The first ever UAE property sold and registered to an Israeli investor is a one-bedroom home in Creek Views II, a real estate project by Azizi Developments in Dubai Healthcare City, it has been announced.
Azizi said in a statement that it has become the first developer in the country to register an Israeli property purchase with Dubai Land Department after receiving interest from “thousands of Israeli nationals” since the signing of the historic Abraham Accord last year which normalised relations between the UAE and Israel.
Farhad Azizi (pictured below), CEO of Azizi Developments, said: “We are delighted to welcome Israeli investors to Dubai’s awe-inspiring and highly growth-inclined real estate landscape, and to be the first to officially register an Israeli national as a property buyer.
“This registration, which is the first of many to come, is a truly monumental move that we are proud to facilitate – we now look forward to offering Israelis world-class properties in a city is that is the best place to visit, live and work in homes that meet these savvy investors’ aspirations.”
He added that Azizi Developments has recently added Israel to its fly-in programme – an initiative to bring international investors to Dubai and showcase the emirate to the world.
Dubai’s chamber of commerce expects annual exports to Israel alone to top $4 billion, making it one of the emirate’s biggest trade partners.
But it’s in the Dubai property sector – one estimated to top $130 billion by 2023 – that the change may be most welcome.
To meet the demand, Damac and its rival Emaar Properties have even begun looking to hire Hebrew-speakers, posting job vacancies on-line for candidates with the requisite language skills.
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