The Sun & Sky Towers, Abu Dhabi’s tallest construction. Image courtesy of MarceloDubai

Less than two weeks after the principals penned a deal that would breathe life into Pakistan’s economy has now been scrapped by Abu Dhabi Group, the investment firm Sheikh Nahayan chairs. Reuters was not given any reason for the reversal of fortunes, but what was supposed to be the biggest ever outside investment in Pakistan is apparently a “no-go”.

In the original story Abu Dhabi Contracting reportedly signed a non-binding preliminary agreement to cooperate with Bahria Town Pakistan. Terms of the deal were not specific, but it was originally reported the construction in Pakistan would include the world’s tallest building. No further world on Sheikh Nahayan’s statements on the failed deal are forthcoming, but the Sheikh has a portfolio includes investments in Africa, Morocco and in the agribusiness worldwide.

Cyrus Mistry (left), who took over for legendary businessman Ratan Tata, offered this with regard to the investment climate there in India:

“The recent emphasis on policy clarity and a renewed thrust to economic reforms by the Government of India is encouraging. With a sustained focus on policy stability and implementation, I believe that India would continue to be an attractive investment destination.”

ata Housing Development Company Limited

Tata Group owns some 100 plus companies worldwide already including legendary auto maker Jaguar, and
It seems safe to assume at least some of this new investment will be earmarked for real estate, given the group’s past interest in the sector. The conglomerate has Tata Realty and Infrastructure Limited and Tata Housing Development Company Ltd., as well as several key investment arms in the real estate space.

Just last month Tata Housing announced the expansion of developments for affordable housing in India via “Smart Value Homes Limited forays into Bengaluru”, and high end real estate ventures have been in the news for Tata of late as well. On the demand side of the real estate equation in India, the New York Times reported last month on a coming construction boom fueled by the lack of appropriate real estate space for International brands like Walmart to expand into there. The point being, there is little quality commercial space in all India for stores to take up business in. New construction would seem a logical investment avenue for any conglomerate.

Tata has almost half a million employees worldwide, and one of the most valuable brands in the world. It remains to be seen what path the new CEO will blaze to extend the empire Ratan Tata created. Manufacturing to services and beyond, $8 billion almost seems like a puny sum when all Tata’s assets are weighed. Still, forward momentum is always positive news.

Sunrise on Belize real estate.

Those living outside Belize who would like to purchase real estate should be aware of the laws and fees surrounding Belize real estate acquisition. Non-Belizean citizens are free to purchase land and be granted full title to the land; however, everyone purchasing more than a ½ acre in a city or 10 acres in a rural area must first procure a permit called the Alien’s Landholding License, which is issued by the Department of Natural Resources. In order to obtain this license, you’ll have to present a plan detailing what you will do with the land. This law was created in the ‘70s, in an effort to curb rampant Belize real estate speculation.

Of course, financial issues are also usually on the minds of those looking to purchase real estate. As a non-Belizean, you’ll be required to pay a 15% transfer tax to the Government of Belize when you acquire the land. Attorney’s fees are usually 1-3% of the sale price; a token registration fee is also required. You are entitled to your own legal council when purchasing land in Belize. However, if you have training in real estate transactions, such as online accounting classes or a finance degree online, you may close the transaction yourself.

As in the U.S., in Belize real estate agents generally charge sellers around 6-7% commission on property sales. Buyers purchasing land in rural or remote areas should also be prepared to pay for travel expenses. Foreign individuals looking to invest in land in Belize are generally expected to pay cash for a property, as little financing is available to foreigners.

Currently, regular property taxes in Belize are around 1-1.5% of the value of the property, as is determined by the Department of Natural Resources. Other property taxes are a yearly 5% tax on tracts of more than 300 acres. The tax is paid on the land’s undeveloped value, and was created to help spread development throughout Belize and lower land speculation.

Source:

University of Denver

Joy Payley is a writer and editor for the blog writing company, Article Writing Services.

Allianz Treptowers Berlin

By all accounts, it appears the big institutional investor has renewed confidence, even a bullish confidence in this market segment. Since the economic downturn, many investment portfolios have to have been devoid of real estate chips, but not so for retail space. While office buildings still account for the lion’s share of this segment, investors now seem intent on insulating themselves from vacancies and other negatives associated with the office sub-market.

Olivier Piani CEO Allianz - the man driving the machine

For Allianz, their target margin is between 5 and 6 % yield, and according to their signals, it looks like offices may lose a bit of ground to retail and residential. And, REIT’s are hunting for retail deals too, a slight shift in strategy from selling their stakes these last two years. Allianz, and progressive companies like them, have been the buyers of these divestments so far.

Harm Meijer, head of European property research at J.P. Morgan Chase, in a report from MarketWatch, said U.K. REITs will likely want to reverse the trend, especially those able to withstand market fluctuations. He suggested too, that some property stocks with exposure to UK retail might return as much as 18%.

The new office tower complex is being designed by world famous architects Gruber + Klein-Kraneburg Achitekten, as well as Jean-Paul Viruier. The 40 story, 650,000 square foot tower is to be located on the Wallenlage, or the park that runs through the middle of Frankfurt’s financial district.

(Photo removed at the request of the photographer)

The project is another indication of the preeminence of Tishman Speyer in the commercial development and investment game. The company began operations in Frankfurt back in 1988, and has been a leader in the industry since. Tishman Speyer has 13 real major estate investments in five German cities.

Jerry Speyer with his lovely wife Katherine G. Farley

TaunusTurm’s announcement came at an event hosted by Tishman Speyer Chairman and Co-CEO Jerry Speyer (above), Commerz Real AG Board Member Hans-Joachim Kuhl, and Frankfurt Mayor Dr. h.c. Petra Roth. Speyer commented that when OpernTurm sold last year, it was almost completely leasted out – suggesting a continuing demand for such office space. On this current project, the CEO had this comment:

“This project reflects our strong confidence in the investment potential of the Frankfurt market and this outstanding location. Frankfurt is not only an international financial capital; it has been called the most forward-looking city in Germany. We are proud to be able to help shape its future contours and look forward to a continued presence here.”

TaunusTurm in the overall Frankfurt scheme

This bit of good news reveals the strength Tishman Speyer still wields in the International real estate world. The company has always been extraordinary where new developments are concerned. The Stuyvesant Town and Peter Cooper Village debacle in New York City that left the company hung with billions in bad debt, has apparently been overcome. Face it, it’s not every company that can withstand a nearly $6 billion disaster and still keep chugging forward. Speyer’s company was one of the hardest hit when the real estate bubble burst.

Frankfurt is the financial capital of Germany, which actually makes it the financial capital of the EU for many. These new developments by Tishman Speyer and others are positive indicators of the core economics of the region for many experts. 2011 is looking up a bit, where commercial high end real estate is concerned at least.

Original source - BusinessWire press release from Tishman Speyer.

Frankfurt across the river at night - courtesy Valeri Fortuna