Not for the same reason. Singapore is prosperous because they have a much more laissez faire economic model allowing for mostly unhindered trade and business, putting them at the very top of the economic freedom index, while their surrounding nations all have much more heavily restricted economies. What makes israel the most developed country in the region is a combination of welfare from the taxpayers across Europe and North America, especially from the United States, and the fact that they're only beaten by the UAE on the economic freedom index. Not to mention the other countries in the region are also getting bombed constantly by the United States.