Beauchamp Estates buys Tel Aviv estate agency after UAE Peace Breakthrough
London headquartered multi-national ultra-prime specialist Beauchamp Estates has acquired Tel Aviv luxury property consultancy MAKI; with the business rebranded as Beauchamp Estates and merged into the firm’s existing Tel Aviv office by Rothschild Boulevard: the move undertaken to help capitalise on the local market’s growth potential triggered by the normalisation of relations between Israel and the United Arab Emirates (UAE).
MAKI, founded by directors Kiki Karametos and Matthew Bortnick in 2009, has been responsible for a series of key sales and lettings deals accross the prime and ultra-prime Tel Aviv real estate market, including deals in the landmark Meier on Rothschild tower (£5.59m), Assuta Tower and a number of listed Bauhaus instructions. The financial arrangements of the acquisition have not been disclosed but the move underlines the investment that Beauchamp Estates is making as part of its ongoing international expansion plans.
Kiki and Matthew will join the existing Beauchamp Estates Tel Aviv team, which includes director Daniel Goldstein, in the 1,011 sqft (94 sqm) contemporary designed marketing and sales office, where the team provides Tel Aviv sellers and property owners with international standards of property sales and marketing.
The expansion of Beauchamp Estates’ operations in Tel Aviv neatly co-incides with a huge jump in international interest in Israel’s real estate market as commentators forecast a wave of inward investment following the UAE’s decision to normalise relations with Israel under the so-called “Abraham Agreement”.
Arab nations Jordan and Egypt already have arrangements with Israel but the UAE is the first Gulf Arab country to reach such an agreement and the wealth and investment power of Abu Dhabi and Dubai in particular could trigger significant inward investment into Israel’s residential property market, commercial real estate sector and the hotel/hospitality industry. Already Beauchamp Estates’ Tel Aviv office has had a series of enquiries from the UAE about real estate investment and opportunities in Israel.
Beauchamp Estates first office in Israel (Tel Aviv) opened earlier this year and has seen increased global interest in the Israel real estate market with buyers from the USA, UK, France, mainland China, Hong Kong, Singapore, Russia and South America.
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Gary Hersham, Founding Director of Beauchamp Estates says: “I am delighted to welcome Kiki Karametos and Matthew Bortnick to Beauchamp Estates, their market knowledge built the exceptional reputation of MAKI and we share common values, particularly a focus on quality and client service. We have incorporated the firm into our existing business which will help to grow and enhance our operations in Isreal’s ultra-prime real estate sector which is a key growth market for international luxury developers and hotel brands. With its good weather, beach-side location, high quality of life and cutting edge cosmopolitan arts and architectural scene, Tel Aviv is an exceptional place to live, do business and enjoy leisure.”
Matthew Bortnick, Associate Director, Beauchamp Estates (Tel Aviv) says: “Beauchamp Estates’ international reputation preceded them entering the Tel Aviv real estate market and Kiki and myself are excited by the wealth of opportunities that our collective experience, expertise and knowledge will create for Beauchamp Estates. This move comes at very exciting time in the Tel Aviv real estate market. The newly established relations between the UAE and Israel, only four hours flight time apart, will create exciting new opportunities in the real estate sector. The change in relations, combined with Israel’s moderate climate, is likely to create an increase in touristic visits by Emiratis who find Israel’s proximity and lifestyle options appealing; equally, for those seeking long term investments there are numerous opportunities available, both in commercial and residential property and for those looking for a second, or even primary home that offers an exceptional life style, combing the very best of city and beach style living.”
Kiki Karametos, Associate Director, Beauchamp Estates (Tel Aviv) says: “Tel Aviv, like London, is a prime real estate market that is used as an investment hub for investors from around the globe. Its prime market is developing rapidly, both commercial and residential, with a number of prime Tel Aviv sites being pursued by luxury residential developers and the hospitality sector. Tel Aviv offers world-renowned restaurants, leisure and night-life, complete with a thriving business quarter and tourist beach-scene. Consistent international and domestic demand has resulted in annual growth of 10% per annum and there is an extremely wide range of high quality properties available including family villas, executive apartments and beachfront apartments and condos, whose design rivals the very best in Marbella, Miami and Los Angeles.”
Kiki and Matthew founded MAKI in 2009 with a shared vision to establish a European style full-service real estate advisory business in Tel Aviv.
