Office acquisitions have become an increasingly popular business investment in Moscow, particularly as the world wide economic crisis has driven prices for these properties down. A recent report from property advisors Jones Lang LaSalle indicates that the market for offices in Russia’s capital city has grown this year, and will continue to be strong in the future. Vladimir Pantyushin is the Head of...
The European Union announced that it has cancelled the next round of membership talks with Croatia due to a border dispute with Slovenia. The border dispute has been going on for 18 years since both countries declared their independence from Yugoslavia, and has been a stumbling block in the ongoing EU talks for Croatia. Slovenia insists that it be resolved before negotiations resume. Slovenia joined...
The Turkish city of Bursa has just launched a new campaign to lure travelers to the city. Entitled “To Bursa on the weekend,” the campaign hopes to attract some of the many travelers who are an increasingly important part of the country’s economy. Bursa is located just inland from the Sea of Marmara and is a little over 100 kilometers south of Istanbul, making it an ideal destination for a weekend...
Marriott International recently announced that it is opening its Courtyard brand of hotels to Turkey. The first property to open in the country is the 262-room Courtyard by Marriott Istanbul International Airport. The hotel is five kilometers from Istanbul’s Ataturk International Airport and about a 25 minute drive from downtown Istanbul. “This hotel is designed specifically for European business...
Dubai’s Monarch Hotel on Sheikh Zayed Road plans to auction off hotel rooms in an effort to increase visits and entice potential guests to its five-star property. Hotels in Dubai have been hit hard by the global economic downturn and this is seen as one way to attract both attention and potential customers. Arshad Hussain is the hotel’s director of business development and indicated that...
Over the past year an increasing number of city dwellers are making plans and moving to the countryside. According to Knight Frank, since June, 2008 the number of people who have planned to move out of London has increased by nearly 10 percent. And that means going farther out, as well, according to a recent article in The Telegraph. With prices in the city settling down and even starting to increase,...
Brazil plans to cut the TJLP long term interest rate to 6% from 6.25% at its meeting on June 30, according to Finance Minister Guido Mantega. The move is set to be ratified by the National Monetary Council, or CMN, and is intended to stimulate investment among Brazilian companies. The council reviews the TJLP every three months. The minister made his remarks during a speech in the capital city of...
Private property transactions in Singapore rose in May to 1,688, which is close to the all-time record of 1,731 that was reached in August, 2007. The Urban Redevelopment Authority (URA) data is an encouraging sign that the property market in Singapore is already on the rebound. Analysts note that the rise in sales is due to several factors, including gains in the stock market as well as developers who...
The Heights Phuket condominium development has been completed and is now open for all residents. The award-winning condo on Thailand’s PhuketIsland, undertaken by developer RaimonLand, is one of the few new condo developments that is expected to open this year on time and on budget. The 51 luxury condominiums at The Heights are nestled on a hill overlooking KataBeach. The project has sold well, but...
The Italian city of Trieste is hosting the G8 Foreign Ministers from June 25 to June 27. Over 40 national delegations plan to be at the Trieste Foreign Minister’s Meeting, which is the major occasion for political talks among the foreign services prior to the L’Aquila Summit. Trieste is along the northeast Italian coastline and lies near the border with Slovenia and, beyond that, Croatia. It has...