An Island from ‘The World’

the world island for sale 468x299 An Island from The World gets enlisted for sale

An investor in the World project (Dubai) has listed an island on sale defying the “no flipping” diktat by UAE Defense Minister, Nakheel. The 20,000 sqm island is up for sale for Dh42 million ($11million), according to Streamline Real Estate Brokers, the agency brokering the deal.

When contacted about the ‘re-sale’, a Nakheel spokesperson said: “Flipping is not allowed for islands on The World.” However, a financial expert said if an offshore company owns the island then it can transfer shares to another person/company, thus transferring ownership.

“The question is whether Nakheel will accept the new owners,” he added. Shahama Ozon, consultant at Streamline, contended that while transfer of ownership is a complicated procedure, a secondary sale is possible, “subject to Nakheel’s approval”.

Victoria Scott-RichardsAn Island from ‘The World’

The floating home

exterior view large 468x171 The floating home

X-Architects closely collaborated with Leen Vandaele, interior decorator architect and design consultant from Squisito, to create a houseboat that inventively combines the nautical lifestyle of relaxation and enjoyment with crisp architectural tectonics. The fundamental structure of the floating home is created from two catamaran beams, stainless steel and glass. The layout of the structure, which is 20 meters by 6.7 meters, includes an upper deck containing a concealed kitchen, living room and an informal dining area.

Victoria Scott-RichardsThe floating home

The Chicago Spire and its $40 million penthouse

Chicago+Spire The Chicago Spire and its $40 million penthouseThe Chicago Spire, is one of the most ambitious projects in the U.S. According to Chicago Tribune, developer said Tuesday that it has sold 30 percent of the building’s condo units, which, it says, is proof the world’s tallest residential structure will be built.

The developer says they have already sold 30 percent of the building’s condo units, sending a strong signal that there is enough interest in the project despite the fact that the condos are priced higher than others in the city (the studio units start at $750,000) and that the developer has required 15 percent of a unit’s price upfront for each sale.

 

Victoria Scott-RichardsThe Chicago Spire and its $40 million penthouse

Tel Aviv’s $34 Million Apartment

Tel+Aviv+gtower Tel Avivs $34 Million ApartmentThe new apartment has 360 degree views of the city and measures 1,500 square meters (around 15,145 square feet) for a price of over $22,000 per square meter. The Gindi Group, which developed the G Tower recently announced the selling price for the triplex flat which combines a former duplex and penthouse apartment on the 24th, 25th and 26th floors.

The new apartment is located just under the triplex which was purchased by the holder of controlling interest for Bank Hapoalim, Shari Arison, for $13 million. The tower has 31 floors with 40 apartments. Building amenities include a culture center with a library and bar, a fitness center, swimming pool, conference center, underground parking and tight security. Haaretz.com some real estate agents in Tel Aviv think the price is way too high, especially since a $25 million penthouse in the Sea One Project on Hayarkon Street failed to sell.

Victoria Scott-RichardsTel Aviv’s $34 Million Apartment

World’s tallest residential tower in Mumbai

world one 468x312 Worlds tallest residential tower in Mumbai

A Mumbai developer is about to start construction on what he claims will be the world’s tallest residential tower. Mumbai builder Lodha Developers Ltd. said it will finish the over 117-story stack of private homes called “World One” in 2014.

At more than 450 meters, it will be taller than the Empire State Building in New York or the Willis Tower in Chicago. The developer told the Wall Street Journal that the building will go green by recycling its water, harvesting rain water and using solar power.

Victoria Scott-RichardsWorld’s tallest residential tower in Mumbai