In recent days, many were surprised to see the flag of the United Arab Emirates flying proudly alongside the Israeli flag near the building housing the Tel Aviv Stock Exchange.
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The reason, it transpired, is simple: the embassy of the United Arab Emirates recently moved into the building, renting an entire floor.
Adv. Yaron Tikotzky, an expert in real estate law and co-founder and senior partner of the Doron, Tikotzky, Kantor, Gutman, Nass, Amit Grass & Co. law firm, says: "We represent the UAE embassy in Israel, as part of our agreement with the UAE Ministry of Foreign Affairs.
"They need various legal services in different areas involving the embassy offices, Israeli employees, contracts with service suppliers, and more. Until recently, the embassy operated out of the ambassador's residence in Herzliya, until the completion of the office floor built to house its operations.
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"To my understanding, the choice of this building was not arbitrary, but rather reflects a desire to signal a vision of economic cooperation between the two countries – which is one of the goals of the new embassy."
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