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Whether you are looking for a green prefab, or whether you just want a raffle ticket for a foreclosed house (I kid you not), here is a round up of some of the more interesting stories in the news this, and last week.

Luxury Real Estate News

The Ultimate Crash Pad - Trump Tower (National Post)

Once again I seem to be talking about Donald Trump. Either a), I have developed some kind of obsession, or b), Donald Trump is up to a lot this month. However, this article in the National Post focuses more on DonaldTrump Jr., and the new Trump building that is being constructed in Toronto.

World Real Estate News

How Wall Street’s Bust Threatens Dubai’s Boom (Time Magazine)

The market is Dubai is staying strong, but for how much longer?

South East Asia Property Market Likely to Weather the Global Downturn (PropertyWire.com)

However, it’s a different story in SouthEast Asia, which seems to be weathering the downturn…

U.S. Real Estate Becomes a Game of Chance (The Globe and Mail)

How would you like to buy a $600,000 house for $100? Sounds too good to be true? Some people in the U.S. are so desperate to sell their houses that they are raffling their homes off. But does it pay off?

And for Halloween? A creepy real estate story…

Our Creepy Old House (The Globe and Mail)

If you want to discuss these stories, or any other stories which were in the news in the last couple of weeks, feel free to post below….

It’s another monumental week in the real estate world. Once again, Taking ’stock supplies you with some interesting tidbits to keep you up to date on various world developments (no pun intended). If you read anything in the news that you think should be in next week’s blog, feel free to comment on the posting. Alternatively, if you want to comment on any of the stories listed here, let us know what you think!

Luxury Real Estate News/Views

Neighbor says Golf is a Sport Too Close (New York Times)

A lot of people want to be near to their favourite golf course…but how near is too near? A resident whose house is next to the 6th hole (a par 3) at the Winged Foot Golf Club is sick of golf balls hitting his property, breaking his windows, scaring his children, and making his dog sick. The hole is currently closed due to a restraining order brought against the club. You know it has to be serious when Donald Trump is offering to mediate.

It’s not Easy Being Green - If You are Buying a Luxury Home…

This week’s Realestock blog entry looks at how many luxury buyers are not concerned about their homes being environmentally sound. However, some developments are managing to combine good living with good style.

America’s Luxury Homes, Downsized (Forbes)

On a similar theme, Forbes.com has written this interesting article about how many popular luxury properties are smaller than traditional ‘luxury’ housing. This is partially due to the lack of space, growth of environmentalism, worries about reselling the property in this less than buoyant market, and, more importantly, because it isn’t 1987, and big doesn’t necessarily mean classy. After all, is it better to have Foie Gras, or a Big Mac?

Worldwide Property News/Views

China’s Homeowners Feeling Little Pain (Newsweek)

Here in North America, we are all on tenterhooks, fearful to hear what will happen to the property market next. However, in China, people are not feeling the pinch as we are. According to Newsweek, the cost of an average home has increased fourfold in the past eight years, and China’s 80-million strong middle class are clambering to get on to the property ladder. Whether the market will eventually deteriorate like ours is still uncertain, but for the moment, things are looking sunny for the Chinese market.

Have I Got the Candidate For You! How the Real-Estate Market Could Turn Florida for Obama (Slate.com)

We are all now acutely aware how politics can affect house prices. However, in Florida, the real estate market could affect the choice of candidate. Voters are looking at which candidate will save them from getting into negative equity. This choice could be crucial as to who becomes the next president: because as Al Gore knows, Florida can change an election.

Rise in Property Re-structuring, Recovery and Debt Business Expected (PropertyWire.com)

According to PropertyWire.com, many international real estate groups are moving into the restructuring and recovery business - due to the large amount of real estate developments and projects that are falling through due to a lack of funding, in addition to the large amount of foreclosures and other loan difficulties that are occurring.

 

Originally I was going to write all about the latest developments in green living. I read a number of articles on and offline about how developers are adding green features, how some real estate agents are biking to viewings and open houses (How do they transport clients? Do they sit on the crossbar? In the basket?), and how many buyers are asking about energy efficient appliances and baulk at the idea of marble counter tops.

However, a couple of weeks ago I read an interesting article in Canada’s Globe and Mail (www.globeandmail.com), where writer Terrence Belford illustrated that in Toronto, despite the fact there are more homes being built to LEED (Leadership in Energy and Environmental Design - the Green Building Rating System) standards, there are very few in the ‘luxury market’ (which the Globe and Mail describe as being anything that sells in Toronto for over $600 a square foot). It appears that while the mid to low-range buyers are interested in energy star appliances and recycled materials, luxury buyers are not. In fact, luxury buyers are going in the exact opposite direction – buying huge energy-zapping fridges, asking for counter tops made from nonrenewable stones, gas-fueled stoves and hardwood floors made from rare woods. The writer of this article suspects that “…environmental concerns are not on their list of priorities”.

This, to me, is rather worrisome. We are at a time in history where how we deal with environmental concerns is critical. Everyone, irrespective of their income, should be doing their part – even if it is just recycling their bottles and using reusable shopping bags to buy groceries. The writer of this article comments that most luxury buyers are in their 40s and 50s, and that it is younger buyers and developers who are interested in saving energy, not those who to whom utility bills are something that you ‘don’t pay much attention to”.

I don’t believe that this generalization is entirely the case. Many luxury condo buyers downsize from larger houses, and so there must be an element of that choice that relates to the fact that condos are easier and cheaper to maintain than houses are. Also, ask anyone on the street about their opinions on the environment, and most people will tell you we need to become more energy efficient in our general lives.

However, someone must still be buying those fridges that are bigger than my bathroom – but can’t energy efficiency and luxury go hand in hand? Can’t you have the counter top you’ve always wanted without decimating a small forest? Some developments have the answer.

The Dockside Green Development in Victoria, British Columbia (www.docksidegreen.com) combines luxury with green living. Prices range from a mid range $289,900 to a luxury $1,233,900 for one to two bedroom (plus den) townhouses and condos. This popular development combines high end products with environmentally friendly additions, including:

- 100% fresh air through central or individual heat recovery ventilators

- Low, or no volatile organic compounds, paints, sealants, adhesives, and avoidance of the use of urea-formaldehyde composite wood products

- High-end energy efficient appliances (they do exist!)

- Sewage Treatment: 100% of the sewage is treated on site – and the treated water will be used for flushing toilets, landscape irrigation and water features

- Alternative transportation, which will be readily available through: A car share program, upgraded bike trails, bike racks in the building, harbor ferry dock, transit, and a mini-transit shuttle bus – the point of this being the elimination of a car, or at least of a second car

- Bamboo flooring and kitchen cabinets (there is also an option for cork flooring)

- Salvaged wood products will be used

- Biomass heating, with a back up natural gas fueled boiler – which will make the building greenhouse gas neutral

One look at the interior and exterior shots of this building will show you that this is definitely geared for the high medium to luxury market, and it is paying off – already many units have been sold, including the commercial spaces for a restaurant/pub, a café and a bakery.

At the end of the Globe and Mail article, a developer is quoted as saying that it doesn’t matter what changes are made now, as the changes that are slowing coming through will eventually become the standard, and possibly even law. Therefore anyone who is resistant to these transformations will be left behind. This is an interesting point, but I feel that legal changes may not be as influential as social ones. By this I mean that being environmentally unaware is almost regarded as a stigma, and those who drive SUVs, don’t recycle, and have a freezer as big as a horse may find themselves being scorned by their peers, which is much more damning than any law could every be.

Whatever the reason – social or legal – environmental building is here to stay. And what to say of those changes that I wanted to mention earlier on? Here are some green changes and events that are happening around the world:

- At the University of Wisconsin-Madison, The Wisconsin School of Business Graaskamp Center for Real Estate will host a conference on Sustainable Real Estate Development

- Ecobroker (the first and largest provider of green real estate training for realtors and other licensed real estate professionals) celebrated its 4,000^th member this August

- In Chicago Agent Magazine, K.K.Snyder Reports that in Chicago, the amount of clients who want environmentally friendly homes dramatically outweighs the number of energy efficient houses and condos. People are taking an interest because these houses are not drafty, don’t have ‘hot’ or ‘cold spots’, and are more comfortable for owners, in addition to helping the environment

- Green building rules are to come into effect in Abu Dhabi, in January, 2009. According to Propertywire.com, Abu Dhabi’s Urban Planning Council aims to set new standards for sustainable development, and hopes that this will encourage similar plans throughout the Middle East region

So whatever your budget, consider going green, particularly when choosing your appliances. Being efficient doesn’t mean being cheap. Yes, you may think that people will love your top-of-the-range stainless steel 20ft fridge, with 6 water dispensers, but secretly they’ll be thinking that you’re as bad as those people who drive their Hummers ten meters to mail a letter. There are a number of stores and designers who specialize in creating high-end, environmentally friendly products, so while you may have to search a little harder, it’ll be well worth it in the end.

The views expressed on the blog portion of this site represent only the opinions of the author and may not necessarily be the opinions of Realestock.com

Do you have a view on green building? Do you think that luxury buyers shouldn’t care about the environment? Let us know by posting below! 

Concierge Auctions Pleased With Results of Luxury Real Estate Auction

Source: Concierge Auctions www.PR-Canada.net

Monday, 06 October 2008

Today Concierge Auctions hosted a luxury real estate sale of two bay front estates on Siesta Key, Florida. The auction was located at the Sarasota Ritz-Carlton Hotel, with over 100 attendees.

“It was a very well organized, transparent event,” said Marisa Marino of Horizon Realty. “A client of mine participated, but unfortunately he was outbid. He and I look forward to participating again in the next sale.”

This was the debut of Concierge Auctions’ innovative Guaranty Program. The program benefits both buyers and sellers, as they can participate with confidence knowing the properties will sell on Auction Day regardless of the high bid.

“In the context of the current economic climate, I am thrilled that we were able to aggregate a strong crowd, including 26 qualified bidders willing to spend millions of dollars for these exceptional properties,” said Stuart Mattison, Director of Sales. “The fact that they not only attended the event but also actively participated was encouraging.”

AUCTION RESULTS (high bid plus premium)

1356 Point Crisp Road: $2,772,750

850 Mangrove Point Road: $2,200,000

“We are pleased with the results and have received outstanding feedback from the real estate community. Our format has resonated, and we believe we are on our way to bringing the auction process to the mainstream,” said Laura Brady, President.

Concierge Auctions has made the determination that it is in the best interest of the seller and registered buyers of 850 Mangrove Point Road to re-offer the property in the next Sarasota auction in December. The decision was reached after the firm was notified that at least two buyers were precluded from placing their highest bid on the property.

Sellers interested in the Sarasota December sale should contact Concierge Auctions immediately. Availability will be limited to a maximum of five properties, which will be selected within the next four weeks. As always, Concierge Auctions fully protects listing and buying brokers. For further details and registration, visit www.conciergeauctions.com or call 888-966-4759.

PR-CANADA.net

Source: Concierge Auctions

Welcome to our newest Realestock feature. Every week, Taking ’stock will give you a roundup of the news and views that have arisen in the past week.

Luxury News

What’s on the market: While new record looks unlikely, Palm Beach primed for big deals (The Real Deal, NY)

Looks like luxury homes in Palm Beach are still doing well. Multi million dollar homes are still on the market, and are selling!

Young guns driving enviro-condo push (Globe and Mail)

The Green Movement is growing…but is the luxury market lagging behind? Why aren’t luxury buyers going green?

General North American Real Estate News

Economist debate whether US property market plunge will cross into Canada (Property Wire)

Housing market could soften more but not crash: CIBC (Globe and Mail)

Prudent Canada won’t experience a U.S.-style housing collapse (Vancouver Sun)

There’s been a couple of articles on this in the last week. The bad news? House prices will go down. The very good news? Most economists, including those at CIBC, BMO, and Desjardins, assure us that Canada will not suffer the same crash that the US is currently experiencing.

Loonies find a second home in U.S. real estate (National Post)

Many Canadians are taking advantage of the US property market…by buying vacation homes in the States. But is this a wise buy?

Bailout plan offers vague help to homeowners (Associated Press)

It looks like the bailout may not help those US home owners who are currently losing their houses, but may help to stop a rapid drop in house prices…

Miscellaneous and Fun News

A Million Reasons to Look Globally?

This week on our Realestock Blog: What does your million buy around the world? Will it go further in Paris, London or New York?

Sex and the City’ Writer Bushnell Probes Real Estate (Bloomberg)

Candice Bushnell, famed writer of “Sex and the City” has set her newest novel in the backdrop of Manhattan’s booming real estate market. OK, so she’s a little out of date…but it sounds like a fun read…maybe something to take your mind off the current real estate woes?

The Barenaked Ladies may once have sung “If I had a million dollars”, but since the rise of “Who wants to be a Millionaire” or “Deal or No Deal”, the once giant amount of a million dollars has really begun to lose its meaning. If hanging out with Howie Mandel for an hour can make you a million - I’m in (however, two hours – might be too much).

Recently on Forbes.com, I read an article on what kind of real estate you can get for a million US dollars. Considering Realestock has luxury developments listed in various countries, I rushed to read it.

The differences are astonishing:

In Cape Town, you can get a five bedroom house with amazing views, a tennis court, pool and pool house, and a computerized irrigation system to water your extensive grounds

In Namibia, you can get a four bedroom, three bathroom ranch, with an additional one bedroom apartment to rent out, if you so wish

In Beijing, $1million gets you a four bedroom serviced apartment, with access to two pools and a gym

Your money does well in Toronto – You can get a three bedroom house, with beautiful bay windows and a pool

In Paris, you can get a two-bed duplex! However, you might want to stop jumping for joy – because that’s a 230 square foot duplex

What does $1 million buy in Tokyo? A 600-square foot, one bedroom apartment

A million dollars doesn’t go far in London, England, which is hardly a surprise. Forbes discovered a three bedroom flat in Maida Vale (a relatively upscale part of London), which they described as ‘drab’. Hey! In England we’d call that a ‘character’ apartment!

As for New York, prices are dropping, so your million goes a little further than it did a few months ago– you can now afford a one bedroom, 670 square foot apartment in Chelsea, with dramatic city views, a doorman, and various other amenities.

So what does this mean for luxury real estate? Possibly this indicates that the boundaries have changed, and that depending where you are buying, a million dollars doesn’t necessarily indicate luxury. If you spend $12 million, chances are you’ll still get that luxury home, - irrespective of where you shop, but in many of the most desirable cities, that sole million won’t go very far.

It also indicates the strength (or not) of the US Dollar – which is important for most sellers and developers, particularly for those selling their properties in the current ‘buyer’s market’. If you have properties in the US, you may find that British, Japanese or European customers may be interested in purchasing property in the States where their £500,000, €700,000 or ¥106,000,000 will go much further (Would you rather have a three bedroom house in the Hollywood Hills, or that ‘character’ flat in London?). Conversely, if you are selling a development in Costa Rica, Mexico, or somewhere else where US buyers will be able to stretch their dollars a little further, you may find that you’ll have more inquiries stateside.

Either way, what you need is international exposure, and knowledge of where to base your marketing and promotional dollars. Listing your property on Realestock is one way to do this. We have visitors from all over the world, so potential clients looking for the bigger bang for their buck, whether they’re in Berlin, Germany, or New Berlin, Wisconsin, will be able to view your property, and see what they can get for $500,000, $12 million, or indeed a million dollars. If you are really looking for that $1 million price tag, we have a range of condos, townhouses, and yes, even estates that are priced around the million mark. And look, you didn’t even need to phone a friend, or challenge the banker!

 

The views expressed on the blog portion of this site represent only the opinions of the author and may not necessarily be the opinions of Realestock.com

 

From Lohud.com:

 

Westchester’s priciest property: $95 million. Taxes on a $95 million property: $221,166. Living large in your own personal paradise: priceless.

Yes, it really is Westchester’s priciest property and it’s really on the market.

Hillandale offers 262 acres of luxury with a capital L. Not surprisingly, this is not even your average estate - it’s a pristine private paradise.

Exquisite only begins to describe this one-of-a-kind expansive, extremely private property that uniquely combines Old World grandeur and elaborate architectural details with modern ultra-sophisticated amenities.

If your idea of bliss is having everything you could possibly want all elegantly packaged in your very own immense estate, Hillandale may be for you.

For starters, Hillandale’s next owner gets a 20,043-square-foot, 23-room sprawling estate that straddles two states (170 acres in Pound Ridge and 92 acres in North Stamford, Conn.), state-of-the-art gym, custom home theater, indoor and outdoor pools, tennis court, meticulously sculpted artistic gardens, four separate guest or staff residences, two barns, an authentic Native American tepee (built for the owners by the Smithsonian Institute), a stone chapel (created in France and reassembled on the property), a private five-acre lake and sandy beach, and, even a little history to boot - one wing sits on the foundation of the original 1900 structure.

Development of the property in past years, including its complete re-creation and transformation by the Haroche family (current owners and founders of Liberty Travel), has been handled with great care.

“The current owners have kept the property as one parcel and were committed to embellishing its natural beauty,” said Joseph F. Barbieri, one of two Sotheby’s brokers assigned to the property. “It’s extraordinary to have a property of this acreage left intact and only 45 minutes from Manhattan, which combined with its extreme privacy makes it uniquely attractive to many types of buyers.”

Large doesn’t begin to describe this expansive estate. It’s nothing short of vast - vast layout, vast grounds and vast vistas. All at a vast price tag.

Vast also means it’s actually possible to lose your way just traveling from the main gate through the 5.5 miles of scenic winding road to the majestic main house.

The estate’s grand profile continues through the home’s entrance, where distinctive antique intricate filigreed bronze and glass front doors (adorned with an 18th century royal crest) open to a grand limestone and marble vaulted reception foyer that extends the full width of the house and showcases a 12-foot reportedly unsigned Tiffany skylight and a sweeping circular marble staircase to the second level.

Pristine would also be an understatement. Most of Hillandale’s museum-quality features, including marble, limestone, onyx and gold architectural elements (from paneling to bath fixtures), were custom crafted by European artisans.

Even the cloak room off the foyer is an elegant and spacious work of art with distinctive hand-painted panels, a mirrored powder room and one of the home’s 11 unique antique fireplaces.

The foyer that opens through French doors to the home’s main fieldstone terrace also links the home’s two wings.

A walk through Hillandale reveals one awe-inspiring room after another: the grand master bedroom suite encloses his and her marble bathrooms with onyx and lapis lazuli vanities (two of the 10 full baths and four half baths), his and her spacious dressing rooms lined with wall-to-wall closets (hers includes a discrete to-die-for walk-in shoe closet), concealed audio-video built-ins, marble fireplace, private Juliet balcony and hidden passageway to an upstairs office with its own en suite powder room; a formal dining room with inlaid flooring, hand-hewn antique pine paneling and lake-view bay window; and a star-gazing or sitting room linking two of five guest bedrooms.

Two separate staff bedrooms with full baths and fireplaces occupy an upper level with back stairs to the oversized upscale pine-paneled wood-beamed kitchen designed for grand-scale entertaining with Sub-Zero refrigerator and freezer, eight-burner Viking range, three Miele dishwashers, wall-to-wall cabinets, Indian granite counters, limestone floors, an oversized storage-packed island with seating for four and an efficiently attached secretariat desk, and enclosed walk-in pantry adding cabinet space and a second refrigerator.

A home that claims two states warrants more than one address, the option of two school districts (Pound Ridge and Stamford), taxes split between two states, and a special coordination of Realtors in New York and Connecticut in a marketing reach not limited to the U.S.

Barbieri confirmed that at $95 million, Hillandale is not only one of the highest priced properties in Westchester or Fairfield, Conn., but it may be the largest.

“This is by far one of the largest estates in this area,” Barbieri explained. “To put it in perspective, Hillandale is 10 times the size of the average 20- to 30-acre estate in Westchester or Fairfield County. We haven’t seen anything like this in almost 20 years.”

On the market since the fall, Barbieri said the property continues to attract significant interest despite a downturn in the U.S. economy. “Properties in this price range normally take a bit longer to sell, but we’re seeing a steady flow of activity, particularly now that the financial markets are beginning to resolve themselves,” he said.

Realistically, who is likely to be a potential buyer? From Barbieri’s experience, a cross-section of European buyers, financiers, developers, entertainers and entrepreneurs of all kinds.

According to Barbieri, whoever visits must come fully vetted and more than financially qualified. In fact, because the property can be viewed by appointment only, Sotheby’s has withheld address details to avoid curious drive-bys.

An estate this grand is meant for a grand life in a residence ready built for grand-scale entertaining - not the having-guests-over-for-a-dinner-party entertaining, but hosting guests for a well-cared-for extended stay.

Where to put them? Not to worry. With five guest bedrooms (each with its own uniquely designed en suite marble bath) and four separate residences that can be used for guests or staff, accommodating guests is not an issue.

Neither is keeping them occupied. Hillandale offers a level of options that rival any secluded intimate resort. Among the endless choices: a conservatory equipped with drop-down ceiling screen home theater, full mirrored bar and wine coolers, circa 1650-stained glass window, and powder room with Tiger’s Eye marble vanity; a heated roughly 75-foot mosaic marble-tiled indoor swimming pool with onyx and gold inlays, spa, wall-to-wall arched windows and spectacular view, attached dressing rooms, sauna, marble bath, kitchenette and upscale custom fitness room with TV and two-way mirrors to the pool; outdoor pool and air-conditioned pool house conveniently outfitted with a kitchen, bar area, and his and her dressing rooms and baths; full-size Australian-surface lighted tennis court with a canopy-covered viewing area and oversized chess set nearby; expansive stone terrace overlooking the property’s private lake (Lake Susan) for dining or relaxing; and plenty of lavish landscaped grounds, gardens and woodlands to explore.

What guest would want to leave? Now that could be a problem.

–Karen Odom

From Albawaba.com: Sorouh Real Estate Selects Hill International as Project Manager for Six Towers at Shams Abu Dhabi Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has been awarded a contract by Sorouh Real Estate PJSC, one of Abu Dhabi’s leading real estate companies, to provide project management services for Gateway Towers 3 to 8 at the Shams Abu Dhabi development.  The four-year contract has a value to Hill of approximately AED 128.6 million ($35.0 million). Construction of the six mixed-use towers is expected to cost approximately AED 5.9 billion ($1.6 billion) and be completed by May 2012.  The six towers will have a total built-up area of approximately 1.1 million square meters (11.8 million square feet).  In addition to these projects, Hill is providing overall program management services to Sorouh during design and construction of the entire Shams Abu Dhabi development which includes residential, office, hotel, retail, entertainment and parking facilities, including Sky Tower, a 74-story residential and commercial skyscraper, which will be the tallest building in Abu Dhabi upon its completion.   In addition, Hill is providing project management services for Tameer Towers, a mixed-use waterfront development located within Shams Abu Dhabi. “Sorouh is proud to partner with companies that adhere to our own commitment to professionalism, international best practices, and creativity. Hill International reflects these innovative and dynamic attributes and I look forward to working closely with our partners on this exciting development,” said Mounir D. Haidar, Chief Executive Officer of Sorouh. The Gateway Towers will be hallmark features of the Shams skyline,” said Raouf S. Ghali, President of Hill’s Project Management Group (International).  “We are honored that we have the continued confidence of Sorouh and we expect that this development will be a major success,” Ghali added. Abu Dhabi-based Sorouh Real Estate PJSC is one of the UAE’s leading real estate companies, with projects worth more than AED 45 billion under development.  Set up in June 2005 with a capital of AED 2.5 billion, Sorouh is now one of the largest real estate developers on the Abu Dhabi Securities Market.  In March 2008, Sorouh had a market capitalization of approximately AED 20.7 billion and approximately 40,000 shareholders. Sorouh has more than 200 employees, working in master-planning and master-development and related fields, and is working on some of the most important developments in Abu Dhabi, including Lulu Island, Shams Abu Dhabi, The Gate District at Shams Abu Dhabi, Alghadeer, Saraya and Golf Gardens.  In addition, Sorouh has developed partnerships with Metro-Goldwyn-Mayer Studios Inc. and Rubicon, Inc. to explore the development of entertainment opportunities within Sorouh’s real estate portfolio. Sorouh has received international recognition for its outstanding projects. Recent awards include: • Best New Business - Middle East Business Achievements Awards 2007 • Best Commercial Project for the Gate District - Abu Dhabi Cityscape 2007 • Best Development, Central Park, Shams Abu Dhabi - CNBC Arabian Property Awards 2007 • Best Customer Service Company, Real Estate Category - Middle East Excellence Awards Institute  2008 For more information on Sorouh, please visit their website at www.sorouh.com. Hill International has 2,000 employees in 70 offices worldwide providing program management, project management, construction management and construction claims and consulting services.  Engineering News-Record magazine recently ranked Hill as the 11th largest construction management firm in the United States.

-Albawaba.com

From Marketwatch.com:

BEIJING, July 9, 2008 /Xinhua-PRNewswire via COMTEX/ — Xinyuan Real Estate Co., Ltd.,  a fast-growing residential real estate developer with a focus on strategically selected Tier II cities in China, today announced that it has been selected as one of China’s Top Fifty “Golden” Overseas-listed Chinese companies by CEO & CIO magazine, a prominent Chinese magazine focused on business management.

 

“We are delighted to be recognized among this elite group, including peers operating across many different industries in China,” said Mr. Yong Zhang, Xinyuan’s chairman and chief executive officer. “We believe that our disciplined focus on high asset turnover, efficient capital management and strict cost control helped us to be considered as a top overseas-listed Chinese company.”

 

The publication narrowed its top fifty from a list of 537 medium-to-large China-based companies listed on major stock markets, including the Hong Kong Stock Exchange, NASDAQ, NYSE and the Singapore Exchange. The magazine noted that key selection criterion was based on robust revenue growth and high investment returns.

 

Xinyuan’s compound annual growth rate of approximately 100 percent over the past three years was cited by the magazine as a key factor in Xinyuan’s selection as one of China’s Top Fifty “Golden” Overseas-listed Companies.

 

About Xinyuan Real Estate Co., Ltd.:

 

Xinyuan Real Estate Co., Ltd.  is a fast-growing developer of large scale, quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community life. Xinyuan focuses on China’s Tier II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Ranked #1 among all property developers in Zhengzhou in terms of contracted sales of residential units for the years 2004, 2005 and 2006, Xinyuan has expanded its network to cover a total population of over 34.5 million people in six strategically selected Tier II cities, comprising Hefei, Jinan, Kunshan, Suzhou, Zhengzhou and Chengdu. Xinyuan has completed 14 projects with a total GFA of over 1.0 million square meters within the past 10 years and as of March 31, 2008, Xinyuan had 8 projects under construction with a total GFA of 1.2 million square meters and five additional projects under planning with total GFA of 1.2 million square meters. Xinyuan is the first real estate developer from China to be listed on the New York Stock Exchange. For more information, please visit http://www.xyre.com .

 

 - Xinyuan Real Estate Co., Ltd.

New Real Estate and Online Community Launches Beta Site with Sotheby’s International Realty and Four Seasons Properties

March 14, 2008 (Victoria, BC) – Realestock.com launched today as the first global search comparison engine and online community dedicated to new and dynamic property developments, resale properties, and a variety of investment properties from the world’s most esteemed locations. Featuring a portfolio of more than 1000+ properties in 40+ countries, Realestock.com, along with partners such as Sotheby’s International Real Estate Canada/Blue Print Global and CondoCenter.com, provides important buyers and investors the ability to discover, research, compare and assess worldwide residential and resort properties that best fit their lifestyles and investment goals. Realestock serves with adept precision as an aggregator, online listing community, and luxury auction site, seamlessly connecting property developers and premier real estate marketers to an affluent customer base in key international markets. Created by the founders of CMAEON, the real estate industry’s leading developer of software, business tools and digital solutions to help developers communicate with customers, prospects, suppliers and partners, Realestock.com has partnered with The Four Seasons Private Residences, Dockside Green, globally known as the leading GREEN developer, and more than 1000+ marquis property developers. Tim Vasko, the Founder and Chairman of Realestock.com said: “The launch of Realestock.com will become the most useful resource to connect sophisticated buyers with the right real estate development. As it stands today, confused property buyers have to access multiple and ambiguous sources – both online and offline – to aggregate real estate choices that meet their personal or investment goals. With one confidential profile, Realestock.com will bring the global real estate community connected to one powerful source. “ Potential buyers can easily search and compare properties through detailed criteria models which include property type, location/environment preference, price range, amenities or any other keywords. Realestock tools use proprietary technology to refine the search and provide immediate results. For longer-term search parameters, the user is able to create a customized and confidential online account and Realestock will continue to update user profiles with property selections based on new information and developments introduced to the market. Access to Realestock is complimentary and available worldwide for the international property buyer. Realestock ensures a swifter and wiser investment by connecting all stakeholders in the real estate industry and simplifying the usually complicated process of researching, and ultimately purchasing, a premium property. Realestock consumers will be able to save specific searches, cross reference properties and monitor the progress of new developments. To further personalize and target the search for qualified buyers, Realestock customers can create a “Property Wish List” request. When a desired property becomes available within their chosen search criteria, the customer will then be notified. Featured developers on Realestock are pre-qualified based on reputation and longevity. Property developments are presented online with detailed profile pages that include comprehensive property listings including information on the development, images, virtual tours, community reviews, blogging/interactive community features with developers, and mapping tools. “Realestock.com will be the definitive, most comprehensive database resource for real estate investors seeking premier properties worldwide,” says Ross McCredie, President and CEO of Sotheby’s International Realty Canada. “Today’s buyers are increasingly utilizing state of the art web technology to acquire investment purchases and manage financial portfolios. The difference with Realestock.com is the best-in-class capability that delivers expertise, intelligence and quality.” Leading up to the official launch in Spring, 2008, Realestock will continue to enhance the user experience with exclusive features and customized functionality, including multi-lingual, country-specific visual integration. For example, the unique provenance and architectural elegance of the Hotel Georgia in Vancouver, B.C., is showcased, highlighting new luxury private residences which are part of an exciting expansion development. ABOUT REALESTOCK.COM Realestock.com, a CMAEON company, has helped facilitate over $350 million in sales from around the world for some of the most recognized and prestigious brands on Earth. Esteemed customers such as us the Four Seasons, Sotheby’s International Realty, The Private Residences at Hotel Georgia and Dockside Green - just to name a few - trust us as their premier online marketing, web design and technology partners. Our services have helped these brands and organizations to build their business, get leads, and sell more real estate around the globe.

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CONTACT: Matthew Frappier Edelman 212-819-4802 Matthew.Frappier@edelman.com