Three Israeli businessmen who invested in Cyprus real estate

Cyprus’ business ties with Israel have been significantly boosted in recent years, with investments by the country’s nationals following a steady upward trend year by year.

The investments concern various sectors of the economy, including technology, financial services, tourism and of course, real estate.

Yakir Gabay, Gilad Shabtai and Teddy Sagi are three of Israel’s most prominent international businessmen who have entrusted Cyprus by developing strong investor activity on the island.

Their investments, particularly in real estate, are considered strategically important for the country and are giving a much-needed boost to the country’s further growth.

Yakir Gabay

Israeli businessman Yakir Gabay, who was granted Cypriot citizenship, has made significant investments in the country.

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He is the founder and major shareholder of global real estate giant Aroundtown SA, which recently also acquired a stake in Kition Ocean Holdings, which is developing Larnaca’s marina and port.

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Furthermore, Gabay is behind another huge investment that is being planned in Ayia Fyla, Limassol. The plans include the creation of a private school, medical institution and research and innovation centre, at an estimated cost of €856m.

Gilad Shabtai

Israeli businessman Gilad Shabtai has been active for years in Cyprus, in a number of sectors including technology and real estate.

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He has also made significant investments in the country, through his company Emerland Real Estate, having purchased over 130,000 sq. m. of land in the Zakaki area in Limassol. The plan is to build a residential project called “Topaz Residences”.

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Emerland is also collaborating with global hospitality giant Radisson Hotel Group, with the two joining forces to create a collection of residential projects under the brand Radisson Residences Limassol by Emerland.

Gilad, along with his brother Benny Shabtai and other family members famously sold their stake in the app Viber back in 2014 for $900m.

Teddy Sagi

Teddy Sagi is a well-known Israeli investor in Cyprus, with his investments mainly concerning the technology sector.

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In terms of real estate, he introduced the Labs brand to Nicosia, with the creation of the Labs Tower; a 22-floor, high-tech and luxury tower in the centre of the capital, which houses Sagi’s group of companies’ headquarters. It also features co-working space, open plan office space, apartments, conference rooms, a cafeteria and a gym.

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Sagi has an international portfolio of real estate in the UK, Spain, Israel, Romania, Cyprus and Greece and he is involved mainly in touristic, residential and commercial developments.

(Source: InBusiness News)

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