Yakir Gabay

Yakir Gabay
Born	1966 Jerusalem, Israel
Occupation(s)	Entrepreneur, real estate investor
Years active	Mid-1990s–present
Known for	Founder of Aroundtown SA and Grand City Properties

Yakir Gabay (; born 1966) is a billionaire entrepreneur in the real estate sector with Cypriot and Israeli nationality, operating primarily from Cyprus. He holds a 10% ownership interest in the Luxembourg-based real estate firm Aroundtown SA, which is publicly traded on the Frankfurt Stock Exchange.

Gabay is the son of Meir Gabay, who formerly served as Director-General of Israel's Ministry of Justice and as President of the United Nations Administrative Tribunal. His mother, Yemima Gabay, occupied senior roles within the Israeli State Attorney's Office and led the Pardons Department at Israel’s Ministry of Justice.

Early life

Originating from Jerusalem, Gabay obtained a Bachelor of Science in economics and accounting, followed by a Master of Business Administration specializing in finance and business development from the Hebrew University.

Career

Gabay’s professional journey began within Israel’s SEC Prospectus Department, progressing into leadership positions in capital markets as an investment banker. During the mid-1990s, he served as CEO of Bank Leumi’s investment banking division. By 2000, he had become chairman and partner at Gmul Investments, overseeing pension fund assets totaling $30 billion across real estate and securities portfolios.

Starting in 2004, Gabay initiated real estate ventures in Berlin, subsequently expanding into other prominent German cities as well as the United Kingdom and the Netherlands, focusing on residential, hotel, and office properties. His investments are made alongside private individuals and institutional partners via Aroundtown and Grand City Properties, concentrating on prime metropolitan locations.

Aroundtown SA and Grand City Properties S.A.

In mid-2012, Gabay founded Grand City Properties SA, a residential real estate enterprise valued initially at €150 million with shares priced at €2.7. The company’s initial public offering on the Frankfurt Stock Exchange was notably successful; it currently trades on the prime standard segment. By December 2020, Grand City Properties’ assets surpassed €10 billion, its market capitalization reached €3.6 billion, and its share price hovered near €20. The company is included in significant indices such as the MDAX.

Aroundtown SA was listed in mid-2015 on both Euronext Paris and the Frankfurt Stock Exchange with an opening valuation of €1.5 billion and a share price of €3.2. The listing achieved strong performance, with shares rising to approximately €6.2 by December 2020. Aroundtown is also traded on Frankfurt’s prime standard segment, boasting a market capitalization close to €10 billion and inclusion in key indices like the MDAX.

Both Aroundtown SA and Grand City Properties hold investment-grade credit ratings of BBB+ from Standard & Poor's Global Ratings.

Merger with TLG

In February 2020, Aroundtown — recognized as Germany’s largest publicly traded commercial real estate firm — merged with TLG Immobilien AG, which was listed on the Frankfurt Stock Exchange with a market value exceeding €3 billion. The combined organization operates under the name Aroundtown SA, listed on Frankfurt's prime standard segment with a market capitalization around €10 billion as of December 2020, and features in major stock indices such as the MDAX. By Q3 2020, total assets under management by Aroundtown exceeded €32 billion.

Founder Gabay initially possessed a 36% stake in Aroundtown SA but reduced his holding to 10% by December 2020 following a share sale worth €1.5 billion in September 2019. Aroundtown owns a 40% interest in Grand City Properties, which manages a portfolio comprising approximately 60,000 apartments across Germany and over 3,000 units in London.

Management strategy

The company prioritizes acquiring real estate in prime central locations, upgrading these assets to maximize profitability, and adopting streamlined management techniques to enhance operational efficiency.

Personal life

Gabay lives in London, England, with his wife Elena.

Between October 2023 and May 2024, Gabay took part in a confidential group chat consisting of influential U.S. business figures, which aimed to shape public sentiment in support of Israel following the Hamas attack in October 2023. This group worked closely with Israeli government representatives and coordinated efforts with New York City Mayor Eric Adams to address campus demonstrations opposing Israel’s military operations in Gaza. Although political contributions were a topic within the group, Gabay did not make any donations to Adams’ campaign.