Development of Bombay Dyeing Mills: One of the largest real development projects in recent times in Mumbai is that Larsen & Tourbo is set to develop around nine million square feet at Bombay Dyeing & Manufacturing Textile Mills, as well as the Spring Mills complexes at Worli and Wadala. All this at a whopping Rs 2, 000 crore. Its going to be a commercial project that would include IT, hospitality space and retail. No residential projects are included.
Yet more news from Bahrain, which seems determined to out-develop Dubai and Abu Dhabi. First Bahrain Real Estate Development (First Bahrain) – a leading regional real estate developer with a paid-up capital of $113 million yesterday announced the appointment of global consultants Mace to project manage its signature $450 million development, located in the heart of Bahrain’s Seef District.
India is going through some major transitions at the moment. Mumbai has become one of the most expensive cities in the world as far as property prices are concerned. Major property investors, including the Trump organization, Krogers, the U.S supermarket chain, and several UAE property investment trusts are investing heavily in the Indian property markets.
Or Cyprus, or Italy or Mexico. More and more Americans are looking further afield than New York for their second or even third home. According to the National Association of Realtors, some 5 to 600,000 foreign properties are owned by Americans living abroad. The most popular locations are Britain, Mexico, Canada, Italy, and Germany. Even though housing prices in many European countries outpace the U.S. market, when compared to large U.S. metropolitan areas there are still bargains to be found in some parts of Europe.
If forty million dollars seems like a high price for a single condo in Manhattan, that’s probably because it is.
We recently reported that Sun Microsystem founder Bill Joy has put his luxury Manhattan condo on the market, without ever having moved in. Should the asking price be achieved, it will mean a profit of $20 million. Although it is unlikley to sell at that price – that is a staggering sum of money.
Chandigarh is among the fastest growing cities in India. With a year-on-year growth rate of 7.91 per cent since year 2000, the city has been positioned at number four among the fastest growing cities in India according to a recent report by the International Institute for Environment and Development. Now that the local economy of Chandigarh is flourishing at a sustainable rate, the property market is beginning to follow. Dozens of property deals are closed every week in the city.
Gaining financial security is the main reason why most people turn to property, which is no surprise because property has been and continues to be one of the most solid investments around.
Investing in property represents the best reward vs. risk investment you can make for you and your family. It’s commonly known that pensions are giving poor returns, so whilst other investments are failing to deliver, property investment in the UK and overseas continues to grow.
In January 2008, downtown San Diego will have a new building claiming the status of being the tallest residential tower in downtown, called The Electra. The Electra condos will be 43 stories high with 248 condos. One of The Electra condos most distinguishing features aside from its height will be its 60 foot atrium styles “social lounge”/lobby, a first for San Diego. Other amenities include: business center, private meeting room, gym, 24-hour concierge pool, spa, sauna, steam room, barbeque, 5th floor roof deck outdoor fireplace lounge & garden.
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Philadelphia Premium Outlets, a $115 million retail complex, opened today in Limerick. Its 120 stores include a Neiman Marcus Last Call, the department store’s clearance business. A second phase of the outlet center now under construction will add 30 stores and 120,000 square feet to the 425,000 square feet in the first phase. The center’s developer is Chelsea Property Group, a unit of Simon Property Group Inc., Indianapolis. Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers(R), The Mills(R), community/lifestyle centers and international properties. It currently owns or has an interest in 379 properties comprising 258 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company’s website at www.simon.com.
More on USA Commercial Property more robust than Residential ?
