Latest news from Dubai is confusing to say the least. At the one end of the scale, the Dubai government is canceling 1,500 work permits and visas a day as the slowdown continues and developers shed staff, at the other end of the scale, developers keep on putting our press releases claiming that it is business as usual.
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With property values tanking in Dubai, Nakheel have now gone to the trouble of suggesting that David and Victoria Beckham “have shown interest in increasing their property portfolio in the UAE.”
Golden Homes Pvt. Ltd., over 16 years since its inception, has become one of the foremost real estate and developers in Chennai. Among its projects, there are several that have become a favorite among real estate investors in the city, are prime locations.
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Sentinel, is New Zealand’s tallest and newest NZ$137 million luxury high-rise, and there could be some good deals on re-sales for the smart investor.
Located in Takapuna on Auckland’s North Shore the Sentinel is only recently completed and several cash-strapped purchasers have been forced to forfeit thousands of dollars in deposits because they cannot afford the new units they had contracted to buy.
With the incredible boom in the investment property market till a few months back, there have been a number of people who have taken the opportunity to add another piece of property to their list of assets. A large number of these are people who used to stay in flats (who couldn’t afford houses) and who have now exercised the option of buying themselves a cozy little home, which has the advantage of space, comfort and design/architecture of choice. After having moved out of their flats, a lot of these people let their investment work for them and let the flat out on rent.
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Mumbai’s real estate bosses were forced to take some drastic measures to keep up interest in investment property in Mumbai after there was a slump in the beginning of July. The total real estate intake of the city was been left at just thirty percent of what it was. Ofcourse prices have been affected by this slump with them going done anywhere between 10 to 15 per cent in most places. Industry insiders say that this is also the case in Delhi.
Q1 is the iconic 80-story skyscraper – impressive even on the Gold Coast, Australia’s home of skyscrapers. Q1 is Australia’s tallest residential tower was completed.
Less impressive are stories emerging of the losses that some property investors are taking. One 4-bedroom apartment on the 72nd floor was bought in March 2005 for A$3.4 million was re-sold in January this year for A$2.75 million, which is still a lot of money for a 417 sqm apartment, even one with “stunning views”. Which it should have as Q1, at 322.5m high, is the world’s tallest residential tower and the world’s 20th highest tower.
The grass is always greener syndrome appears to be alive and well for Australian real estate investors. Several firms are advertising in Western Australia highlighting eastern states property investment opportunities. While at the same time strong growth rates in Melbourne, Queensland and NSW mean that some eastern states investors are viewing Western Australia as affordable in comparison.
Limitless has broken ground on its $300 million residential twin-towers project in Amman, Jordan yesterday. The towers will be the tallest building in Jordan once finished
The project was launched on Monday at a ground breaking ceremony in Amman, attended by Jordanian Prime Minister, Nader Al Dahabi and Omar Maani, Mayor of Amman. The lead designer on the project is Chicago-based Murphy/Jahn with New York-based Turner International as Project Manager.
In a fit of modesty, the developers have decided to change the name of the building from “Limitless Towers,” to “Sanaya Amman.” Sanaya means ‘starlight’ in Arabic. Although, you don’t build the tallest building on the block and then get all modest, so I imagine their PR people suggested the original name was just too OTT.
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A monsoon investment property bonanza was held from June 20th to 22nd with the Times Property Expo at Bandra. This event was held at Hotel Taj Lands End. Well known developers from the metros such as Pune, Delhi, Hyderabad, Bangalore, Mumbai amongst others displayed all their various projects that they had as well as the projects in the offering.
