December 29, 2007
Ground-Breaking Development Offers Unprecedented Avant-Garde Lifestyle in Latin America; Surpasses All Sales Goals
(August 2007), PUNTA PACIFICA, PANAMA – The illustrious Trump Ocean Club International Hotel and Tower in Panama City marks Donald Trump’s first foray into Latin America, real estate. Today, the commanding building is one of the first in the area to begin construction! Entering the market in full “Trump style”, this exclusive luxury community offers first-class amenities, revolutionary architecture, and lavishly designed residences and suites.
Trump Ocean Club, surely to be recognized as an architectural masterpiece, is located on Punta Pacifica, Panama City. The $400 million dollar project is the largest real estate investment in Latin America with 2.8 million total sq ft. and 68 stories. For the first time in Panama, residents and visitors alike will benefit from a luxurious lifestyle that combines the elegance, comfort and indulgences found in the most exclusive six star hotels. The state of the art building offers the latest and the finest in technology and architecture and has been carefully crafted and designed by Arias Serna Saravia, one of the most prestigious Architectural, Design and Engineering firms in Latin America.
The Trump Ocean Club community is being created as a deliberate “haven”; a place one can settle into and never leave. The master plan includes: condominiums and condo-hotel units, a magnificent wellness spa, an oversized infinity pool & deck, Yacht Club & Pier, a private beach club on Contadora Island, upscale boutiques and shops, exclusive office lofts, an elite hotel sky lobby, a state-of-the-art business center, concierge service, valet parking, and bellmen. The hotel also provides the comfort and convenience of on onsite barber shop, beauty salon, drug store, flower shop, jewelry store, a plethora of gourmet dining experiences, valet, chauffeur and limo service, spa services at residences, and 24 hour medical service. Those who like to get away from home, but refuse to slow down can also take pleasure in the electrifying on-site 45,000 square foot Trump International Casino.
Completing the “package of perfection” offered at Trump Ocean Club, each and every residence has been carefully engineered to offer unobstructed views of the Pacific Ocean from private terraces. The 1, 2, 3 bedroom units and penthouse suites are designed with premium European cabinetry and elegantly detailed designer fixtures, imported granite countertops, modern stainless steel appliances, imported marble flooring, and contemporary frameless showers.
In addition to an abundance of ultra exclusive amenities is Trump Ocean Club’s convenient and central location; just ten minutes from International Banking center, fifteen minutes from International Tocumen Airport, three minutes from world class shopping and nightlife, and two minutes from the new Punta Pacifica Hospital affiliated with John Hopkins Medicine International. The property is also just a short two and a half hour flight from Miami and five and half from New York City.
Donald Trump discovered Panama during his celebrated Miss Universe Pageant. He was so affected by the beauty of the country; he remembered it years later when looking into new projects. When a Panama City possibility arose, Trump jumped at the opportunity stating,
“I am excited to bring the prestige of the Trump Organization to this exceptional destination project. We expect Trump Ocean Club, Panama, to reach the success and renowned status of my other luxury projects, including the Palm Trump International Hotel and Tower in Dubai, Trump International Hotel & Tower, Chicago and Trump Tower, among others.”
Panama is experiencing a boom never before seen in Latin America. Reasons for this growth are numerous. Topping the list is Panama’s easy financing and use of the U.S. dollar, making it one of the top destinations to retire or invest. Additionally, the Panamanian government is 100% behind the country’s growth, as they are exonerating property taxes on residential investments, resulting in hundreds of thousands of dollars in savings to future property owners. Undoubtedly the country’s decision to spend $5.2 billion on increasing the width of the Panama Canal, the country’s biggest source of revenue, is a sure sign of Panama’s growth and prosperity.
Due to the excitement, beauty, and tax benefits, Panama has recently been ranked the #1 place to retire by Modern Maturity magazine, a publication of the AARP.
While Panama’s development numbers are widely known, Trump Ocean Club is proud to be the first of its size to actually begin construction; interested buyers can rest assured – this project is moving full steam ahead! The opportunity to live in a beautiful waterfront property in an exciting and growing city at a superior lifestyle, all at prices unseen anywhere else in the world has not gone unnoticed. While Trump Ocean Club is in close proximity to the history of Panama such as the Panama Canal and Casco Viejo, the project is quite obviously defining the future of this exceptional city, country, and region!
For more information please visit www.trumpoceanclub.com and for sales inquiries please contact 1-877-89-TRUMP (87867) or firstname.lastname@example.org.
If you haven’t heard, the Dubai Real Estate market is rapidly emerging as one of the premier markets to own property in. Recently, several real estate gurus have made comparisons of the Dubai real estate market to that of Las Vegas before the mega casinos and hotel/resorts and Florida before the take over of Walt Disney.
With just over 30% of the worlds cranes currently siting in Dubai for high rise construction, the condo market of Dubai offers a wide varitey of amenities at affordable price points. From the white sandy beaches to the amazing night life, owning a piece of paradise might be easier than you think…
Compared to property prices of the United Kingdom or United States, a buyer of real estate in Dubai can typically expect to pay about 1/3 less than the UK or US. Another attractive feature of owning in Dubai is the fact that there are no income or property taxes. With demand high and supply low, the market continues to thrive and is expected to bring owners of Dubai property handsome returns in the coming years. Last year, rental rates climbed anywhere from 10% – 50% depending on where the property was located.
At this time condo hotels in Dubai are only being sold as 99 year leaseholds which offer automatic renewal after expiration for a small fee. There is a mounting school of thought that long leases rather than freehold ownership should emerge as the preferred method of purchasing condo hotels. Leasehold is common in many countries for high-rise property. Leasehold grants the duties and obligations of the landlord or freeholder to maintain the whole property in pristine condition. However, in a few months the laws in Dubai are expected to change to allow freehold ownership, and leasehold properties can be converted to freehold. Condo hotels will still be maintained within the standards set by the developer.
Today, turning existing apartment buildings into condo conversions has become widely popular. Many developers and buyers are choosing this alternative to new construction because it provides many different benefits. Renovating a building is usually much cheaper than completely reconstructing it, and therefore, this allows for the consumer to buy the newly converted condo at a cheaper price. Also, the developer has more flexibility on how much or how little renovating is completed and therefore can choose to focus solely on the areas that he/she finds are the most important.
Anther great aspect of converting apartment buildings into condo conversions is LOCATION LOCATION LOCATION!! Many apartment buildings are located in great areas of town. When building new construction, these great properties might not be available. Also, some of the buildings that are being remodeled have a classic design that would be completely lost if they were torn down.
Although purchasing a condo conversion may have a lot of benefits, there are also a few downsides to consider. Sometimes when older buildings are converted the developer is unable to provide the building with a large amount of amenities. In addition, sound proofing may also be a problem for the new buyer. Because a lot of the apartments being remodeled are older, many of the developers who built them neglected to use soundproofing in the walls, ceilings and floors. If your new condo conversion has carpet, however, that will help the problem out a lot.
Even though there are a few negative sides to choosing a condo conversion over new construction, I feel that the benefits outweigh the costs, and that overall, they are an excellent solution to many of the costs, time and labor of new construction.
Thompson, R (2007, August, 1). Condo Conversion Caveats. Realty Times, Retrieved August 1, 2007, from https://realtytimes.com/rtcpages/20070801_condoconvert.htm
Well, while the two founders of New Condos Online are off to the City that never sleeps for a massive PR tour, I am off to the Real Estate Connect conference in San Francisco. There will be many technology companies in the Real Estate field attending the show and I’m stoked to meet some people and generate some relationships. I’m also going to be touring many of the San Francisco condos that we advertise on our site. There is so much development going on in San Francisco – so I’m excited to see all of the new construction going up in one of the best cities in the country.
While the nat’l housing market is expected to tumble well into 2008, the Downtown LA market is faring considerably better, according to a 2nd quarter update by CB Richard Ellis. The study found the average Los Angeles condo sale price was $635,005 (an increase of 1.8% over the prior quarter) By comparison, the average price for a home in L.A. County during the same period was $535,000, (down 1.8% from the previous quarter)
Construction of new condos averaged just over 80 units per month during the 2nd quarter, a nearly 100% increase from the previous quarter. Still, there are only 199 new units available for sale. The report found that there was a total of 108 units of both resale and new construction sold per month, up from only 57 transactions per month in the prior quarter. “Increasing demand for condominium housing in Downtown LA is beginning to positively affect average prices paid per square foot,” said the report. “Downtown L.A.’s recorded condominium sales increased nearly 3% in the most recent quarter.”
The rental market is also producing at record levels, with occupancy up to 92.9% in Downtown. Another 1,000 units are expected to open in the next six months, with rental rate increases continuing well ahead of inflation.
Source: LA Downtown News
Well, we are off to New York tomorrow for the New Condos Online media tour. NCO has hired a new major PR firm that will be making efforts to build our global brand, increase traffic and exposure, and catch the eye of other potential partnering companies. The New York condo market has been hot for NCO. We have major partnerships such as Sherman Advertising, The Marketing Directors, and Americas Media Group that have brought representation from many new developments in the area.
NCO has a profile in the August issue of The MANN Report, a New York business journal. We also have interviews lined up with the New York Times, Business Week, CNBC, and so on. This strategy will only further solidify NCO’s top placement in the industry and position us well against competitors. That is really the least of our concerns as our main focus is to continue to provide a valuable product to our clients and a great resource for our users. Gaining more exposure for NCO will help our condo developers further expand their reach to potential buyers and gain visibility to foreign investors which is so important right now.
There will be plenty more to come, so we will keep you posted!
Palmetto Cove is our newest addition to the NCO Ft. Meyers Condos page, and it is ideally located near white sand beaches, golf courses, public marinas and a variety of upscale shopping, dining and entertainment options. Simply said, Palmetto Cove is close to everything that matters. Palmetto Cove is just five miles from Fort Myers Beach/Estero Island and Sanibel/Captiva Islands. For golfers, some of the area’s best public and private courses are located just minutes away. Whether you enjoy fishing, snorkeling, skiing or simply cruising, the Caloosahatchee River and Gulf of Mexico offer cool blue waters that are easily accessible from a number of marinas and public boat ramps, minutes away from Palmetto Cove. This gated two story condo development features two distinctive floorplans with 1,317 to 1,671 square feet. Units start as low as $200,000, and include high quality fine finishes such as 10-foot ceilings, granite countertops, raised wood cabinetry, 8-foot doors and tray ceilings add tremendous value to each of these impressive residences. Detached garages and private lanais that are designed to accommodate summer kitchens are unique luxuries you’ll find highly desirable for the ultimate Florida lifestyle.
Under the most beautiful blue sky and bright sun, the banner for the latest preconstruction project in Downtown Miami was installed.The corner of Second Avenue and Second Street SE is the home for the next successful project developed by the acclaimed South Florida Developer, Related Group.
Soaring 36 stories, this contemporary condominium will contribute to the new Miami Skyline and enhance the city lifestyle incorporating in its design a street level retail element.Residents will also enjoyfull amenities such as State-of-the-Art Fitness center, elegant-great room with a large private exterior terrace, Landscaped sun terrace with covered resistance pool and an open-air swimming pool.
The building will be delivered approximately early 2011 and the project has started taking Letters of Interest TODAY.Take advantage of this pre-sales opportunity by visiting www.TheLoftDowntown4.com learn all about the project, download your Letter of Interestand send it as soon as possible.
An article which I read online today said that over 100 people camped out overnight for the sales office to open so that they could purchase a condo. And no, this article was not written 6 years ago. This is happening now. At 6:00 pm Toronto time tonight. What should this tell us? Well, for one, the condo market is not dead. Yes, there are some declining markets in North America and we all know the media loves to report the glum news about, well, anything – the condo market being no different. But this should be seen as, for all you naysayers out there, hope!
The first phase of this project sold out in ONE DAY! So, people didn’t want to miss out on Phase 2 which should be completed sometime in 2010. There are still pockets/areas where condos are great investments – Toronto being one of them!
I read an article yesterday that piqued my interest. In a small town in the Northwest, residents of the quaint town were worried that the new condo development going up would be considered an eyesore. That raises some interesting questions about condo development. Condos will continue to be in high demand due to the extreme population growth. However, will city planners reject a developer who wishes to build a condo in a smaller suburb? Residents will contest that the new type of housing will ruin the fabric of their city or town. But, condos will continue to be built. There is no question about that. The question or problem that developers may face is the issue of tact. Tact can and will be argued throughout life…just like many other beliefs. Perhaps city planners should listen to their residents when a proposed condo project is underway. What do you think? Are condos becoming eyesoars in certain parts of the country?