APRIL 2010 | www.opp.org.uk
CARIBBEAN
Caribbean resort sells out in three days
A Caribbean resort has sold out its fi rst phase within three days of launching, despite a lack of advertising. Austria-based Candelisa Resorts,
in partnership with international agent Cluttons, has received over 300 enquiries for the Weston, St James resort in Barbados and has already sold 34 of its total of 45 units. “The fi rst phase of 21 units was
launched on a Monday morning and sold out by midday Wednesday,” Candelisa’s managing director Guy Taylor told OPP. “We received some pre-registrations following our launch party on the Saturday and there was a small article in the press, but otherwise we sold largely through word of mouth.” The majority of customers so far
have been British buyers in their 50s and 60s. “They’re mostly buying for lifestyle reasons but with investment in mind,” said Taylor. “They are baby boomers looking forward to having
MEXICO
Affl uent Mexicans bolster resort sales
An international resort in Mexico
plans to target affl uent local buyers to bolster sales to US and Canadian citizens. US-based resort fi rm DMB Realty
Network, which works with hundreds of luxury brokers across the southwest US, has partnered with Bald Mountain’s Artesana Rosewood Residences in San Miguel as consultant and master agent, and is recruiting Mexican brokers to sell the properties. “Mexican nationals will probably
Market adaptation
In order to adapt the resort to the current market, DMB has recommended increasing the number of smaller units in the design and set prices to compete with the Mexican resales market. US buyers in states adjoining Mexico,
as well from further afi eld in Canada, will still be key buyers at the resort, Kent added. “Affl uent buyers in the US are still interested in Mexican resorts. They have been aff ected by the recession,
Going, going, gone | Candelisa Resorts received over 300 enquiries for its 45 units
more free time but who want some income as well.”
Renewed confi dence
The fi rst few months of 2010 have seen buyers returning to the overseas property market as agents and developers around the world report increased enquiries and sales. “People made the decision to buy some time ago but were just sitting back for a while,” said Taylor. “Now, people are
constitute close to half of sales in the fi rst phase,” said DMB’s CEO and president, Donald Kent. “The resort is just two hours from Mexico City and is a popular long-weekend destination with affl uent Mexicans.”
feeling a little more confi dent and they don’t want to sit on their hands forever, especially older buyers.” Following the resort’s success,
Candelisa is likely to expand its Caribbean operations further. “This was a pilot to establish ourselves in Barbados,” said Taylor. “We’ve got a couple of other sites coming up, including a 400-acre eco project. We’ll also be building more in the UK and Austria.”
International property design fi rm Yoo has launched an architecture consultancy for developers. Yoo’s London-based architecture
team, which has worked on the company’s projects in Tel Aviv (pictured), Bulgaria and Miami among others, will off er developers masterplanning, landscaping and building design as a standalone service without the need to sign up to the full interior design consultancy. “Our clients have often asked for
our help in designing architectural elements of their projects,” said Yoo’s head of design, Mark Davidson. “We have always been able to off er an integrated design service but we’ve just never channelled architecture into a comprehensive package… We’ve never maximised the potential of a true architecture service and the timing just felt right for us.” Yoo architecture will launch its
Cultural centre | The resort hopes to cash in on San Miguel’s cultural appeal
shifted their priorities and downsized their requirements but they aren’t about to stand on the sides and miss out on owning a property.”
fl agship development in Istanbul in September this year. Situated in artistic district Ortaköy, yoo Istanbul will comprise 137 apartments with ‘yoo inspired by Starck’ interiors, as well as a spa, swimming pools, a design garden and a residence club.
stephen.h@opp.org.uk | 15
Yoo launches developer design service
DUBAI WORLD GETS $9.5BN
The Dubai government has committed $9.5 billion
to helping its troubled holding company Dubai World, according to AFP. The debt-laden fi rm, which owns developer Nahkeel, has proposed loan- restructuring that will allow it to pay off its creditors over eight years. The company said the total debt that will be negotiated amounts to $14.2 billion.
MANCHESTER’S £1BN DEAL
UK football club Manchester City has signed a £1
billion agreement with the city council to redevelop the land around its stadium. The club, owned by UAE deputy prime minister Sheikh Mansour, hopes to transform the area, one of the poorest in the city, into a world class sports and leisure complex including a fi ve-star hotel.
EDENARC SKI LAUNCH
Ski property agent Erna Low has launched a new
leaseback development at the French resort of Arc 1800. Built by developer, Sotarbat 360, Edenarc 1800 will consist of 252 apartments across two residences, with a third building holding a hotel with 40 two- bedroom apartments, as well as an indoor swimming pool complex.
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