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Doing real estate differently

“We cultivate an atmosphere of collaboration, creativity, and integrity, and our consistently remarkable outcomes are our hallmark”, says Ronit Hayon Dowek, leading businesswoman in real estate, founder and CEO of Prosperity Real Estate, a boutique firm engaging in the marketing and development of high-end projects, who feels like she’s making people’s dreams come true – time after time | Assaf Levanon

“I’ve lived and breathed real estate from birth”, exclaims Ronit Hayon Dowek. As daughter of the late developer and contractor Uri Hayon, who built across Jerusalem, was ahead of his time, and renowned for the numerous real estate projects he headed in Jerusalem as well as for being a stone artist, Ronit had been inspired, and as she grew older, has taken her father’s real estate vision to new heights. She founded Prosperity Real Estate 21 years ago after being Senior Marketing Director at real estate development firm “Amana”, where she was responsible for marketing in Judea and Samaria, branding these housing projects as opportunities for a high standard of living at a low cost. Ronit then decided it was time to open her own firm.

“It was a dream of mine to set up a boutique real estate firm that would serve as a one stop shop”, she says. “A company that would be able to provide customized solutions for each client to suit their every need. I wanted to create a human and business encounter that affects people’s lives in terms of both experience and outcome. I often say that I’m in the people business more than I am in the real estate business. Real estate is a by-product. I opened my own firm at a point in my life when I had enough experience to know that the way can change my personal perception and philosophy. I wanted to create some kind of a customer experience that is based on interpersonal relations along with passionate professionals who put their souls into their work, and believe in the added value they create”.

To be effective, honest, and professional

Prosperity Real Estate initiates its own real estate projects, but primarily focuses on marketing high-end properties, mostly purchased by non-residents. “I started out in prestigious housing with a group of English-speaking clients”, says Ronit. “The relationship we forged was wonderful, and I became their official representative in Israel. They also invested in some of my largest projects. We purchased buildings and land with various designations for betterment and development purposes, among others we initiated the development of the famous 8 Cremieux Street project in Jerusalem. Our clients, some of whom are publicly traded companies and affluent families from Israel and the world who are active in real estate under the radar, view us as a consultancy that accompanies and leads transactions for them that are outside the market. Sometimes they even view us as those who generate the transactions. Some of the deals private customers have struck through my firm include many properties, such as: The Lehi House in Jerusalem, the Ceramics House, the unique building owned by the historical Jamal family in the neighborhood of Talbieh, Jerusalem, the land upon which the Isrotel Jerusalem Orient Hotel was built, and the transaction for the sale of the windmill adjacent to the Prima Kings Hotel. The firm’s résumé now contains many buildings up for historic preservation with huge planning and human complexities that we have overcome”.

The rest of the Prosperity Real Estate portfolio includes many high-end properties, logistic centers, buildings undergoing betterment and renoviction across Israel, as well as agricultural land and commercial real estate, such as hotels. But Ronit’s real estate appetite knows no bounds, and alongside her work as a realtor, she herself invests in real estate in Israel and overseas. “My motto is to change lives, time after time, by investing in people, and, of course, we want to do business with good people and enjoy it”, she explains her activeness, “real estate is an area I enjoy and love very much. Unfortunately, it is not respected enough in Israel, and in the lectures I give on the subject, I try to change the way this profession is perceived. Realtors should certainly do their part to remove the stigmas by embracing norms such as professionalism, fairness, and integrity, while being properly accountable, and charging appropriate fees”.

” We make the real estate consulting and investing experience into a positive process that is accessible and professional, driven by investing in people and developing long-term relationships with our customers”

 

High-end Dubnov 1 Project currently being built on private land and located in the iconic Sherover compound opposite the Jerusalem Theater | Illustration: PR

 How would you characterize Prosperity Real Estate’s advantages?

“We’re a boutique firm. Every one of our clients is a world unto himself, someone we know personally. We make the real estate consulting and investing experience into a positive process that is accessible and professional, driven by investing in people and developing long-term relationships with our customers. We cultivate an atmosphere of collaboration, creativity, and integrity, and our consistently remarkable outcomes are our hallmark. We have outstanding professionals in every area associated with real estate, but to me, our most important expertise is determined and creative negotiation, the ability to seal the deal when both parties are happy and satisfied. It’s an area I give many talks on. Our service to both private clients and investors, including close, comprehensive, and uncompromising accompaniment throughout the process. When clients come to us, they find everything they need to carry the deal through. We place an emphasis on effectiveness, integrity, and professionalism. At the same time, we also ensure creativity when addressing challenges. We come up with solutions, and prefer the informal, authentic approach. At the end of the day, we’re Jerusalemites… over the years, we started to hear from clients wanting to carry out elaborate transactions, or make purchases that require gentle but persistent conduct, and see us as the right people for the job. When a client comes to us with a difficulty or challenge on the way to a deal – we’ll find the way to do it. We feel a tremendous responsibility for all those we come across – whether they are clients or professionals. In many cases we get feedback from our customers – both buyers and sellers – saying we have provided them with a different real estate experience, unlike anything they were accustomed to, because we understood their exact needs. I feel like we are able to make people’s dreams come true, and it’s extremely satisfying”.

The crisis led to greater demand

Ronit says she did not panic when the pandemic hit because she views crises as opportunities. “This period of time has helped us to regroup, hone ourselves, and be far more creative, instead of being on automatic pilot”, she notes. “Although I did pause at the beginning of the pandemic to look right and left and figure out what was going on, but I quickly realized I had to respond to the market. We were contacted by many buyers, who assumed that these times would bring plenty of catches with them – and fortunately, this was not the case. Naturally I didn’t want to see this market collapse. Instead, quite the opposite had happened: the crisis led to great prosperity in this field, and to greater demand in general, not necessarily to catches. COVID made people realize that we only live once, and it’s here and now – prompting them to make old dreams come true, and purchase their dream homes. Overseas clients who had been considering making Aliyah for a long time, or at least to purchase real estate in Israel, and were waiting for the right opportunity or some kind of push, were given it by the pandemic, and made the obvious step. Others decided to immigrate to Israel because antisemitism grew overseas during the pandemic. Jewish businessmen decided to move the center of their business to Israel.

“I can tell you about a New York-based company that was looking to buy logistic centers, hotels, and agricultural land in Israel in order to enhance its local activities, so I can certainly say that the market was very active throughout the pandemic”, she goes on to say. “Of course, there were difficulties too. We couldn’t meet in person, and that’s a problem when people want to come and see a property they are considering to buy. So people were starting to come to terms with the limitations, and understand that there are other ways. In the prestigious Dubnov Project, near the Jerusalem Theater, only 10 of the 26 apartments are left, and all sales were conducted during the pandemic via online meetings, with material presented on Zoom. When the skies will reopen, dozens of clients who are interested in various large projects are expected to come and see me. Ultimately, people adapt to the situation, and also understand that it’s not here to stay. COVID will vanish at some point, and there’s no reason to cancel plans to buy real estate because of it”.

 

“Jewish businessmen decided to move the center of their business to Israel. I can tell you about a New York-based company that was looking to buy logistic centers, hotels, and agricultural land in Israel in order to enhance its local activities, so I can certainly say that the market was very active throughout the pandemic”

A wonderful dynamic

Every time Ronit uses the plural form, she is referring to herself and her VP of Business Development – who also happens to be her son – attorney Tomer Dowek. As third generation of realtors, Tomer began to work at Prosperity Real Estate while studying for his law degree, and engaging in private entrepreneurial ventures. When he completed his studies, he practiced law in a leading Jerusalem firm specializing in land, planning, and construction. His entrepreneurial spirit combined with the world of real estate led Dowek to take part in the establishment and management team of the first building operated by WeWork in Jerusalem. After learning the ropes, and accumulating both knowledge and experience, Tomer began working full-time as the company VP.

When you ask Ronit about the challenge of working with family, and the difficulty of bridging between a mother-son relationship and professional hierarchy, she says it all comes together quite easily. “When you share the same set of values, you have the same credo. Tomer brought many added values to the family business: being young and fresh, new management and strategizing methods, the ability to be precise, efficient, and maximize processes, and so on. As an attorney specializing in planning and construction, he is able to provide immense value to the company, as well as an additional level to our clients. His “umbrella” understanding enables us to deliver transactions professionally and accurately. We share a wonderful dynamic – we complement and empower one another, and the fact that there is an age gap, as well as the experience I have accumulated over the years, and our sometimes-different approach, help is reach better results for a wider clientele. Because we attribute such importance to professional development, we regularly provide feedback to each other, and by doing so, we create synchronization, enjoy the process, and have true harmony”.

RONIT HAYON DOWEK

Founder, Prosperity Real Estate

55, divorced, has 3 children: Tomer Dowek, attorney and VP of business development; Shir Dowek, interior designer; and Yuval Dowek, IDF combat company commander, has 2 grandchildren, lives in Har Adar.

  • Writes poetry which she shares on her YouTube channel
  • Gives lectures to real estate professionals
  • Went skydiving with her daughter-in-law
  • Goes scuba diving and horse-riding
  • Joined her children on their trip across South America

 

 

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