Yakir Gabay
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Yakir Gabay (Hebrew: יקיר גבאי, born 1966) is an international business man who lives in London. Gabay is the son of Meir Gabay, who was the Director General of the Ministry of Justice and who also served as the Civil Service Commissioner of Israel and as the President of the United Nations Administrative Tribunal. Yemima Gabay, his mother, was a senior at the State Attorney's Office and Director of the Pardons Department in the State Ministry of Justice.
Education
Yakir Gabay grew up in Jerusalem, completed BA degree in economics and accounting, and an MBA degree in finance and business development at the Hebrew University .
Business career
Gabay started his career in the Prospectus Department of Israel’s SEC . He then served in management positions in the capital market as an investment banker. In the mid-1990s, he served as CEO of the investment banking division of Bank Leumi. At the beginning of 2000, Gabay served as chairman and partner of Gmul Investments, which then managed investments for pension funds, in real estate and securities totaling $ 30 Billions.[1]
In 2004, Gabay established real estate investment activity in Berlin and expanded to other large cities in Germany and the Netherlands in the residential, hotel and office markets. He co-invested with private investors as well as institutional investors amongst the largest in the world. The Group's properties are located in the major cities of Germany and the Netherlands, including Berlin, Frankfurt, Munich, Hamburg, Dusseldorf, Cologne, Stuttgart,[2] Amsterdam and Rotterdam.
The real estate companies Aroundtown SA and Grand City Properties S.A.
In mid-2012, Gabay issued Grand City Properties, a residential company, at a company value of 150 million euros.[3] The issue is considered the most successful on the Frankfurt Stock Exchange in the last decade, with a nine-fold increase in the share price from 2.7 to 24.5 euros per share within six years. The company is traded on prime standard segment of the Frankfurt stock exchange, at a value of 4 billion euros (as of September 2018),[4] and is included in the major stock indices such as MDAX, and is considered the fourth-largest European residential real estate company (based on market value).
In mid-2015, Gabay listed the shares of Aroundtown SA in both Euronext Paris and the Frankfurt Stock Exchange, at a company value of 1.5 billion euros.[5] The listing was successful with more than doubling of the share price from 3.2 to 7.7 euros per share within three years.[6] The company is traded on the prime standard segment of Frankfurt stock exchange, at a market value of 8.5 billion euros and is included in the main stock indices such as MDAX.
Aroundtown SA is the largest listed Commercial Real Estate Company in Germany and the fourth largest Commercial Real Estate Company in Europe. Grand City Properties and Aroundtown are ranked by Standard & Poor's Global Ratings BBB +.[7] Aroundtown SA has the best rating in Germany in the field of commercial real estate.
Gabay holds 36% of its assets in Aroundtown SA, with assets worth more than 17 billion euros and shareholders' equity of 8.5 billion[8] euros and an annual dividend payment of 300 million euros. In 2017 the company's net profit was 1.5 billion euros, and in the first half of 2018 a net profit of approximately one billion euros.
The rest of the company's shareholders are large institutional investors such as Blackrock, Fidelity Investments, insurance companies such as Allianz and Generali, sovereign funds such as Temasek (Singapore). In the years 2016 to 2018, Aroundtown SA raised over 10 billion euros in the global stock and bond markets and is considered the largest real estate issuer in Europe’s capital markets during this period. The funds were raised through the world's largest banks such as JPMorgan, Goldman Sachs, Bank of America, Morgan Stanley, Deutsche Bank, UBS, HSBC and others. The company owns more than 300 office buildings and 100 hotels, mainly in Germany, the Netherlands and London.
Aroundtown SA owns 38 percent of Grand City Properties, whose portfolio includes 85,000 housing units worth about 7 billion euros.[2]
The management strategy
The strategy of the companies is based on the acquisition of real estate properties in central locations in the Largest cities of Germany and the Netherlands, their improvement and optimize return and creates an efficient management.
In addition, Yakir Gabay invests significant amounts in high-tech and real estates in the United States. According to Forbes' estimation, Gabay’s net worth is $ 3.5 billion as of September 2018.[9]
References
- ^ "Terms of Service Violation". www.bloomberg.com. Retrieved 8 September 2018.
- ^ a b "Portfolio - Aroundtown SA - Largest German Listed Commercial Real Estate Company". www.aroundtown.de. Retrieved 8 September 2018.
- ^ Name, Author. "Company Profile - Grand City Properties S.A". grandcityproperties.com. Retrieved 8 September 2018.
{{cite web}}:|first=has generic name (help) - ^ "GRAND CITY PROPERTIES Aktie - Aktienkurs - A1JXCV - Börse Frankfurt". www.boerse-frankfurt.de. Retrieved 8 September 2018.
- ^ "Milestones - Aroundtown SA - Largest German Listed Commercial Real Estate Company". www.aroundtown.de. Retrieved 8 September 2018.
- ^ "AROUNDTOWN SA Aktie - Aktienkurs - A2DW8Z - Börse Frankfurt". www.boerse-frankfurt.de. Retrieved 8 September 2018.
- ^ "Rating - Aroundtown SA - Largest German Listed Commercial Real Estate Company". www.aroundtown.de. Retrieved 8 September 2018.
- ^ "Aroundtown hat für 1,4 Mrd. Euro zugekauft". www.immobilien-zeitung.de. Retrieved 8 September 2018.
- ^ "Yakir Gabay". Retrieved 8 September 2018.