Cityscape 2008 kicks off next month in New York with an interesting slant this year. Due to falling real estate values in the US and the drop in value of the dollar, US based developers and agents are looking to investors from overseas, particularly from emerging markets

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. More on Cityscape 2008 – New York

Sentosa Cove is a luxury residential development on Sentosa Island, Singapore. Once building is complete,  eventually housing about 2,500 units. The Island is mostly made of reclaimed land and the development is it is being marketed as a "exclusive oceanfront residential community.”

The master developer of the site is Sentosa Cove Pte Ltd, which is a subsidiary of Sentosa Development Corporation. SDC purchased the site from the Singapore Land Authority for a sum of about S$800 million.

The idea was originally conceptualized by Bernard Spoerry (Port Grimmaud, France) then updated by McKerrell Lynch. The first offering of apartments were apparently sold out within the first few days of being offered, which makes it surprising that so many luxury real estate agents are still offering them for sale.

Sentosa Cove represents the first, and thus far, only opportunity, for foreign investors to own residential land in Singapore,. Sentosa Cove investors receive a variety of financial benefits, in addition to 48 hour fast-track approval when purchasing properties or plots. The marina and associated berths attached to luxury waterfront housing estates will ultimately cater for more than 700 boats, of which ten of the marina berths will house 50 meter mega-yachts.

Sentosa Cove Home Page

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