We are constantly being approached by agents and developers with property for sale, or developments that need an infusion of capital. Some of them are potential investment opportunities, but some of them………. Well, no one in their right mind would consider some of them. Many of these come from “developing” countries, and are barely intelligible.

But we thought a fun post with a few of them would be in order. And if you are thinking of dropping us a line with your “opportunity,” please remember to put it in English and at least have some sort of business plan already formulated. We don’t respond well to Internet speak either. “ur sur 2b intrst in this wonfl prprty,” doesn’t get our attention. At least not in a good way.

Luxury Real Estate Development in Pakistan

Chinese Influenced Villa in Pakistan

This one dropped through my inbox with the following message - “For our upcoming luxury real estate project planned on motorway through exclusive ingterchange we seek equity investment from some dubal based property investment co. can you people help us in this regard. IF yes than we can share our business plan with you. please visit our site for details.”

Now the “business plan” was a reasonable sales pitch ( ignoring the occasional spelling mistake) but one thing it wasn’t was a business plan. Zero financial information, zero projected income from the project. Absolutely nothing other than a sales pitch for “luxury redefined” in Zarkon Hills for villas such as the “Residence SUZHOU,” which is apparently, “Chinese Forbidden City,” influenced.

Obviously some trouble has been taken with the drawing of these villas, and other in the proposed devlopment include:

• SAN LORENZO , inspired from the Renaissance style;
• CASA RABAT, simplicity drawn from North African architecture; Casa Rabat offers a cool tranquill surrounding with series of delighting features.
• MEXICANA, Casa Mexicana is a Spanish colonial inspired villa using bold colours and striking shapes to refer back to the Mediterranean influences ;
• VENTURA , a lavish open plan design;
• PEBBLE BEACH , a compact contemporary plan; While the appearance may be traditional, Zarkon Manor is filled with luxuries of modern living
• PALM SPRING, of traditional appearance yet with luxurious modern living;

And if you think you might be interested in a Chinese influenced Villa in the middle of Pakistan - here is a link. I especially liked the “Quality of Life” pitch. “Quality of life is what you deserve. You’ve earned it, crave it, and now it’s time you enjoyed it. Zarkon Hills is not just a statement of your success; it’s an investment in the well being of you, your family and the future. While it’s still possible, maybe you should take ownership of your part of Zarkon Hills.”

I think the company concerned has actually built one project, Zarkon Plaza, which, according to their website is an “upscale center hosts international food chains such as KFC and Subway plus many other restaurants such as café bonito, texas steak house and namak mandi. Besides your shopping needs are also fulfilled here with branded and variety shops as Nike, cross roads, junaid jamshed, ECS and a department store sheikhs’s mall. It also offers jewelery and cosmetics. Thus you will find your shopping experience at zarkon plaza 1 as simply delightful.”

Nice to know KFC is such a trusted brand in Pakistan

Land For Five Star Hotel in Sri Lanka

Airport Garden Hotel Sri Lanka

Now, I may be missing out on the best investment opportunity this side of buying Manhattan from the Native American Indians for a handful of beads here, but I am going to share -

I have very nice land in Sri lanka and located 500m from colombo airport. It is three side covered from nice lagoon and one side from Air Port garden hotel. Govenmern has alocated this area for tourism industry. We have already got all relervent approvals from government to put up fivestar class hotel.ny Investor who like to invest this project we are willing to sell our land. Just he can start construction of hotel. We made architectural plans as well.

tks & rgds,

buddhi

Unfortunately, the specified website http://landforsaleinsrilanka.com is not functioning, and the sender of this one declined to send any more information. I am assuming the 500 m is meters not miles. Last time I was in Sri Lanka, it didn’t strike me as being 500 miles wide. Interested parties feel free to drop me a line and I will pass on your details.

Amazon Rain Forest

Some time ago, we covered the World’s most unusual properties for sale which included a 1.2 million acre stretch of the Amazon forest. This is still for sale apparently. I got a lot of messages saying that this should not be put up for sale for “exploitation,” and I agree with that sentiment. The price is $100 million, so if any one has that amount of money lying around, drop me a line and I will secure the property with a guarantee to leave it intact.

Amazon Forest for Sale

Island in Zambia

Island for sale in Zambia

Offered with the description “Island of Prestine African Bush On Lake Kariba” $2.8 million will get you 44 hectares of unspoiled African bush in the middle of the largest man-made lake in Africa. As an incentive, the Zambian government has agreed to a tax-free import of $440,000 worth of equipment to get you started. Best described as “out-of-the-way,” Lake Kariba is almost in the middle of southern Africa. Map

There are many Islands for sale and this is a good guide - Buying a private Island.

Health Resort in Georgia (Russia version)

Lounging on the Magnetized Sand with Cows for company

Photo Credit

If the credit “crisis” was not in full swing, this one might actually be a potential opportunity. But, once a again, I am going to share, that’s what a nice guy I am. That and the fact that I have zero chance of raising the $35 million it would take to buy this and the $50 million needed to develop it. This is the message:

Dear friends,

First of all we would like to hail to you and say best wishes, health and success in your business life. We would like to inform you about that we are partners of health resort «UREKI» and have decision to sell splendid resort complex «UREKI», Settlement «UREKI» situates at the beaches of Black Sea of city Ureki. Before the privatization it was a government residence. Originality of resort complex is that this place has treatment-climatically reasons. This place is near Sea breeze, where is situated pine forest, and Sea beach has magnetize sand, that is best for treatment of nerves, bones which has no analogical into the world. The ground is dry the whole territory is 165 000 kw/ meter, and has 7 cottage and hotel with 40 room. this place is border to other beach with 5 000 kw/meter, which for today rented by government for long time rent suggested for us. On that territory it is possible to build health treatment complex, This place is situated not far away from central auto and rail way places. (see Ureki) Not far away (3-5) km. is other resort Kobuleti. Documentation suggested territory is registered according of Georgian legislation and it is not a sport object, This place is under our ownership and we have documentation of ownership. Privatized at name of one our partner. We would like to mark also that for today at the beaches of black sea near that place is also other our private place, The price of that is 35 000 000 USA DOL In that case if your commercial interest is about to buy that place we can show documentation and view in Tbilisi.

Not a bad message, but the response I got when I inquired was indecipherable. Still if you fancy $35 million worth of magnetic sand on the Black Sea and can speak Russian, drop me a line.

Marina in Amherstburg

Amherstburg Marina

Much to the annoyance of the local inhabitants, Amhersburg’s city council has decided to unload their loss-making marina. As if anyone has ever heard of a government running anything that actually made money The optimistic council men believe they can unload the debt-ridden Marina for it’s assessed value of $450,000. ($500,000 less than the current debt)  Given recent falls in real estate values, I would hazard a guess it is worth more like $200K, but if you are interested, let me know. The marina represents the only public water access in the town, so it is an odd choice to offer it for sale. The Windsor Star has a full report.

One thing to remember amidst all the government-generated bullshit about the foreclosure mess and financial bailouts is this -

The US government now owns all this. Everything. The Federal government effectively owns all the foreclosed properties in the United States. Either directly, or indirectly though Fannie Mae, Freddie Mac or the banks they now own. Which means they have some “interesting” properties for sale. Here are a few of my favorites. Make your own mind up as to whether they may be a good investment property or not.

Conneaut Harbor West Pierhead Light House

Conneaut Light

Hmmm. Tough choice. Should I buy the magnetic sand or the lighthouse in the middle of a breakwater on Lake Erie? Well, if you decide the lighthouse is for you, this is where to bid - Conneaut Lighthouse auction. No bids have been recieved as yet, so you might be picking up the bargain of the century….

Frying Pan Light Station, North Carolina

Sold AS-IS and WHERE-IS

I have no idea why I find these so fascinating, but “Frying Pan,” is a steel oil drilling platform, known as a ‘Texas Tower’ on top of four steel legs that has been modified to be used as a lighthouse. It marks the shoal at the confluence of the Cape Fear River and the Atlantic Ocean. The eighty-foot light tower was built in Louisiana and brought by barge to Frying Pan Shoals in 1966. Prior to the erection of the light tower, lightships had marked the shoal for approximately 100 years. The platform consists of two floors. The sub-floor is a living area of approximately 5,000 square ft. that includes bedrooms, kitchen, office, storage area, recreation area and toilet facilities.

Access to the light station is limited because the heliport is not structurally sound. An inspection is not possible and the light tower is being offered “as is and where is”. :)  Details and bids here - Frying Pan for sale

If you should decide that any of these are potential investment properties, good luck in your up-coming venture. And on a lighter note, if any of you are wondering where the world seems to be headed, with the US government propping up banks at the cost of the man in the street, - read this - A good recession.

News from around the world regarding property values and markets. No one could possibly disagree that a major correction is going on across the world. With property prices falling almost as fast as they rose over the last few years, the real question is - when is the time to get back in? Our own feeling is that the government bailouts are going to fail to revitalize the world’s economies and devalue currency already in circulation. We expect real values to continue to decline for the foreseeable future.

Despite the amount of press releases floating around the internet claiming the problem has gone away and prices are rising, the time is not yet. This is a selection of “impartial,” news reports from around the world.

The United Kingdom

UK property sales down 53 percent year on year in September

The number of properties changing hands in Britain halved in September compared to a year earlier, as the fallout of the global credit crunch crippled mortgage issuance, turning the country’s housing boom into bust. Guardian

Wales’ richest property magnate is £20 million poorer

THEY may not generate the same amount of sympathy as struggling families and failing small businesses, but Wales’ biggest credit crunch losers have been revealed. A new list of the wealthiest men in property shows that Wales’ richest magnate is £20m worse off than last year. Wales online

Marks and Spencer to cut dozens of jobs in property scalebacks.

The company said it had started consultations with staff in its property and store design and development departments as a result of its decision to reduce its growth plans but gave no details. Reuters

Asia

Asia Pacific Property Sales Tumble Commercial property sales in the Asia-Pacific region dropped 62 percent in the third quarter as the lending crisis spread, Real Capital Analytics Inc. said. Sales declined to $20.9 billion in the three months ended September from $55.5 billion a year earlier, said Dan Fasulo, head of research for the New York-based firm. Worldwide, property sales dropped 59 percent to $119.8 billion from $292.8 billion. Bloomberg

South Korea to spend $3.8 billion US to prop up ailing consrtuction sector

South Korea said Tuesday it will spend around five trillion won (3.78 billion dollars) to boost the slumping construction industry amid fears of a broader economic downturn. The announcement comes two days after the government announced a 130-billion-dollar package to stabilise local financial markets. Channel News Asia

China central government backs property rescue moves

The Central government endorses local government measures to revitalize the property markets, the official China Daily reported, citing Qiu Baoxing, vice minister of housing and urban-rural planning. Qiu said at a forum in Shenzhen that ‘local governments should be allowed certain freedom in formulating real estate policies.‘ Forbes

Owners in Singapore are dumping luxury condos at hefty discounts

FOR sale: Luxurious multi-million-dollar apartments, not quite for a steal, but with a hefty discount. Stock market losses have forced some property owners to resort to ‘fire sales’ for a quick return to liquidity. And because the property market is almost flat, they have had to let go of their property at huge discounts. Property agent Henry Neo receives one SMS a day from different clients asking him to sell their homes. Mr Neo, who has been a property agent for close to 20 years, said: “The Asian financial crisis of 1997 and this crisis are real challenge” AsiaOne Business

Europe

Sales of holiday homes in France plummet

The number of Britons purchasing property in the Dordogne has halved in recent months, with the financial crisis turning the dream of owning a second home abroad into an unaffordable luxury. Telegraph

Spanish property prices could fall another 50 percent

Real estate prices in Spain could fall as much as 50 percent over the next three years, financial website El Confidencial reported, citing comments by realtor Grupo Inmo’s financial director, Javier Ortiz. Forbes

Record attendances notwithstanding, the mood at this year’s Dubai Cityscape could best be described as “wary,” and the exhibition failed to lie up to expectations investment-wise. Despite announcements of new developments of epic proportions, this failed to translate into sales.

This year’s Cityscape was highly anticipated in the hope it would boost investor confidence after a rocky few weeks in global markets.

Rohan Marwaha, managing director of Cityscape said this year’s show had been about cautious optimism. People are thinking more about where and what they invest in.

In an apparent contradiction (other wise known as spin) the organizers say that there is “much more interest this year compared to last year,” yet property sellers are saying that potential buyers are afraid of investing.

Abdul Rahim, sales executive at RAK properties said sales during Cityscape 2008 were “a little bit down compared with last year.”

Mansoureh Ghezipour, property consultant, Best Homes Emirates Real Estate, said, “People trusted the market last year but this year they are afraid of buying. The number of visitors is higher this year but nobody buys.”

Sikander Aziz, sales executive of Bonyan International Investments Group, said the interest of visitors is higher, but the actual buying is low.

“There were a lot of buyers last year.” When asked the possible reason behind the lack of initiative to purchase, Aziz said, “Global liquidity conditions.”

Lack of transparency in Dubai’s banking system is another reason for the “cautious optimism.” Dubai’s banks, like many around the world are facing a lack of funds, and no matter how many announcements of new mega-projects, if there are not enough funds to go ’round, many of them will not be built, and there are already calls for government to step in and fill the current deficit.“Banks need the necessary capital to provide financing, and with funds flowing out of the country, the only option for the government is to step in,” said a senior bank official. Most banks refrain from being transparent in relation to the issue, and many claim that no liquidity crisis exists whatsoever, including the major banks.

“Transparency in such circumstances is crucial towards the government and the Central BankCentral Bank,” the official said.

By the end of 2007, total bank assets exceeded $272 billion, and they stood at $400 billion at the end of last June, according to the Central Bank, a figure that will fall by $136 billion as a result of the withdrawal of foreign funds.

To many observers, the levels to which share prices have plunged in reaction to the international financial collapse are very attractive indeed, as many companies are being traded at prices below their book value.

“This means that these companies will generate better value if liquidated, and it only reflects that the panic selling that is taking place is beyond any logic,” said Mohammad Ali Yasin, managing director of Shuaa Securities.

“The panic prevailing as a result of the crisis is not helping anyone, and what is certain is that smart money is cautiously building positions to benefit from this drop.

“The government can also benefit from the situation as the interference will not only restore confidence, but generate generous profits as well,” he added.

Meanwhile, UAE banks are on the verge of a serious crisis due to a $136 billion funding shortage, senior bankers revealed yesterday. With foreigners accounting for about 40% of UAE bank deposits the gap in the spread between total loans and advances and total deposit is increasing at an alarming rate

“Foreign deposits that are being withdrawn from the system in addition to the increasing liabilities compared to assets are forcing the UAE banks into a corner,” a top official at a leading bank said on condition of anonymity.

“The Central Bank did not actually pump Dh50 billion into the system, as these facilities are for banks to borrow. Instead, what is needed is strong government intervention by placing deposits with the bank to compensate for the outflow of foreign funds,” he said.

Total foreign deposits along with European Commercial Paper issues and Medium Term Notes stands at about 35% of total assets, according to a statement by the central bank last week.

Meanwhile, total bank deposits fell short of total loans and advances by more than $15 billion in June compared to a $5 billion surplus in June 2007, according to official statistics.

“These foreign funds were actually hot money that flooded into the country during the increasing speculation about the de-pegging of the UAE dirham from the US dollar, especially after Kuwait departed from the peg,” a senior executive at the National Bank of Abu Dhabi said.

“Now the trend has reversed, and accordingly we find more than $54 billion is being withdrawn from the system,” he added.

The end of speculation in the currency market accompanied by the mounting international financial turmoil forced foreigners to abandon their positions in the UAE to cover the losses.

The impact on the stock markets was obvious, where more than $80 billion was lost in market capitalization since the beginning of the year, of which $35 billion, 44% was recorded last week alone.

“For the government to interfere, is up to the concerned authorities, but as a market we cannot interfere, not even by diminishing the maximum limit down, a practice that proved a failure in Saudi Arabia,” a top official at the Dubai Financial Market said.

Portside Wharf

Following the enormous success of local sales, Multiplex Living’s Promenade Hamilton Apartments at the vibrant $1.3 billion Portside Wharf precinct in Hamilton, Brisbane are set to attract international investment with an intensive sales campaign targeting Asia launching in Singapore on September 18.

Multiplex Living Director Sales & Marketing Tim Willing said 52 (over 30%) of the apartments had been sold over the first three days, highlighting the current demand for waterfront living in Brisbane.

“These sales show the market is taking advantage of a fantastic product, and recognising the value in a meticulously designed and positioned waterfront development,” Mr Willing said.

Mr Willing said buyers were identifying the limited supply of product on offer, particularly when the price is under $800,000 (AUD).

According to Head of Research at Resolution Research and Marketing, Peter Bell, the waterfront apartment market in Hamilton has been at the forefront of a growth in median apartment prices in Brisbane over the past five years and looks set to magnify further in the future.

“Market evidence from 2008 clearly indicates apartments have become the property type of choice in the Hamilton market, with more apartments having sold during this period than houses,” Mr Bell said.

“With the exception of Brookfield Multiplex’s master planned Portside Wharf development there have been no major introductions of waterfront apartment product into Hamilton since the final release of Brett’s Wharf in 2001,” he said.

Portside Wharf is a $1.3 billon master planned community featuring a unique and dynamic mix of restaurants, bars, boutique retailers, cinemas,  fashion stores, boutique retails outlets and specialty food stores.

Interior

Promenade Apartments will combine stylish, timeless architecture with all the hallmarks of contemporary urban living – superior design, liveability and attention to detail.

Designed by the renowned Cottee Parker Architects, the latest addition to the precinct will feature 156 luxurious residences over 12 levels, many with excellent river and district views.

A mix of one, two and three-bedroom apartments will be available for purchase, with prices ranging between $399,000 to $1.65 million (AUD).

Promenade Hamilton Apartments are located just six kilometres from Brisbane’s CBD and 10 kilometres from the international and domestic airports, the Apartments are due for completion in 2010.

Multiplex Living is the residential development division of Brookfield Multiplex Group, which is one of Australia’s premier developers, with award winning developments across Queensland, New South Wales, South Australia and Western Australia.

Multiplex Living will have a sales exhibition set up in Singapore at the following time and location.

Hilton Singapore – Singapore
September 19-21
581 Orchard Road
Singapore

For more information visit www.portsidewharf.com.au or www.multiplexliving.com.au