Twisting Cayan Tower completed and units selling fast

Twisting Cayan Tower, Dubai

Twisting Cayan Tower completed and units selling fast (PropertyReport.com)

The project dubbed the ‘world’s tallest twisting tower’ in Dubai was recently completed, with some 80 percent of the residential units already sold.

Located on the Dubai Marina, the 75-storey Cayan Tower is twisted 90 degrees from top to bottom, and comprises 570 apartments.

Buyers have a choice of units ranging from studio to four bedroom, as well as duplexes and penthouses. Prices start at Dh2 million (US$544,500). The interiors are made of marble and wood, and each apartment has built in wardrobes. The architects who designed the units have used open space concepts to ensure there are no pillars any where in the building.

Amenities of the development include pool, whirlpool, spa, massage rooms, conference room, nursery, kids play area and gym.

The twisting tower was created Skidmore Owings and Merril, the same team behind the world’s tallest tower Burj Khalifa, as well as the Jin Mao in Shanghai and Trump Tower in Chicago.

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Hot spots abroad for property investors

Hot spots abroad for property investors (AsiaOne)

Analysts can trumpet the benefits of shares, bonds and other investment products till the cows come home but Singaporeans still like to put cash into boring old bricks and mortar.

That’s been the case for decades but the big difference now is that foreign fields are looking more fertile than our own patch.

Surging prices on the one hand and tough cooling measures on the other have prompted many local buyers to eye property overseas.

Buyers are finding themselves spoilt for choice with increasing numbers of property roadshows calling in here from overseas, dangling lower prices and higher rental yields.

But there are plenty of pitfalls out there for the unsuspecting buyer, so there is a lot to know before you throw thousands of dollars into a foreign country.

Financing is one such area. While Singapore banks may provide loans for property in established markets like London, buyers will still be exposed to currency risk.

The sharp fall in the Australian dollar in recent weeks, for example, may well have caught out some borrowers.

We look at some cities in two established property markets – Australia and Britain – and two up-and-coming ones – the Philippines and Thailand – to see why they make good investment choices.

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PH property market seen to be hottest in Asia

PH property market seen to be hottest in Asia (Inquirer.net)

The Philippine office sector is among the most dynamic in Asia and is growing at record levels, according to officials of CBRE Philippines.

The commercial real estate services firm said Metro Manila was leading the country’s office market, with occupancy rates hitting 97 percent across Central Business Districts (CBDs) in the first quarter of 2013.

In the office rent market, Manila is among the areas where rental growth is accelerating, alongside Bangkok, Taipei, Tokyo, according to industry data.

High investor confidence brought vacancy levels to hover at an all-time low of 3.21 percent in Metro Manila from the recorded 3.43 percent in the fourth quarter of 2012 amid economic growth, credit upgrades, cost-effective rental rates, the influx of expanding multinationals and manufacturers, and expatriates moving from renting to buying properties, said CBRE CEO Rick Santos in a briefing on Wednesday.

Combined with the effect of anti-speculation taxes, tighter rules, and sky-high property costs in saturated markets such as China, Hong Kong and Singapore, more property investments are expected to boost Philippine developers, said CBRE vice chairman and global corporate services chief Joey Radovan at the same briefing.
Radovan said that even with the challenge posed by a strong peso, the Philippines remained among the most cost-effective and attractive (with a young and talented labor force) destinations for BPOs and real estate investors in Asia.

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