Donald Trump announced his latest property offering on Monday – A $1 billion Hotel Tower Complex on Palm Jumeirah, Dubai– The Penthouse is expected to reach $30 million
The project will be a joint venture between Mr. Trump and Dubai developer, Nakheel, responsible for the World Islands development. The Tower will be built on Palm Jumeirah, the first among the Palm trilogy, and has sparked a great deal of interest from early investors, with prices quickly reaching $3,000 per square foot, making it one of the most expensive developments in Dubai. This despite the fact that public sales were only opened yesterday.
The sixty-two story Tower will feature the most coveted and expensive penthouse apartment in Dubai. and Nakheel’s chief executive Chris O’Donnell said he believes that “when the deal is signed for the first penthouse it will be sold for more than $30 million (Dh110 million).”
The tower will comprise nearly four hundred residential apartments, and a similar number of hotel rooms. The total land area of the site is over forty-five thousand square meters with a built-up area of a quarter million square meters, including parking for twelve hundred cars.
The structure will be made of stainless steel and glass and when complete, it will be the tallest structure on the Palm at 275 meters.
It is designed to permit an unblocked view of the Palm Jumeirah up to Atlantis and the Arabian Gulf. A gap between the two towers will allow the metro to run directly up the trunk of the Palm.
Filed under Luxury Developments by Mark Knowles
June 16, 2008
Luxury Real Estate in New York – New Boutique Condo Development launched into weak market
It would appear that the luxury real estate sector in Manhattan is propping up the rest of the New York market, which is showing signs of stress
Barron’s reported recently that:
Signs of cracks in Manhattan’s property market could mean the rest of the country is on the road to recovery, since New York tends to feel the effects of a slowing economy later than the nation does. One segment still in the stratosphere: luxury condos and co-ops in exclusive buildings.
Although some of the prices advertised recently seem a little unrealistic. A venture capitalist recently advertised his Tony 15 Central Park West apartment for $60 million more than he paid for it a month previously. I have been known to get it wrong on occasion though.
The Turkish Daily News, always a major source of information for those in the know, reports that “Apartment demand weakens in NYC.”
Manhattan apartments costing $1 million or less saw weaker demand as cutbacks by Wall Street firms meant few shoppers and an increase in the number of dwellings for sale.
Which is good news for some and bad news for others of course. A recent press release by Bond New York announces the launch of a Luxury Boutique Condominium development in Greenpoint, Brooklyn states:
New York City apartment’s largest real estate agency launches sales for Greenpoint’s Newest Luxury Boutique Condominium -185 India Street - a six-story, elevator building developed by NYBridge and projected to be completed late spring 2008.
Bond New York Property Marketing Group, specializing in New York City apartments rentals and sales, is pleased to announce that sales have launched for 185 India Street, the newest boutique condominium in Greenpoint, Brooklyn.
Bond New York City ApartmentsDeveloped by NYBridge, 185 India Street will feature eight one- and two-bedroom floor-through residences and a two bedroom duplex penthouse, each with large private balconies and/or roof decks. Many of the units offer magnificent Manhattan skyline views and are priced from $379,000 to $999,000. The six-story elevator building is projected to be completed late spring 2008.
Kitchens will feature Bosch appliances, granite countertops, shaker style wood grain cabinets, wood floors throughout, oversized double glazed windows, and stainless steel appliances. The elegant marbled bathrooms boast elevated Jacuzzi tubs and sleek wood vanities with modern glass sinks.
The two-bedroom duplex penthouse features double exposures and 17-foot ceilings. This incredible living space has three amazing outdoor spaces including a 500-square-foot private multi-level roof deck. A 270-square-foot private terrace, with a hot tub, is accessible from the master bedroom with a spiral staircase leading to a wonderful dressing and home office area.
185 India Street brings a unique intimate residential experience into Greenpoint’s vibrant historic area, one of the most desired residential destinations in Northern Brooklyn. Full of fantastic restaurants, cafes and wonderful shops, this classic condominium will provide the best of both worlds, big city living combined with small town charm.
For further information, please contact David Kazemi or visit www.bondnewyork.com.
Bond New York is the largest independently owned, fastest growing, real estate agency in New York City. Bond New York is a full-service, team-oriented, high-energy brokerage firm specializing in New York City Apartments sales and rentals with five offices city-wide and a staff of over 300 licensed New York City real estate agents.
Despite rising median prices, estimates recently are that most sub-million dollar properties in both Manhattan and Brooklyn, are selling for noticeably less than the original asking prices. A bargain in the offing perhaps?
Filed under Luxury Developments, Press Releases by Mark Knowles
June 4, 2008
Burj Dubai Price Soars Again
The cost of a square foot in some parts of the Burj Dubai has just increased to Dh13,000. ($3,500) Prices in the world’s highest tower, which is due to open by the end of 2009, start at Dh10,000 per sq ft compared to Dh4,000 just a few months ago.
The Burj Dubai’s biggest competitor in terms of price is the Palm Trump International Hotel and Tower, where the square foot rate recently topped Dh12,500.
Prices in both these towers are widely considered the highest in the UAE and are expected to top any other developments in the GCC countries, said Ali Al Rahma, CEO of real estate information website Eqaraat.com.
The Palm Jumeirah has retained first place in terms of returns as the rate has risen to more than 600 per cent over the past six years. More photos after the jump. More on Burj Dubai Price Soars Again
Filed under Luxury Developments by Mark Knowles
A subsidiary of the Al Fara’a Construction, Industrial and Property Group, Al Fara’a Properties, yesterday announced that it has completely sold out the first phase of their “Image Residences” luxury residential project, just a few days after the launch.
The project attracted a high level of interest from both local and global investors. According to a recent press release, Al Fara’a seeks to “leverage the project’s outstanding sales performance to further strengthen its expansion plans.” Read - borrow more money and build another one as quickly as possible. If this sounds reminiscent of the Spanish property developers’ attitudes of just a few years ago, you can enjoy watching this one unfold. Al Fara’a also claimed an extremely successful participation in Cityscape Abu Dhabi held at the Abu Dhabi National Exhibition Centre, where it showcased its latest project and complete portfolio.
The developer has attributed the project’s tremendous success to its high quality and wide array of offerings, which include a selection of sophisticatedly-designed spacious studio, one, two- and three-bedroom apartments and plush townhouses. Comprising of a 17-storey and 11-storey tower, the development will boast smart home technology, in addition to a host of other amenities such as a landscaped leisure deck on the podium level with a swimming pool and children’s pool, a fully-equipped gym, outdoor seating and BBQ area. Retail outlets at the ground floor are also planned.
Natasha Gangaramani, one of the Directors said, “We are extremely pleased with the remarkable turn-out for “Image Residences.” The success of our developments continues to be a credible representation of the brand equity we are building for Al Fara’a that is mainly fuelled by our aspiration to let more customers acquire our offerings through our flexible payment terms. The response we have gathered at Cityscape Abu Dhabi was overwhelming, with our investors showing great confidence in us as a result of our rich history of 28 years in the construction and development industry and our strong commitment to the timely delivery of our projects.”
Downtown Jebel Ali is a two-million-square-meter mixed-use urban community along an 7-mile stretch of Sheikh Zayed Road that is comprised of three individual districts - the Urban Centre, the Trellis District and the Medina District. Small courtyards, plazas, cafes and local shops are planned in an effort to create a “family-friendly environment,” which will apparently include cobblestone streets and walkways to “entice residents and visitors to walk around and experience the tranquility of the new residential hub.”
Nitesh Gangaramani, another Director, said, “Downtown Jebel Ali complements our vision for “Image Residences” - one of luxurious living that is in stride with the pace of the fast-evolving modern Dubai. We believe that the wide range of amenities, which perfectly complement the lifestyle of residents seeking to establish themselves within a dynamic environment such as Downtown Jebel Ali, have also driven the success of the project. As a leading developer, our aim is to constantly provide projects, which perfectly address customers’ requirements in terms of quality, location and investment returns.”
Filed under Luxury Developments by Mark Knowles
May 9, 2008
Emaar Properties Launches Signature Residences
Emaar Properties will roll out an exclusive roster of signature residences within its established master-planned communities on May 10, 2008.
The one-day special sale of premium residences within The Lakes, The Views, Downtown Burj Dubai and Dubai Marina will be on a first come, first serve basis with several financial institutions offering easy home finance options.
The portfolio of luxury homes for sale includes villas, town houses and apartments that are set apart by their location, architectural elegance and easy access to amenities which includes the Deema townhouses with overlooking terraces in The Lakes; Tanaro apartments offering spectacular golf course views at The Views community; a selection of high-quality apartments within Downtown Burj Dubai; and a range of waterfront apartments at Dubai Marina.
Mr Saif Al Mansoori, Sales Director, Emaar Properties, said: “Emaar’s latest residential offerings appeal to a discerning clientele with a preference for world-class homes in established communities in Dubai. The Views, The Lakes, Downtown Burj Dubai and Dubai Marina offer a rich community life and access to varied lifestyle amenities.” More on Emaar Properties Launches Signature Residences
Filed under Luxury Developments, Press Releases by Mark Knowles
Belize’s First Eco-Friendly Resort Designed Green from the Ground Up
Ravenspur Investments Inc. today unveiled plans for Palmetto Bay Resort at Maya Beach, a secluded tropical hideaway in Southern Belize situated on 16-miles of white sand beaches and complemented by stunning scenery of the Maya Mountains. Palmetto Bay will introduce unprecedented luxury beachfront real estate and Four Star amenities to the Placencia Peninsula of Southern Belize, and will be the first development in the Caribbean designed ‘green’ from inception.
The first phase of the gated resort, which is currently under construction, will be comprised of 36 whole ownership, luxury beachfront condominiums ranging from approximately 1,100 to 4,500 square feet, each with unobstructed views of the Caribbean Sea and extensive outdoor living space. Prices will start in the high $200,000s USD. The international sales and marketing campaign for Palmetto Bay Resort commences today.
The elegantly designed turnkey one- two- and three-bedroom residences are spread through two low-rise buildings. Interiors are inspired by the rich Caribbean heritage while the resort’s outdoors encapsulates the area’s natural beauty, including a lush rainforest and exotic flora. More on Eco Friendly Luxury Beachfront Resort in Southern Belize
Filed under Luxury Developments, Press Releases by Mark Knowles
April 29, 2008
The most exclusive property in London?
A residence fit for a King - or a Queen. Possibly the most expensive, most exclusive, most desirable, most spectacular, most………. When they talk of ultra-luxury, this is what the word was coined for.
“Oakmayne bespoke,” will soon be launching what has to be the most (see above) properties in London – 6 double-fronted ambassadorial residences, and 3 apartments in 20-21, Cornwall Terrace Mews, Regent’s Park London, NW1. I hesitate to use the words home, or house. These are residences.
This is probably the most prestigious address in London. (Found another superlative) and it is unlikely another property such as this will ever come on the market again.
This particular stretch of the Terrace was leased to British Land as their headquarters, and when the lease ran out, Oakmayne jumped at the chance to buy it. I spoke to Beth Dean, the director of sales and marketing at Oakmayne, and she was a little “coy,” about the price paid. Translation – she wasn’t saying and is not going to.
Cornwall Terrace is part of the Crown Estate, and as such, you can honestly say that you live in one of the Queen’s houses should you choose to buy one. Cornwall Terrace is also a grade one listed building, and must therefore be restored in a way that remains true to the original features and styling.
Restoration work is underway at the moment and there is no expense being spared. Apparently, the previous tenant had covered all the beautiful crown moldings and ceilings with a suspended ceilings and hidden the original fireplaces with plasterboard. Most of this is still intact and where it was missing, new moldings have been created using casts. Each floor has a different molding, presumably to remind the servants when they were in a forbidden area.
What little I have seen is nothing less than perfect. Their brochure states:
The conversion has been designed to ensure that each reception room and bedroom maximize space and allow light to stream through to every corner.
From floor finishes hand crafted from beautiful Italian marble and oiled and polished elegant hard wood, to the carefully restored fireplaces and corniching, every element is designed to appeal to a sensory awareness of exquisite quality and the promise of an unparalleled finish.
Prices have not been decided yet, but a starting point of £4,000 per square foot was mentioned ($8,000 psf). Residences will vary in size from 8,000 to 14,000 sf ft. So, prices will range from $64 million to $112 million, depending of the level of finish required. These properties make One Hyde Park look cheap and tacky.
The launch will be mid-June. By invitation only. But don’t be too disappointed if your invitation gets lost in the post. It is estimated that there are only 300 Europeans likely to be wealthy enough to afford one of these. Although, if you feel you have been left off the mailing list by mistake, feel free to send me a copy of your bank statement and I will pass along your details for a small fee 
Cornwall Terrace was designed by the prolific British architect, John Nash, after he was forced to return to work following a bankruptcy. This is what they looked like back in the day:
Filed under Luxury Developments by Mark Knowles
