June Edition 2021

36 Lawrence Sternthal , T el Aviv Real Estate Shareholder at Greenberg Traurig , which took joint top spot in the rankings: “During the heart of the pandemic in 2020, Israeli investment in foreign commercial real estate slowed significantly. In this period, savvy investor groups with available capital pursued discounted investment opportunities inmajor markets in the U.S. and Europe that were affected by the economic downturn. Investment in the office market in particular experienced a very significant drop due to increased tenant vacancy caused by the pandemic and general concern for the future of the office sector in a changing work environment. Since the beginning of 2021, Israeli real estate investors have significantly resumed their acquisition activity, with a heavy focus on investment in the multifamily and industrial – sectors which proved themselves as a safe harbor during the economic downturn. Investment in data centers, which benefitted from a shift toward greater reliance on technology during the pandemic, have also increased significantly in 2021.” With the easing of travel regulations to the U.S. and Europe, investment in commercial real estate is expected to grow. In the U K, David Prais , h ead of Real Estate at top-ranked Asserson , agrees: “There continues to be much interest from Israelis in the UK real estate market as the UK is emerging ahead of the game in its vaccination rollout, particularly in comparison to its European neighbours. Many clients who have not been to London for 12 months or so have flown out in the last week or so or are planning to do so in the coming days. There, of course, remains uncertainty in certain sectors (retail and lower grade office space) but industrial, logistics, residential and grade A offices are proving attractive.” His colleague , Baruch Baigel , w ho jointly heads the Dispute Resolution practice at Asserson , which was ranked in 1st place, added: “As English law retains its pole position as the law of choice in global commerce, dispute resolution continues to be an area of growth for Asserson and our Israeli clients.As a result of the pandemic and its economic impact,we have seen (i) the English court system and arbitral institutions becoming more accessible and user friendly through the use of remote hearings and (ii) particular growth in the civil fraud sphere, both for claimants and defendants.We have also seen a rise of international arbitration cases with an Israeli angle, with all of the major arbitration institutions increasing their visibility here in Israel.” How has the real estate market held up?