Life in the fast lane – An inside look at the Michael Schumacher World Champion Tower

otorsport legend Michael Schumacher has teamed up with the Laboratory for Visionary Architecture to create the first of seven concept towers to be built worldwide in what has been described as the ‘next step in branded architecture’…

Michael Schumacher is not your typical retiree – no pipe and slippers for this man, oh, and did I mention he’s only 39?

When he retired from Formula One in 2006, he found another interest. No, not golf. Property. He and the Laboratory for Visionary Architecture (LAVA) have partnered to create the architecturally astounding Michael Schumacher World Champion Tower.

The Michael Schumacher World Champion Tower (MSWCT) will be located in the Central Business District of Reem Island in Abu Dhabi, United Arab Emirates.

The wharf tower will emerge from the sea and comprise a private luxury marina.

The first of seven tours to be built worldwide, the new tower will take Abu Dhabi property ‘to new heights.’

Why seven? No, not so Michael can live in a different tower each day of the week, but rather to represent each of the seven Formula One World Championship titles that he won during his formidable career.

The 59-storey tower’s design features fluid lines ‘reflecting the aerodynamics that are crucial to motor racing,’ inspired by the ‘geometrics of nature.’

Drawing inspiration from the shapes of snowflakes, the tower features a wide, terraced base for wharf apartments that ‘gradually tapers off vertically to the Sky Villas at the very top which boast breathtaking panoramic views of the bustling cultural district on Abu Dhabi’s Saadyiat Island.’

Special reflective fins shield the building’s private balconies from the sun by tracking its movement to provide dynamic solar shading and give the building a constantly evolving appearance.

Every feature has ‘been designed to reflect the standards that made Michael Schumacher’s racing career so successful.’

Construction on the tower is set to begin at the start of 2009, with an expected completion date around mid 2011.

For more information on properties in Abu Dhabi and the market in general, please visit http://uae.themovechannel.com/

New legislation in Dubai to curb market

Real estate professionals in the UAE, particularly in Dubai, have long hailed the legislative procedures adopted by the governments to regulate the real estate sector and impose tools that safeguard the interests of developers and investors alike.

The issuance of the Mortgage Law in Dubai and Law No. 13 of 2008, which regulates initial property registration in Dubai, and imposing a requirement for the registration of all off-plan sales contracts with the relevant government departments, the Dubai Land Department and the Real Estate Regulatory Authority (RERA), are all significant steps toward curbing speculation in the market. However, all of these laws have been received with conflicting opinions and responses.

While the government sees these legal systems as necessary interventions to regulate the market and curb the rife speculation and unrealistic price hikes on off-plan property units, some real estate professionals refer to the contradictory nature of these laws to Dubai’s free market principles, which have long been key to maintaining the emirate’s competitive edge as a leading international investment destination.

Al Mazaya Holding, the region’s leading real estate developer, says that any new property law that aims to regulate relations between developer and investor, or corporation and individual, is welcome, as it benefits all parties concerned. However, the developer feels that the new law needs to be further clarified.

Al Mazaya has expressed concerns regarding the initial structure of the new laws published in the media, as these laws contradict the free market principles that have been adopted in Dubai and which make the emirate an attractive investment destination.

Eng. Salwa Malhas, Executive Vice President at Al Mazaya Holding, said, “New laws are being issued in Dubai’s real estate market from time to time, in order to regulate the market. Most of the time, these laws receive some criticism and disapproval from real estate professionals but, once adopted and implemented, their significance becomes apparent to the market. These new laws are issued in order to safeguard the activities and stability of our real estate sector and to eliminate harmful practices. The latest laws, once implemented, will shock the real estate market, since most sales contracts are being signed on off-plan property units. The new laws pose a serious threat to property sales activity in the emirate.”

“Our final judgment on the proposed laws will be revealed after the issuance of the law, as we will then be able to recognize both the positive and the negative aspects of it. We recognize the need for a mandatory system to streamline off-plan sales contracts for real estate units and to limit the current level of market speculation, which significantly increases the property prices within short periods of time, resulting in excessively high property prices,” she added.

In conclusion, Malhas said, “This law is quite appropriate, as it is accompanied by organizational laws to protect the developer and guarantee his continued survival in the market. The new law fixes the real prices of the off-plan real estate units. But it is important to look into developing tools to streamline this law so as to protect the developer and to allow him to continue operating in a free market. The authorities might impose taxes on the resale of properties purchased within a 12-month period, or introduce higher deposits as a measure for curbing short term speculation.”

Buying Property in Mexico – Have You Met Manzanillo?

Americans have been buying real estate in Mexico for decades, but the trend has increased considerably in recent years.

What’s the primary reason for this? Well, as is usually the case with real estate, it comes down to two things — cost and location.

The cost factor is obvious. You can buy property in Mexico for much less than it would cost in the United States. As for the location factor, Mexico is home to some of the most pristine beaches and tropical locales of anywhere in the world. Put these two factors together, and you have an attractive package for real estate investors, retirees and transplants from north of the border.

But Where in Mexico?
When most people think of buying real estate in Mexico, places like Puerto Vallarta and Baja often come to mind. But there are lesser-known areas with just as much appeal. One such area is the city of Manzanillo in the state of Colima, Mexico.

The City of Manzanillo
Located just three hours southwest of Guadalajara, Manzanillo lies in the center of what has been historically called “The Gold Coast” of Mexico. This centrally located coastal area has long attracted visitors with its temperate climate and mountainous seaside settings.

The State of Colima, Mexico
Colima is a small state, sharing a border with the Mexican states of Jalisco to the north and east, and Michoacan to the south. To the west, Colima borders the Pacific Ocean. In addition to the capital city of Colima, the state’s main cities include Manzanillo and Tecoman. The state has an area of 5,455 square km, with an estimated population in 2004 of about 571,000 people.

The Attractions of Manzanillo
Manzanillo is the self-proclaimed “sailfish capital” of the world, and it hosts an annual international fishing tournament. A vibrant city of culture and charm, Manzanillo has escaped the “western” commercialization found in other cities in the region. Visitors to Manzanillo have described it as an “old seaside village where the sunsets last forever.”

Learn More

Want to learn more about buying property in Manzanillo, Mexico? Schedule a tour of Cascadas de Manzanillo, a luxury resort community in Manzanillo that overlooks the Pacific Ocean. Visit their website for tour information, photos and more. Online at: http://www.vivacascadas.com

Reasons to invest in Mumbai Property Market

To own a beautiful house in first-rate area of any city is everyone’s dream in India today. But not every dream comes true. And this dream becomes all the more difficult to come true if you would like to own a house in big cities like Mumbai, Delhi, Kolkata, Chennai, and Bangalore. In big cities and above all in Mumbai, it takes a gigantic task to come across to an appropriate house within your means. But this tricky task can be made trouble-free if you can engage the services of a competent property consultant who knows each and every thing about Mumbai Real Estate market.

Mumbai property market is the largest real estate market in India. With a population of around 19 millions people, Mumbai and its suburbs encompass one of the biggest urban agglomerations in the world that is only second to Tokyo. The population of Mumbai is increasing at a massive rate. Unfortunately, the rate of developing new residential and commercial property in Mumbai has always been lower than the rate increase in population. As a result, you come across families in Mumbai who are forced to live in small rooms. According to the national census of India of 2001, every other person in Mumbai is living in slum. All these facts point to the amount of intricacy you can face while locating a suitable property in Mumbai either to buy or rent-in.

To stay away from this difficulty, my advice for you would be to take into service a competent real estate consultant in Mumbai. There are many fine real estate agencies in Mumbai like Better Homes India who can do that for you at less commission. These agencies have years of practical experience of working in Mumbai real estate market to come good for you. They can help you under different circumstances. They can buy a commercial or residential property in Mumbai for you as well as they can be a great helping hand if you want to sell property in Mumbai. They can even help you in case you are looking for long or short term rental in Mumbai.

Since population graph of Mumbai shows an upward trend, it means that property prices in Mumbai would be higher when compared to any other Indian city. Lack of space for new property development from Juhu Beach to South Mumbai, has made the property prices in this area to shoot skywards. Of-late there has been a new craze of redevelopment of property in posh Mumbai areas like Bandra. But the property prices in areas like, Juhu, Bandra are to some extent unaffordable to middle class. With the intention to win this segment of the society, the market of real estate in Mumbai is developing various projects in the suburbs of the city. Navi, a suburb of Mumbai, is their main target in order to provide affordable commercial and residential property in Mumbai. Navi is known as twin city of Mumbai with a population of 0.75 million. The future of real estate in Navi Mumbai is very bright and property prices here are already started to move upward quickly. And to me it is the best moment in time to buy property in Navi Mumbai.

As a Mumbai real estate consultant my advice to you would be to buy property in Mumbai suburbs in place of main old Mumbai. These suburbs like Navi Mumbai are being developed to sound and modern plan and have every facility of life. The property prices here are another plus to go with these areas. The choice is yours but there is one thing certain. The property value in Mumbai is going to increase with course of time and an astute investment in Mumbai real estate market can earn you massive profit in future.

About The Author:
Daniel Marshell is senior real estate consultant associated with http://www.bhomes.com/india/ Better Homes India, a leading real estate firm in Mumbai, India. He has more than 25 years of first hand experience of working in Mumbai Real Estate Market. His firm Better Homes India also offers online real estate services in Mumbai. For more information please visit www.bhomes.com/india