What is Realty Moguls' business model

How a refugee child in Germany became a real estate billionaire

Amir Dayan is the son of a refugee family from Iran. He made his fortune with real estate - for the most part in Germany.

Today his German portfolio is worth more than two billion euros.

Amir Dayan has had success with his business model so far, but the multi-billionaire in Germany still has to work on his image.

In Germany he was long considered a phantom hiding behind his huge network of real estate: Amir Dayan. He came to Germany more than ten years ago and made a fortune with apartments. Today his German real estate portfolio is worth more than two billion euros. It was a long way to get there.

Amir Dayan is the youngest of nine brothers and three sisters. His parents came to Israel from Iran in 1950. The father comes from a family that traded in raw materials; his mother from a small village with little access to education. Fearing a pogrom, the two fled to Israel. One of the biggest difficulties at the beginning - the language. Neither mother nor father spoke Hebrew, only Farsi. Amir's father initially worked as a cleaner. “He was a hard working person and always happy. Unfortunately, he died 20 years ago, ”says Amir Dayan in his first interview with Manager Magazin.

"We were in the right business at the right time"

His brother Moshe laid the foundation for real estate. In the mid-1970s he emigrated to the USA, traded cars and after a while had great success. In 1991 Amir Dayan founded a ceramic tile company with his brothers Isaak and Roni - to this day, says Amir, they are among the leading suppliers in Israel. When a million Jews from Eastern Europe emigrated to Israel in the 1990s, the brothers seized the opportunity: “They all needed apartments. We were in the right business at the right time, ”he tells Manager Magazin.

With capital from the Israeli real estate business, the brothers also wanted to invest internationally. The chosen destination: Germany. In an international comparison, the prices for real estate here were particularly cheap in Dayan's opinion. He came to Germany for the first time in the 90s, and in 2008 he bought a German property for the first time. The brothers paid an average of 300 to 500 euros per square meter at the time, 1000 euros in Munich and 10,000 euros in London. Amir Dayan says it was clear to him that Germany was the right place, that the legal system was fair.

The real estate mogul made headlines when its skyscrapers had to be evacuated

The Dayans' business model: They bought the property and kept most of it. They either brought in new investors with capital increases or refinanced them. The donors included insurers, pension funds and large institutional investors - initially from Israel, then from European countries, the USA and Canada. In the past, "Intown Property Management GmbH" was the German administration company of the Dayan Family Office, today it is called "Lianeo Real Estate".

Amir Dayan's business model has so far been successful, but the multi-billionaire in Germany still has to work on his image: At the end of 2017, the Israeli entrepreneur made headlines because a high-rise in Dortmund ("Hannibal II complex") had to be cleared due to serious fire protection deficiencies. without the residents being able to move in again.

There was a similar case in Wuppertal. Both properties in his possession. According to Amir Dayan, however, his company is investing more than would be purely economically viable. Individual cases? Unclear, because when asked by Panorama, the company announced that it owned or managed 200 properties. However, “Lianeo Real Estate” only provided more detailed information on six properties, mostly well-renovated hotels.