An English luxury home being offered for sale at a cool 5 Million pounds (approx 7.3 million USD) has created a stir amongst YouTube users with some 690,000 views. The huge 14,365 sq ft home being promoted by overseas property portal Homesgofast.com. The new house set in the Essex UK countryside is one of the largest new homes built in the South East of England and would befit any celebrity seeking a secluded location.

The video shows the home grounds and designer interior including luxury pool and some of nine bedrooms that all have en suite facilities; the video even shows the huge home from the air.

I am not sure “stir,” would be an appropriate description judging from the comments left on youtube. 309 comments from 690,000 views doesn’t seem like much of a stir to me. “5 million for this piece of junk? WOW, someone is going to be ripped off,” being a typical example of the comments.

One thing to bear in mind when looking at the success or failure of this video is this. The video was posted to youtube on October 22nd, 2007 -

And is still for sale more than a year later

So as far as sales success, not really much to write home about. Admittedly, the financial crisis has since intervened, but luxury properties of this value were still selling in the UK until mid-2008. There may be some ancillary benefits as far as promoting the website goes (I have linked to them - and posted the video here), but no success with a sale. So what is the problem? How is it that 690,000 views did not translate into a sale?

Simple - the title of this video is ” Millionaires Mansion MTV Crib Style Home,” and actually comes up in the first page of google video search results for the search term, “MTV crib,” which is no mean feat. But begs the question - Are people searching the internet for MTV cribs the type of users that are likely to purchase a five million pound house in the UK? And that is a rhetorical question.

The video itself is a pretty poor quality slideshow and I imagine a lot of people were disappointed if they came looking for some dirt on an MTV rapper’s digs. This is the video in question -

There are far more effective ways of using video to market a luxury home, not least of which is first of all employing a professional videographer to shoot a high-quality video, finding a suitable video hosting company and then advertising the property to a luxury audience.

A good example of over-promoting a poor quality product to the wrong audience. I imagine 600 well-targeted viewers would have been more successful that 690,000 voyeurs.

Dubai Cityscape Golf Classic

There is more than one way to network in the real estate industry, and once again Cityscape 2008 kicked off with a traditional networking opportunity - A golf tournament.

As the most strategic business to business real estate event in the region, Cityscape Dubai is where international decision makers come together to formulate and share industry views and their vision for the future. We at Shaikh Holdings are proud to be associated with such an internationally profiled event. Imran Shaikh, CEO, Shaikh Holdings

Over the years, the annual Golf Classic event has become a favorite amongst leading Dubai real estate personalities to network at before the official opening of the Cityscape conference. The Cityscape Dubai Golf Classic is the first event of Cityscape week, Dubai’s premier real estate exhibition and conference. Sponsored by Shaikh Holdings, a Dubai-based real estate investment and development firm, the tournament was staged at Dubai Creek and Yacht Club.

Dubai Creek Golf and Yacht Club

Cityscape USA 2008

As the economy softens in the US and emerging markets continue to thrive, foreign investors are purchasing US properties in a growing trend that includes the Abu Dhabi Investment Council’s, a sovereign wealth fund, purchase of a 75% stake in the Chrysler Building.  These topics, among others, will be examined by leaders from around the globe at Cityscape USA – a large-scale networking exhibition and conference where US real estate industry professionals will have access to and network with some of the biggest names in the emerging world.

Investment from emerging markets such as Asia and the Middle East is entering into the US market at an astonishing rate due to a weakened dollar and few regulatory barriers.  A report published by Global Capital Trends recently noted, “At least one third of all property acquisitions involved a foreign buyer or capital partner in 2007.”  The study also set forth that global buyers spent a total of $46 billion last year in North America.

“A number of factors are currently causing dynamic shifts in property capital throughout the world.  The timing of Cityscape USA could not more opportune for leaders in the industry to gather and discuss recent events and their implications for investors,” says Robert White Jr., Founder and President, Real Capital Analytics.

Robert White Jr. will be speaking at the upcoming Cityscape USA conference about global capital flows.

“According to the most recent survey published by the Association of Foreign Investors in Real Estate (AFIRE), more than 50% of foreign investors’ real estate capital scheduled to be invested around the globe in 2008 ($1.692 billion) was earmarked for investments in the US.  Of the $700 billion in real estate assets held by the non-US investors who comprise AFIRE’s membership, $230 billion, or roughly one third of total real estate holdings, are based in the US,” says Geoffrey Dohrmann, President, CEO, Publisher and Editor-in-Chief, Institutional Real Estate, Inc.

Georffrey Dohrmann will be speaking at the Cityscape USA conference about institutional investors’ perspective on emerging market real estate opportunities.

While there is an influx of capital into the US from overseas, American real estate investors are also increasingly focusing on opportunities in emerging markets.  Real estate capital from the US to Europe and Asia is amongst the largest flows of investment in the world.

“According to data compiled for the Institutional Real Estate Universe by Institutional Real Estate, Inc., 77% of the 635 private equity fund offerings seeking to raise capital around the globe were focused on global and international strategies.  That represents roughly $420 billion of the $545 billion currently being offered by these fund managers,” says Dohrmann.

A report by Global Capital Trends sets forth that US-based investors were the most active in 2007, making over $70 billion of international property acquisitions.  With the huge growth of new markets including India, China and Latin America there is extraordinary opportunity for increased international investment.  Cityscape USA promises to be an entrée for domestic investors into these emerging markets.

Cityscape USA has attracted support from major industry firms including investment sponsor, Dubai-based Nakheel; platinum sponsor, US-based CityCenter; as well as silver sponsors US-based ING, Savannah, and Capri Capital Partners. The event is scheduled to run from the 9th to the 12th September in the Javitts center, New York. To pre-register for the event go to: Cityscape USA

Atlantis (Palm Island), Dubai, 10-11 November 2008

Following the launch of the Russia Investment Roadshow in London in April 2008, in the first of a series of events in international financial centers, the Roadshow will move to Dubai in November 2008, for an intensive, interactive event focusing on investment opportunities in Russia and on the continuing growth of Russian investment abroad. With Dubai’s increasingly prominent role as a global investment hub, and with ever strengthening commercial links between the UAE and Russia, the time seems right for the Russia Investment Roadshow to visit Dubai..

The Russia Investment Roadshow will include industry CEOs, bankers, investors, journalists and other opinion formers from Russia, Dubai and all around the world. The centerpiece of the Roadshow will be a two-day conference presenting an in-depth look at the Russian business landscape and its links to Dubai and other global marketplaces. In addition to the conference the Roadshow will comprise the Russian Rhapsody VIP charity gala dinner, the Moscow Motion After Party and a special dinner event for the finance community, the Bull & Bear Banquet.

Dubai has built a dynamic economy founded on trade, manufacturing and financial services in addition to revenues from petroleum and natural gas and is becoming the driving force behind the United Arab Emirates economy. In recent years, Dubai has attracted world-wide attention through innovative real estate projects and sports events. This increased attention has further fuelled its emergence as a world business center.

If you are interested in obtaining tickets for this show, the RUSS!A investment roadshow website is here.

HH Sheikh Mohammed bin Zayed Al Nayhan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces opened the exhibition at the Abu Dhabi National Exhibition Centre. The show was sold out some months ago, with over three hundred confirmed exhibitors covering more than thirty thousand square meters of exhibition space.

The luxury property market in the Gulf shows no signs of slowing down. Roads to the centre were initially clogged from early morning and massive queues surprised even the organizers IIR Middle East.

“We have been overwhelmed by the response on the first day of the exhibition. We’ve actually had to deploy extra staff, such was the demand and we didn’t want people waiting around. To anyone who was, I offer our apologies for the inconvenience,” said Mark Goodchild, the Project Manager.

Goodchild estimates attendance could easily reach more than 30,000 visitors, double the numbers recorded last year. This based on the first morning’s attendance.

“A lot of people have been talking about the global credit crunch and the impact on property markets, but judging by today there is still a massive interest in the Gulf and Middle East,” added Goodchild. “Liquidity is alive and well, certainly here in the Capital and so are the investment opportunities.”

Sheikh Mohammed has agreed to be patron of Cityscape Abu Dhabi for a second successive year, to underscore the importance of the event as a showcase for the capital’s intricate planning, sustainable projects and investment transparency

The Abu Dhabi government and locally-based real estate heavyweights have also shown full support for the industry showcase. Major local developers such as Mubadala, Sorouh Real Estate, ALDAR Properties and Al Qudra Real Estate will all have a significant presence.

Two parallel conferences will run alongside on sustainable development and real estate finance and investment. The green theme continues at the Cityscape Abu Dhabi awards dinner at the Emirates Palace in Abu Dhabi on 13 May which will recognize excellence in real estate investment and development, including Islamic finance and sustainability awards.

Platinum sponsors of Cityscape Abu Dhabi include Mubadala, Aldar, Sorouh, Al Qudra, The Land Holding Company and Escan. Gold sponsors include Dubai World Central, Tameer and Saudi Oger, with Future Brand and East & West Properties taking silver status. The Department of Municipal Affairs of Abu Dhabi is associate sponsor, Urban Planning Council of Abu Dhabi is Strategic Planning Partner while HSBC is investment sponsor.

CityScape Abu Dhabi