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David Kempinski Tel Aviv is the hotel brand’s first in the country.
Dubai: The Israeli capital Tel Aviv is welcoming its first Kempinski hotel and residences, with the latter expected to generate serious interest from wealthy investors.
The David Kempinski Tel Aviv has a beachfront location, with 250 rooms over its 34 floors. The David Promenade Residences are part of a 26-storey tower and owners will benefit from Kempiniski’s services and a direct connection to the resort.
In Israel, the David Promenade Residences are marketed by Holland Real Estate while LuxuryProperty.com London, the UK arm of the Dubai brokerage, takes on the international mandate for the project, with a particular focus on clients across the Middle East. “This is truly a unique offering in Israel, which is one of the most highly valued markets in the region,” says Jason Hayes, founder & CEO of LuxuryProperty.com and chief executive of LuxuryProperty.com London.
Hayes had been waiting for the right opportunity to include Israel as part of the company’s overseas portfolio.
The David Promenade Residences provide that opportunity. “ I will be working closely alongside them (London office) to personally oversee our marketing activities and I will be maintaining communication with the team at Holland Real Estate as well to ensure that the best advisory on this project is being given to enquiring clients.”
Tel Aviv and many of the key urban centres of Israel have been seeing rising levels of interest from overseas investors. Israeli property investors are looking to the Dubai market while investors here are “discovering the offerings available in Tel Aviv – beachfront residences that are connected to a Kempinski hotel project are bound to put the city on everyone’s radar”. In 2022, it is expected that prices will continue to rise, albeit at a slower pace than the previous year, and there will be more demand from foreign investors.