July 17, 2024
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Meet Asden Israel’s Yuval Schultz

In a virtual meeting with Yuval Schultz, director of sales and marketing for Asden Israel, a Jerusalem-based Anglo real estate development company in Israel, we discussed the current state in Israel, real estate and beachfront living.

 

Let’s start with a bit about your background.

I grew up in Alon Shvut to American parents who made aliyah together. After my army service as a combat medic, my wife Noa and I decided to spend a few months in New York. What was planned as six months of “let’s earn some money and enjoy a change of scenery” turned into 23 years of working in Manhattan brokerage. Though we made the move as a family back to Israel in 2014, it took me another six years of commuting before I was able to finally make a full transition. Today, almost 10 years later, we couldn’t be happier with the decision to move back.

How hard was the transition from Manhattan real estate to working in Jerusalem?

At first, the thought itself was very challenging until I was introduced to Asden. I remember when I first opened my brokerage in Manhattan I wrote the words “integrity, professionalism and excellence in service” as my guiding principles and what I trained and demanded of my agents who worked with me. My biggest fear of transitioning into the Israel market was that I would have to deal with practices that were overly aggressive and stereotypical of the Israeli business world. In Asden I found a company where the tradition of integrity, excellence and tzniut were passed down through the family business as the DNA that guides how we operate.

The fact that we are Jerusalem-based and that our recent projects were tailored to the Anglo Orthodox community made it that much easier for me to feel at home.

How old were your children when you moved and how did they manage?

When we first decided to accept that we were living in the States, like many Israelis who move here, we made it clear to ourselves that we would move back before our oldest son would need to start kindergarten. He was registered to start Solomon Schechter High School when we made the move back in 2014 and our youngest daughter was registered to start first grade. Her older sister was in fourth grade and our second son was to start eighth grade. They all had their challenges. Some more, some less but they are all doing great and are very happy that we made the move. On Oct. 7 the boys were both immediately called in as they had both served in fighting units. Thankfully, after a few months they returned safely both physically and mentally.

 

How would you say that the war will impact the real estate industry?

I think it will take us all a long time to fully process all the various aspects of the Oct. 7 attacks and the war. How the war ends will also have a strong influence on the country, the world and our relationships with our neighbors.

As for the impact it will have on the real estate industry, I think that goes hand in hand with the impact the war will have on Israel’s economy as a whole. I don’t think we need more time to acknowledge the incredible heroism, drive, fight and unity that the collective “we” have shown. Every heroic encounter of me’atim mul rabim, the way the soldiers are fighting this evil in Gaza, the endless volunteers and the warehouses and flights full of donated helmets, vests and gear for our chayalim, are all part of that fight and determination to win, to survive and to fortify our homeland.

Yuval Schultz

I think that the wake-up call of Oct. 7 is going to drive growth across Israel’s economy with tenacity and vigor unlike any period we’ve seen previously. We were knocked down but not out and we will bounce back stronger than ever before. New businesses will be created, new projects will be launched, families will grow and others will make aliyah and much less in our life will be taken for granted.

The demand for apartments was high before and the supply has not increased. That demand is on hold for the moment and the common belief by analysts is that demand will spike once life in Israel returns to normal.

 

Do you think that the increase in antisemitism worldwide will have an impact on demand for apartments in Israel by Jews making aliyah?

Unfortunately, yes. After COVID and BLM, during the last spike in antisemitism, we definitely saw an increase in demand. We always prefer that people make aliyah or buy an apartment out of a love for Israel and not fear or concern for their safety for being a Jew outside Israel. I think that in the aftermath of this war there will be more demand by Jews who aren’t necessarily planning to make aliyah in the near future but just feel like they want to have a place in Israel “just in case.”

We all witnessed the evil and depth of hatred that were exposed on Oct. 7. It was shocking but not really surprising. The incomprehensible gathering of “liberal/educated” crowds worldwide chanting “From the river to sea” in blind support of the perpetrators of that evil is what I think people find most troubling.

What’s next on the horizon for Asden?

Our two most recent projects, the Mesila in the German Colony and Park Eight in Baka, positioned us for many as the go-to luxury brand in Jerusalem. We have about 10 projects in various stages of development across the country at the moment and several others in the pipeline. In Jerusalem, our next two projects are in the German Colony and Old Katamon, which we expect to bring to market in the next 6-12 months. When we consider developing a project, we have to feel that it has true potential for us to create a high quality product. Currently, we are very excited to finally be bringing VIDA to market, our first beachfront project which is located literally in a one-of-a-kind location only 200 meters from the shoreline in Hadera (which is about seven minutes south of Casserea and 15 minutes north of Netanya). The beach extends south and becomes part of the breathtaking Gador Nature Reserve and is considered one of the prettiest beaches in Israel.

 

What is most unique about this project?

When we were first introduced to this lot for development, it was love at first sight. I find the word “mesmerizing” to most accurately convey the feeling you get when standing on your terrace overlooking open waters. Engulfed by the sight of the open Mediterranean stretched out in front of you while gazing at the turquoise shades of green and blue, smelling the clean sea breeze and hearing the gentle sound of the waves as they dance with the sand in front of you — mesmerizing.

VIDA will be a luxury project consisting of two meticulously designed towers, a 24-hour doorman attended lobby shared by the two buildings, swimming pool, gym, two saunas, private shul, sukkah terrace, event room, business lounge and more. The apartments range from one to four bedrooms, all with direct sea views.

Over the past two years I’ve had the pleasure of working closely with the architects and the massive team of experts who fret over every detail that goes into planning a complex project like this one and I love seeing people’s reaction to the culmination of that effort.


B”H, I will be meeting privately with small groups of family and friends who are considering buying together in the project while I am in the tri-state area in early March. We can be reached at 917-697-3233 or at vidatowers.com.

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