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In addition, the resort will feature all the leisure amenities you’d expect, such as indoor and outdoor swimming pools, a health spa, gourmet restaurants, bars, designer boutiques, a tennis academy, cinema and golfing. Not surprisingly, property on such an exclusive development carries a luxury price tag, with one bedroom apartments starting at 800, 000. bad credit credit creditres

The developers behind the lavish property development are the Imocom group. Alejandro Martins, chairman, said, “The Palace is set to become one of the most sought after addresses in Europe, taking Algarve living to a whole new level of international opulence.” bad consolidation credit debt

The UK unveiling of Palacio da Quinta is taking place in London at 11-12 St James Square from 30^th April to 1^st May 2008, from 10am to 8pm. If you’re interested in attending, call 0800 085 6907 for further details. bad company credit repair

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Comments (0) April 26, 2008 The Next Best Thing: Property Investment Opportunities in Abu Dhabi

Filed under: Asian Real Estate Blog — Rachel Newcombe @ 12:31 am golder tower - Abu Dhabi Creative Commons License photo credit: 6 bad car credit loan

A close neighbour of Dubai, Abu Dhabi is fast becoming another key property investment hotspot in the United Arab Emirates. As the capital of the United Arab Emirates, (UAE) Abu Dhabi is the largest and richest of the seven emirates. About 95% of the UAE’s oil reserves are located here, so Abu Dhabi is a major producer of oil and has made much of its money from this. A major new airport costing in the region of 3.5 billion is currently being developed and the emirate has a blueprint for development in action, called Plan Abu Dhabi 2030. bad credit loan mortgage

But where Dubai has already grown and developed at a fast pace, with many lavish and extravagant real estate developments, the pace of growth in Abu Dhabi has been much steadier. In fact, the blueprint is helping them learn from the mistakes Dubai made and grow at a better pace. That said, there are many exciting new projects on the go. auto bad credit loan

One example is a stunning 7-star luxury business hotel, incorporating four towers of residential property (villas and townhouses), a commercial tower, private marina and canal promenade which is being designed by Gensler and built by developer Tameer Holdings. The Tameer Towers will be located on Reem Island, just off the coast of Abu Dhabi, and will be a very eye-catching development when completed. bad credit mortgage refinance

If you’re interested in finding out more about the benefits of buying property in Abu Dhabi, then it may be worth tuning in to Real Estate TV on Sunday 27^th April at 10pm. They have a programme scheduled in their Next Best Thing series which is concentrating solely on Abu Dhabi. The channel is located on Sky channels 273 and 274, on demand on Virgin TV and online at Real Estate TV. bad credit refinance

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Comments (0) April 25, 2008 Building Conversions Make Exciting Property Investment Opportunities

Filed under: UK Property — Chris Breese @ 11:15 am Off-plan real estate developments usually involve a new build apartment block or rows of contemporary-style houses, but what if you could invest in homes planned for a listed building or classic structure, perhaps even a football ground bad credit loan student

When Arsenal Football club first announced it was to up sticks from the ageing Highbury Stadium and moved to a new home at nearby Ashburton Grove, questions were raised about what would happen to the 38, 000-seater arena where the team had played home games since 1913. That same arena is now undergoing transformation into 711 apartment properties in a project called Highbury Square - one of the most innovative and ambitious property conversions London has ever seen. bad card credit

Less than 10 per cent of the real estate development is still available to purchase off-plan as of April 2008, with prices starting at 345, 000. Properties will include terraces and balconies, a 24-hour concierge service, plus a fitness centre and swimming pool. bad credit financing

Stands intact at Highbury Square

Remarkably, the original shells of the four massive stands have been preserved and are successfully being converted, with the stadium’s pitch becoming a stunning two-acre shared landscape garden for lucky residents to enjoy. The East Stand was once, ironically, partially at the root of the club’s expansion problems as it is a listed building, but is now one of the most attractive sides of the development, which is expected to be fully complete this summer and sure to tempt more than gunners fans. bad credit home loan mortgage

Buying something as unique as this could be seen as a way of not only getting your hands on an exciting property investment but also as a method of preserving the past and helping to support the character of the local area. And, of course, converting a large building into homes is sometimes far less costly than constructing it from the ground up. Imagine the cost of putting up four massive apartment buildings at Highbury from scratch. bad credit loan people

Property conversions are common in London, thanks to the capital’s long-standing and increasingly chronic lack of space. Naturally, Highbury Stadium is not the only old building undergoing a residential revolution. Although already complete, the former Trebor Mints factory conversion in Katherine Road will give you an idea of what is becoming increasingly fashionable among developers and property investors alike. bad card credit credit people

A spectacular 1930s monolith, it is now 65 residential properties and office units with the addition of two extra new floors and a daylight-filled courtyard in the middle of the building. And the ‘Trebor Quality Sweets’ lettering on the exterior has even been restored to its former glory. bad credit guaranteed loan

Live in a former gin business

Forced in part by space limitations, London continues to set the standard with similar property conversions. How about a new home in a former gin distillery Although no alcohol appears to be included with any new property purchases at the simply named ‘Distillery’ project close to Canary Wharf. Former home to Old Seager gin, this exciting property investment opportunity integrates part of the site’s listed architecture and remodelled warehouse to produce a mixed-use development. Its website quotes Ken Livingstone, current Mayor of London, as calling it ‘an exemplar of process and design in London.’ bad credit refinancing

The building’s apartments will feature oak finishes, open studios and duplexes, plus a ’sky gallery’ in the building’s upper floor to create panoramic views. 225, 000 is the starting price if you are interested in investing in one of these properties, with completion earmarked for 2010. bad credit equity home loan

Monolithic Mills converted to apartments

Outside of London a northern mill or factory conversion seems a regular and apparently attractive bet. Leeds and Manchester, once at the hub of the industrial revolution, both boast their own financial districts, with Leeds’ banking haven the biggest area of its kind outside of the capital. As such the textile mills that once housed the world’s first organised heavy industry are a potential goldmine for property developers keen to convert them into apartments for young professionals settling either side of the Pennines. bad credit loan payday

Elisabeth Mill

, Houldsworth Village, Stockport, is being turned into 138 apartments by specialists Millshomes. The site is a grade II listed former cotton mill and currently in the second stage of a two-phase conversion. If Victoria Mill, phase one, is anything to go by, Elisabeth Mill will feature exposed brickwork, penthouses, high ceilings and uninterrupted views. 139, 359 is a discounted starting price for these property investments, with all units done and dusted by August 2009. bad credit repair

Over in Leeds, the vast Bank Mills building, once empty, grim and redundant, is now the subject of a transformation into Roberts Wharf, by City Lofts. Additional new build properties are also being added here, to create 198 new Conran-designed loft apartments plus 13, 000 sq ft of office space. Some of these properties are already completed and a few units are left off-plan, with 90, 000 and up the asking price and full completion down for October this year. bad credit home loan uk

Other property conversion innovations

The same property developer is behind Springfield Mill, Nottingham, in the east Midlands. Once the home of lace production, it is now a four-storey apartment development with 105 units. Work is underway already with June 2008 the finish date. Again, an element of Jasper Conran design is as standard. Manor houses and hunting lodges prove popular candidates for more rural conversions. The Mulberry Green Collection, Essex, will feature seven apartments in a listed manor house, once gutted by fire but now set to be a luxurious set of homes starting at 299, 950.Work on this project is set to get under way this year. 2nd bad credit mortgage

As the NHS continues a programme of selling off older sites, hospital conversions might also make future property investment opportunities. School conversions are also common. Victorian school buildings lend themselves well to homes with high ceilings and airy windows. Parts of Leicestershire and Nottinghamshire in the east Midlands are in the midst of an educational cash investment from the Government. The borough of Melton in the former and Bassetlaw in the latter are undergoing schemes that could see large school buildings up for grabs in the not-too-distant future. bad credit loan unsecured

Although rare gems, conversion properties off-plan could become more common as developers seek to minimise costs in the current economic climate - and what better way to preserve the past while laying down a future property investment bad consolidation credit loan

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Comments (0) April 24, 2008 Dubai Escrow/Trust Law Promises Property Investors Peace of Mind

Filed under: dubai real estate — Keith Peterson @ 12:16 am Dubai Marina @ Night Creative Commons License photo credit: s_zeimke The real estate boom in Dubai is by now a well-known phenomenon. This small Principality has become the commercial, financial, transportation, tourism and cultural dynamo of the Middle East. Investors in Dubai properties come from all over the world and Dubai has been transformed from a desert backwater, which at the turn of the 20^th Century relied upon fishing and goat-herding, into a world-class urban center. bad business credit loan

Legal reforms set the stage-foreign freehold property ownership

There is no doubt that encouraging this real estate explosion has been the policy of Dubai’s government. Public policy decisions and legal reforms by Dubai’s crown prince, Sheikh Mohammed Al Marktoum, have, in important respects, set the stage for the property boom in Dubai. In May 2002, a decree was issued allowing foreigners to buy and own freehold property in selected areas of the city. The government announced its intent to further liberalize the property ownership laws, stimulating foreign investment. In March 2006, Dubai’s government issued a law permitting foreign ownership of properties in designated areas of Dubai. bad credit lender mortgage

The need for reforms to protect off-plan investors in Dubai properties

The Dubai property market kettle may have overheated, however and the Emirate has become increasingly concerned about its international reputation as a safe place to invest. Many real estate sales in Dubai are off-plan sales, and there was real concern that investor’s money - often that of foreign investors - might not be going where it was expected to go. Property investors had no guarantee that the installments they were remitting to the developer were being used to construct the particular development in which they were investing. There was also no assurance that a particular stage of construction would be reached before the next payment was due. A widely-publicized recent example of this unfortunate phenomenon was the Damac Properties Palm Springs fiasco that we have discussed on this blog. The time was ripe for the Dubai authorities to do something to win back the confidence of property investors and give them peace of mind. And they did. bad credit home loan mobile

Dubai’s Escrow (Trust) Account Law promises to restore confidence in real estate

In an effort to bolster international confidence in the Dubai property market, Dubai instituted its Escrow (Trust) Account Law (Law No. 8 of 2007). This law enacts major changes in the manner in which real estate development is managed in Dubai. What have been called the “freewheeling” days of Dubai real estate seem to have come to an end with the institution of this law, which puts very strict controls on how developers can use money paid to them by off-plan property purchasers. bad cash credit loan

The Escrow/Trust Law is administered by Dubai’s land department (DLD) and an agency called the Real Estate Regulatory Authority (RERA), has been established by the department to regulate activities relating to Dubai real estate, including the Escrow law itself. Under this law, all funds received by property developers have to be administered through an “escrow” or “trust” account, opened with a financial institution which is approved by the DLD. The developers must be registered, and the registration process requires that the developer satisfies a number of conditions before it can even open the trust account and begin selling property. These include the filing of architectural plans and a financial statement in compliance with the law, among other things. bad credit loan private

The Dubai Escrow/Trust Law also has a provision that requires the developer to hold back five per cent of the total value of the trust account for one year in order to cover claims for defects arising from the construction of the project. bad card credit debt

The law also provides for stiff fines and imprisonment for violations and provides for a developer’s registration to be cancelled under a number of circumstances. bad business credit loan small

Needed reform or skunk at the garden party

So now everybody’s happy, right Well, not quite. The new Escrow/Trust Law certainly could have the effect of throwing a fair amount of cold water on property development in Dubai. This isn’t a bad thing, of course, if the real estate market is overheated and speculation-driven. But there is certainly concern that the stringency of this new law, and the expense of complying with it, will cut down the number of players who are able to afford to participate in this market. Some legal experts are predicting that the new law will present problems for property developers who usually release payments in stages to contractors. Often such payments come from the money received from purchasers. There are predictions that the restrictions imposed by the new law could cause delays in projects, particularly because the shortages of labor, expertise and materials in Dubai often permit contractors to drive hard bargains. bad bankruptcy car credit loan

Nevertheless, the predominant view expressed in the Middle Eastern news media is that the Escrow Law is a badly needed reform that will solidify Dubai’s place as a venue for international real estate investment. bad credit instant loan

Thailand’s Escrow Law

Thailand is another country with an exciting real estate market has passed, but not yet implemented, an Escrow Law. The same concerns about protecting the investor and preserving the reputation of the country as a place for investment motivated the passage of Thailand’s law and many of these same concerns about the effects of the new law are being raised there. Some lament that the increased costs imposed by Thailand’s new law will seriously reduce the number of participants in that burgeoning real estate market. bad credit equity loan

All things considered, I see these laws as positive developments, however. It would seem that there is nothing more important to an emerging property market than its reputation for investment safety. These Escrow Laws may have some undesirable consequences, but they put first things first. It will be interesting to watch how things play out in both Dubai and Thailand. bad credit georgia home loan

Comments (0) April 23, 2008 Indian Real Estate Developers Resort to Freebies and Discounts to Woo Elusive Buyers

Filed under: real estate india — Anjeeta Nayar @ 8:46 am Spaceship Infosys Creative Commons License photo credit: reidmix application bad card credit

The global credit crunch and the subprime mess is finally beginning to have an impact on the Real Estate Industry in India, which until now has been experiencing an unprecedented boom due to the explosion of the pent up demand for housing in India. Easy availability of credit, along with the booming Indian economy and the stock exchange as well as the influx of overseas funds in recent times had led to a situation in which demand had easily outstripped supply, and this situation was further aggravated by the scarcity of developed land. In such a situation, developers ruled the roost and were able to command whatever prices they wanted, as there seemed to be ready buyers at every price band. This has led to sky-high seemingly unaffordable property prices in many areas of the country. bad credit home loan va

In November 2007, Citibank sold an apartment in the posh NCPA building located in South Mumbai’s Nariman Point area to a London-based non-resident Indian for a cool Rs.34 crore ($8.5 million) which works out to a rate of over Rs. 97, 000($2431) a sq foot. This deal had set the property market in South Mumbai on fire as developers subsequently pushed up prices of off plan luxury developments in South Mumbai to hold out for prices which ranged from Rs.40, 000($1002)- Rs one lakh ($2505)a square foot. bad credit home loa

Investor sentiment affected

At these rates, the property prices per square foot in South Mumbai are equal to if not higher than the prices in prime areas of New York City like the Upper East side, where new luxury developments like the Georgica and the Brompton are currently retailing at $1400-$1500 a square foot. However the scenario has changed somewhat in the past four months as the market sentiment has been badly affected following the massive drop in the Bombay Stock Exchange in January 2008. The Stock Market continues to be volatile until today and the pervading market sentiment has also affected the relatively insulated sector of ultra-luxury developments. Projects like Orbit Arya at the tony Nepeansea Road in South Mumbai where apartments are priced at Rs.62, 000($1531)per square foot have not recorded a single sale in recent months. bad car credit loan new

Liquidity Crunch

The Stock Market volatility has not only affected the sentiment but it also affected the availability of liquidity as well. It was this liquidity crunch in the market that led Dubai-based Indian development group Emaar MGF to withdraw its planned IPO in February 2008. The group had initially proposed to mop up Rs.6500 crores ($1.3 billion) with their issue at which shares were initially offered at Rs. 610-690 ($15-$17) but these prices were then twice revised down to Rs.530-630 ($13-$15). However the group then decided to cancel their IPO in order to wait for a time when investor confidence was restored in the market. Recent rumors in the market have indicated a further cash strain at the company as it was recently forced to roll over its short term borrowings from mutual funds. bad credit home loan really

It is not only Emaar MGF which has been affected by these adverse market conditions but many small developers and medium builders who had hoped to mop up liquidity in a booming IPO market in order to pay for their expensive plots have now been forced to borrow funds from aggressive non banking finance companies at untenable high interest rates in order to remain viable, as banks have seemingly shut their doors to builders. Large developers like Omaxe and DLF who had managed to raise funds through successful IPO’s in 2007 have deeper pockets and are relatively unaffected until today. bad credit fix

Rise in the prices of materials

To further add to the developer’s woes, the prices of steel and cement have also increased greatly during the last year. This has led to a huge increase in cost of construction, as a result of which developers in cities like Pune have decided to increase the per-square foot charge for residential properties by between Rs.50 ($1.25) and Rs 400($10.0251) from the end of April in order to cope with the increased costs of materials and the heavy taxation that has been imposed on them by the Pune Municipal Corporation. bad credit down home loan

The Promoters and Builders Association of Pune (PBAP) has also appealed to the Central Government to intervene and curb the rises in prices of cement and steel. The developers feel that the high prices of these commodities have given them no choice but to increase the price of their properties. However they also fear that at such high prices soon, nobody will want to buy a flat in Pune, as there is a growing resentment amongst the middle class and this will lead to a slump in the real estate sector. This sentiment has been echoed in a recent report conducted by the Macquire Research that predicts that cities like Gurgaon, Noida and Pune prices in the coming here are expected to fall by 5-15% as these markets are overheated and supply has outstripped demand. bad credit lender

Builders trying to drum up sales with freebies

In the suburbs of Mumbai medium sized developers like Mantri, Lok, and Nahar have started offering discounts and sweeteners ranging from stamp duty relief, free modular kitchens, free interiors free top of the line laptops and free parking to attract reticent buyers to their already launched projects. This scenario is also been replicated in Delhi and in Bangalore as well. In Bangalore, the marketing arm of the Magnolia group called Orange Properties has for the last six months been offering fantastic discounts to attract buyers. bad buy car credit

Some of their recent offers promised a Maruti SX4 car free with every 1500 sq ft booked at one of their projects located in Bannerghatta in Bangalore. These apartments are priced at approximately Rs.42 Lakhs ($105, 000) and a Maruti SX4 retails currently for 6-8 lakh ($15000-$20, 000) so the offer represents a substantial discount. The group had also previously offered an Audio A4 worth 30 lakhs ($75000) to every buyer of a villa at their Magnolia Brooksville project and a F kg of gold for buyers of flats at their Hinduja Lake Front Estate project. bad bank credit loan personal

Real estate analysts believe that these discounts are just the first step towards a more visible price correction, so if you have been feeling priced out of the Indian real estate market and you have a fairly long investment horizon, you might want to keep an eye on the developments in the Indian Real Estate sector for the next few months which may offer you the chance to buy a property at a discounted price in a premier city. bad credit home loan purchase

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