Bali’s Ngurah Rai International Airport Indonesia will soon undergo a major expansion and renovation, according to an announcement from Indonesian Vice President Jusuf Kalla. The project will begin in the Spring of 2009 and is scheduled to take approximately two years to complete.   Kalla was in Bali recently and took part in a meeting at the airport to plan the expansion. Afterwards, he said that...

Brazil and Chile are the best positioned countries to weather the international economic storm and lead the way in Latin America, according to news and analysis of the region. These two countries have shown fiscal prudence while other regional economies have not been so disciplined. As a result, Brazil and Chile are well-positioned for 2009 and look to be good places in which to invest.   Both of these...

Prices in the most expensive real estate market in the United States have fallen over the past year, according to one expert. Brown Harris Stevens is a luxury real estate firm and it recently revealed that average property prices in New York have fallen for the third successive quarter.   Manhattan is the most expensive place to live in the US and has been generally resistant to past recessions and...

The World, Dubai’s island development that is shaped to resemble a world map, has been selling strongly according to developer Nakheel. There are some 300 man-made islands that are in the shape of the continents and their countries, and approximately 70 percent of them have been sold.   In a recent interview, Nakheel’s managing director Hamza Mustafa said that “This year and the previous year’s...

Property in Taiwan's beautiful capital Taipei could fall 5-10 per cent in 2009 and the value of real estate across the island reports property services company DTZ (DTZ.L)   "Things are looking very cloudy for the real estate sector right now, and the industry will have to decide whether or not they want to push prices down further," said Billy Yen, general manager of DTZ's Taiwan unit.   Commercial...

6/01/2008 Prospects for the Pound in 2009 are as uncertain as ever – a look at this week’s upcoming events which are likely to affect exchange rates at the beginning of the year. After a quiet Christmas, there is lots of data out this week from around the world. “If you are looking to transfer money overseas at the best exchange rates, it’s worth speaking to your currency broker to keep up to date...

Property analysts and executives in the Middle East are looking to 2009 as a good year, despite many predictions of an overall slowdown in global real estate. It appears that oil prices have bottomed out and, with them, property prices as well. As prices rise there will be an increasing amount of investment in the Middle East once again and real estate will regain its footing.   Adnan al-Haddad, chief...

InterContinental Hotels has just reopened its Al Bustan Palace Hotel in Muscat, Oman after extensive renovations. The restoration work to the luxury property located just outside the capital city and on the shores of the Gulf of Oman was comprehensive. The work involved redoing and upgrading the lobby, beach and garden area, sports facilities and most of the guest rooms and suites.   In addition to the...

Ski resorts in France are off to a good start for 2009, providing plenty of opportunities for rental property owners. With some of the biggest snow in December, the holiday season had lots of good skiing for people to enjoy. Additionally, the tough economic times mean that more local residents in France and the surrounding countries are staying closer to home.   Protourisme, a market analysis firm,...

A new race track is being constructed on Yas Island and will host the 2009 Etihad Airways Abu Dhabi Grand Prix. This race will be the final one for the 2009 Formula One season and is scheduled to take place in November, 2009. This will be the second Grand Prix in the Middle East, following one in Bahrain.   Yas Island is a major new development off the coast of Abu Dhabi that is being overseen by Aldar...