Issue: November 10, 2008 (Archive)

Tuesday, September 7, 2010

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One mall to rule them all
The vast Dubai Mall finally opened for business on Tuesday but the success of the US$20 billion (HK$156 billion) project is far from certain amid the financial tsunami.

Downright beautiful
Come on down, Stefan Lemperle says. Here, 13 feet under the ground, there's sunlight and fresh air, an open-to-the-sky patio with a rock-lined pond, a high- ceilinged lounge and a media room large enough to host dozens of friends of the surgeon and inventor of medical devices.

Oscar winners
At almost 101 years of age, the great Brazilian architect Oscar Niemeyer's eyesight is pretty much limited to peripheral vision, but he's still working. There are cultural centers in Spain and Chile to be finished, and a corporate headquarters in Paraguay.

London office demand worst in Europe
London's office market is suffering the most in Europe as the global credit crisis curbs demand in the UK capital's main financial district and Canary Wharf, Moody's Investors Service said.

Central stands firm
The global credit crisis may be causing havoc in the property market in Hong Kong, but realtors are hoping for some light amid the gloom. Grade A office rents in Central are predicted to be generally resilient over the next year.

Gulf region, an anchor in the storm
Real-estate markets in the Middle East will outperform other regions of the world over the next two years, according to research by Jones Lang LaSalle.

High flyer
With the world's tallest building nearing completion, Dubai developer Nakheel says it is embarking on an even more ambitious skyscraper: one that will soar more than a kilometer.

High-end homes dangled before expats
As financial assets continue to evaporate, end users and investors are being tempted to take a look at high-end real estate in Sydney, Australia, where they might just find their dream home, if not an asset that pays off in the long term.

Trimming the fat
Sheldon Adelson, the majority owner of Las Vegas Sands Corp, said his family has invested US$475 million (HK$3.68 billion) in the casino operator so it could pay down debt and maintain leverage ratios.

AIG may offload buildings to raise cash
The troubled American International Group, which is selling assets to repay a US government loan, may seek buyers for some of its US$16 billion (HK$124.2 billion) in global real-estate holdings in Asia and New York.

The Rainmakers
Financial markets are in upheaval and the housing sectors in the United States and the UK are in a shambles. Home sales in parts of the mainland have also shrunk. Investor appetite for risk has diminished and many in the main street are trying to get their bearings right.

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