Government to boost Chinese property market

Facing a housing market lull which could drag China’s economy further in the backdrop of a worldwide financial crisis, Beijing is probing possibilities to loosen its macro control to activate the real estate sector.

As many as 18 Chinese cities, including Shanghai,Guangzhou,Hangzhou and Xi’an, have announced detailed policies to boost their property market, which have seen at least four months of consecutive drops in housing prices.

SOURCE: Chinadaily.com – Government to boost Chinese property market.

First Shopping Center by World-Renowned Architect Daniel Libeskind Opens

Westside Shopping and LeisureCentre, an exciting new development designed by famed architect Daniel Libeskind, opened its doors to the public on Wednesday, October 8. What many
years ago seemed a visionary, perhaps even utopian, concept for a new city district of Bern has finally become a reality. In addition to the 55 shops,10 restaurants and bars, hotel, multiplex cinema, fun bath with wellness and fitness center and senior residency, this mixed-use program radically reinvents the concept of shopping, entertainment and living. With its impressive location above the A1 highway, its direct connection to the tram
and the BERNMOBIL transport network, Westside is a meeting place for the whole greater region of Bern and provides a striking gateway to the city.

SOURCE: Studio Daniel Libeskind – Westside: First Shopping Center by World-Renowned Architect Daniel Libeskind Opens
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Companies moving inland from coastal region

China Daily gives an insight into the companies moving inland from the Shanghai and surrounding coastal cities – higher land, construction and labour costs.

“A changing industrial landscape is unfolding in China’s most prosperous coastal region…….

read more @ the SOURCE: China Daily Companies moving inland from coastal region
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Top 50 most expensive office spaces in the world – CBRE

According to CB Richard Ellis Group, Inc. (CBRE) Research’s semi-annual Global Market Rents survey cities came in the Top 10 most expensive cities in the world. 

London’s West End is once again the world’s most expensive office market, while rapidly-rising Moscow climbed to second place, according to CB Richard Ellis Group, Inc. (CBRE) Research’s semi-annual Global Market Rents survey. The report tracks world markets with the highest as well as fastest-growing occupancy costs for the 12 months ended March 31, 2008. Tokyo’s Inner Central Five Wards, Mumbai’s Nariman Point and Tokyo’s Outer Central Five Wards rounded out the top five most expensive markets.

“Office occupancy costs are continuing to defy sluggish economic conditions and the credit crunch, as they rise faster than global inflation,” said Dr. Raymond Torto, CBRE’s Global Chief Economist. “These cost increases are dominated by emerging markets, caused by both supply and demand imbalance and the depreciation of the dollar relative to local currencies. In some of these emerging markets, Class A office space is seriously lacking.”

Ho Chi Minh City had the fastest-growing occupancy costs during this period, up 94%. Moscow was not far behind at 93%, followed by Singapore at 86%. Overall, EMEA (Europe, Middle East and Africa) dominated the list of markets with the fastest growing occupancy costs, accounting for five of the top 10 and 19 of the top 50 markets. Worldwide, 88% of the 173 office markets monitored posted higher occupancy costs.

Among the most expensive markets, Singapore and Dubai were newcomers to the top 10. Singapore ranked ninth with an occupancy cost of $139.31 (occupancy cost in US$/sq. ft./annum used throughout this release), while Dubai debuted at number 10 with an occupancy cost of $128.49. With a near-doubling of occupancy costs, Moscow rose four places to second at $232.37. Midtown Manhattan was still the priciest market in North America, at $103.43, and ranked number 13 worldwide.

The Top 10 most expensive cities are
1. London (West End), England
2. Moscow, Russia
3. Tokyo (Inner Central), Japan
4. Mumbai, India
5. Tokyo (Outer Central), Japan
6. London (City), England
7. New Delhi, India
8. Paris, France
9. Singapore
10. Dubai, United Arab Emirate

read more @ the SOURCE: CB Richard Ellis – CBRE Research

Ecotourism in Yunnan (5 Part Series)

Ecotourism is becoming more popular in China and Lila Buckley of the Globalist took a hands on approach to reasearching Eco-tourism for herself.
An interesting read about the growing trend of Eco-tourism in China.

read more at The Globalist

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