ISSUE ONE 2009

____China Capital Flows

____London Lights
____Defining Super Prime
____Boom – Dens & Dachas
ISSUE ONE 2009

____World’s 50 Best Restaurants

____Resorts – The New Black?
____Navigating the Credit Crunch
____Exquisite Properties
Although every effort has been made to ensure that the
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Please note that, in particular, all descriptions, dimensions,

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 01

THE TEAM
EDITOR
Sarah Anderson

EDITORIAL TEAM
Julian Jakobi
Jonathan Seal
DESIGN AND ART DIRECTION
Smith & Milton
PHOTOGRAPHY
Attributed to…
Charles Gullung
Oli Tennent
Chad Baker
Dan Tobin Smith
Pieter Leistner
Ted VanCleave
Nadav Kander
Michael Weber
PRINTED BY
A&R Associates
WEBSITE
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WELCO
_
IN TO
A WELL
PRIMED

IN_MAGAZINE
 03

OME
Welcome to
...your new window
into the very best the
world has to offer.
The global credit crunch has come
at the end of an unprecedented
period of world economic growth.
The swiftness and depth of the
crisis though has caught many
by surprise and is forcing many
more to reassess their financial
portfolio and commitments. With this enforced
correction comes potentially great opportunities,
not least in the property markets around the world.
Yet to be able to capitalise on these prospects
and the inevitable choices offered requires a
knowledgeable guide with a finger on the pulse.
I hope we have created such a guide, one that is well
formed about investment and residential property,
and the-know about things generally. Above all
we aim to provide you with privileged access to
information from authorities who are not only leaders in
their fields, but are also, we trust, fascinating, appealing
and insightful. We hope you enjoy the first issue of
and we look forward to accompanying you on your
investment journey.

WORLD Sarah Anderson

EDITOR

EDITORIAL ADVISORY TEAM

Julian Jakobi
Julian Jakobi has spent over
30 years in the sports marketing
business successfully managing
the careers of many iconic figures,
such as Bjorn Borg, Nick Faldo,
and Formula 1 world champions
Ayrton Senna, Jacques Villeneuve
and Alain Prost amongst others. Julian’s role is to
manage and guide the careers of these highly talented
individuals, developing their careers and offering
advise on every aspect of a professional sports career,
from contractual negotiations to PR management and
specialist financial planning.

Jonathan Seal
Jonathan runs CBRE’s Global
Residential Business and he is
responsible for heading up a
global network that provides
comprehensive services across
every step of the development process. Formally
MD of Hamptons Residential Development and
International, he has over 25 years experience working
in residential property across Central London, Europe
and the Far East and is now widely recognised as
one of the UK Property Industry’s leading figures.
IN_side

06
IN_vestment
CHINA CAPITAL FLOWS
As the Chinese economy emerges from the global
upheaval will the wealthy invest in property?

12
IN_ focus
LONDON LIGHTS
As sterling softens new opportunities will arise.

16
IN_the know
DEFINING SUPER PRIME
Nick Jopling explains: what makes
a property super prime?

23
SUPER PRIME
IN_dex
The 12 best properties in the world.

IN_MAGAZINE
 05

36
IN_sight
BOOM – DENS & DACHAS
From Boom to Bust and back to Boom?
Where next for the Russian property market?

40
IN_the know
50 BEST PLACES ON
EARTH TO EAT

42
IN_vogue
RESORTS: THE NEW BLACK?
Gabi Woolgar explores the allure of resorts even
in the teeth of a world recession.

46
IN_ finance
NAVIGATING THE
CREDIT CRUNCH

48
EXQUISITE PROPERTIES
Jonathan Seal introduces a selection of properties from
around the world being handled by CB Richard Ellis.

Around the world in 64 pages

IN_vestment

IN_MAGAZINE
BY RICHARD WARREN 07

When a Chinese entrepreneur bought a

French vineyard early in 2008 it made
headlines around the world. Did it mean
those much-hyped, big-spending, Chinese
property investors had finally arrived?
Well, not exactly. The global economic slow down
has seen to that. China’s spectacular growth in recent
years, driven by seemingly insatiable consumers
in the western markets, is now slowing dramatically.
Much will depend upon the effectiveness of the
vast $568bn fiscal stimulus package the Chinese
government is proposing to guarantee a soft landing
for its economy and no doubt drive political ambition.

Until recently Beijing was signalling a relaxation

of capital controls on its private citizens when it
lifted its ban on Chinese businesses purchasing
property overseas in 2007. While they wait, some
mainland businessmen use companies to quietly
funnel their money overseas, some of it into tax
havens, hidden away from China’s mandarins. Other
Chinese invest in overseas property via REITs. It will
be interesting to see if the Chinese government
continues with its intent to completely lift the ban or
maintain it to encourage more inward investment.
What ever happens it is clear the Chinese investor
will not be able to resist potential property bargains.

The measures the government are taking to stimulate

the economy should ensure that the potential
purchasing power of Chinese investors remains high
and will grow, but at a much lower rate. China has
373,000 HNWIs and their numbers were expanding
14 per cent a year, faster than anywhere else in the
world. However, when or perhaps if capital controls
are lifted, investment overseas will surge as pent-
up demand is released. With weakening foreign
exchange rates and softening prices in some of the
super prime locations around the globe, now may
be a good time for well-advised Chinese investors
to obtain a high return on their property investments.
 Property will feature highly in a Chinese HNWI’s
“Hundreds of portfolio. Modern China like Hong Kong, Russia and
Britain is property-mad. Twenty years ago nobody
thousands of living in a Chinese city owned their own home. Now
Chinese students 80 per cent of urban households are owner-occupied.
Between 30-50 per cent of a typical Chinese
attend foreign HNWI’s portfolio will be bricks and mortar, estimates
Catherine Tillotson, head of research at wealth
universities and management company, Scorpio Partnership.
many of their “Property is one of the first things they want to hold”
she says, “because it is tangible and has fixed value,
parents would making it stable and secure.”
love to buy them Hong Kong’s wealthy have invested in property
outside Hong Kong for many years, especially in
a home in the neighbouring Guangdong province. Singapore and
Thailand are favoured, but Britain attracts most of
country where their investment outside of Greater China, because
of historical links and its open, stable economy.
they study. With Other Anglo-Saxon countries are popular for similar
reasons. Hong Kong investors are used to buying
50,000 Chinese off-plan at home, and have few qualms about doing
students Britain so overseas.
STUDENTS ABROAD
has the biggest Foreign developers who spent the past 15 years
targeting Hong Kong buyers will undoubtedly want
potential market.” to lure Chinese investors when Beijing allows them
IN_MAGAZINE
to venture abroad. They will enjoy some success,
partly thanks to foreign education establishments.
Hundreds of thousands of Chinese students attend
foreign universities and many of their parents would
love to buy them a home in the country where they
study. With 50,000 Chinese students Britain has the
biggest potential market. Parents of the 9,000 Hong
Kong students who come to Britain each year are
already big customers of British developers. Parents of
children at Britain’s public schools are another market.
The scenario is similar in Australia, Canada and New
Zealand, but the United States is making life tough.
It has 42,000 mainlanders studying there, but parents
who want to come over on home buying visits don’t
always get a visa.
THE CHINESE WEB
When more Chinese parents get to splurge their
children’s accommodation budgets, many will buy
in towns with universities specialising in sciences,
the favourite subject of Chinese students. Britain,
US, Switzerland and the eurozone will feature on
investors’ shopping lists. Many Chinese HNWIs’
have got rich from trade, so they understand doing
business overseas and with softening prices and
weakening exchange rates, the opportunities may
be hard to ignore.
 High returns, ease of travel and cultural affinity mean
the bulk of mainland investment will be within east
Asia, especially Greater China, although Taiwan’s
restrictions on Chinese investors must end first.
Most money will stay on the mainland. Naively, many
Chinese investors have considered the domestic
property market “risk-free” following years of rapid
price rises. Wealth management companies are
keen to “educate” Chinese HNWIs about the merits
of other asset classes. With the recent 40 per cent
fall in Shenzhen’s residential property values and
the flattening of growth across the rest of China,
some may question where they invest and begin to
look further afield.
“Property is one of the first things
they want to hold because it is
tangible and has fixed value,
making it stable and secure.”
WHAT DOES THE FUTURE HOLD?
Once the world’s markets and economies exhibit
some stability we can expect Hong Kong HNWIs to
ramp up their property investments, as they hunt
out possible high returns. 25 per cent of the Hong
Kong’s residents have assets in excess of USD1
million – the world’s highest per head of population
and this will rise. Although not to the levels forecast in
recent years.
As stability returns, so super-wealthy mainlanders
and Hong Kong buyers will want trophy homes –
Scottish castles, French chateaux, Kensington villas,
New York penthouses, exotic private islands and
more to gain maximum face. Holiday homes will be
in vogue and even if hubby won’t stop deal making,
the tai tai and children will want a break. Chinese
09
businessmen love golf, so resort communities with
18-hole championship courses will be popular.
Good design-orientated developers will attract
Chinese customers when they hear that good
layout and rich furnishing can add 60 per cent to
a home’s value, not to mention the benefits of a
favourable exchange rate.
Hong Kong and Chinese investors may hit the
headlines again soon because French viniculture
consultant, Joel Palous, has six Hong Kong and
mainland clients looking for vineyards in his home
country. Clearly, new found affluence has created
a taste for fine wine and the properties where it is
made. This is the tip of the iceberg.
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IN_focus

IN_MAGAZINE
BY JESSIE HEWITSON 13

$ Rules in London
London’s status as
one of the world’s
principle financial
centres means the
credit crunch has
had a quick and
dramatic impact.
 “A home in London is now 60% less in
dollar terms than at this time last year.”

location of significant charm, which is already enjoying an

The unprecedented interventions by the Bank of England and other central banks
around the world appear to have stabilised some of the turbulence in the financial
sector, however, the fallout into the real economy continues. The depth and
duration of the downturn depends upon the successes of the government’s
coordinated economic stimulus packages.
Historically prime central London property markets have been sensitive to the
fortunes of the financial services sector. The forecast for prime central London is a
fall in value from its peak in 2007 to a trough at the end of 2009 of 25% to 30%
(CB Richard Ellis, Savills, Knight Frank). This severe market correction will offer
opportunities for new investors taking advantage of the low sterling exchange
rates and the availability of property in some of the best addresses in the best
location in the world. A home in London is now 60% less in dollar terms than this
time last year.
HOTSPOTS
It is important to note that this correction relates to ‘second hand properties’ and not
new-build developments. New-build stock is believed to be more robust because
of the extremely limited supply in prime central London. Even though the prime
central London market has inevitably been impacted by the current global financial
crisis, there is a chronic lack of supply, which has been further constrained by the
current market conditions. This will lead to a faster recovery for the prime central
London market and robustness in value for new-build
prime central London stock.
increasing number of superb refurbishments and renovations
providing both substantial houses and dramatic lateral
apartments. The generous room sizes and gloriously high
ceilings have already persuaded some Russian buyers to
invest. As the market conditions stabilise, the investment
potential may well attract other equally savvy international investors wanting to
take advantage of foreign exchange. Queen’s Gate is perfectly placed for Hyde
Park, the South Kensington Museums and Harrods.
Another attractive location that has good potential for the future is north Pimlico.
Famed for its Regency architecture, garden squares and proximity to Belgravia
and Victoria to the north and the Thames to the south, it is not exactly a secret, but
prices are not so stratospheric when compared to its northern neighbours. The
most critical event in its value history is likely to be the affect of the development
of the old Chelsea Barracks adjacent to the Royal Hospital by Qatari Diar. The
increasingly chic art, organic and interiors mecca of Pimlico Green is likely to
become the retail focus of the area and its much spoken of streets can only
become the objects of desire.
CLASSIC LONDON
It all suggests an area with prices that might soon be snuffling on the heels
of those of its pricier neighbour, Belgravia. Pimlico does however suffer from a
split personality with Victoria Street cruelly dividing Pimlico Green from what has
traditionally been the most desirable area known as ’the Grid.’ This has some of
the best examples of classic London white stucco period terraces surrounding
both substantial and intimate garden squares including Bessborough, Eccleston,
St George’s and Warwick.

Some of the traditional London hot spots such as

Kensington & Chelsea favoured by wealthy city
financiers are once again becoming potentially good
investment opportunities, however there are areas on
the cusp of established prime locations that provide
even better value for money. These areas have similar
architecture, locations and infrastructure that the
established prime London markets enjoy, but they do
not yet have the reputation.

One area in particular, Queen’s Gate to the west of

Knightsbridge, is a grid of wide boulevards with
stucco-fronted homes on graceful garden squares
that have long been home to third class hotels and
second-class bedsits. It is an example of a fabulous

IN_MAGAZINE
 15

The architecturally eccentric South Bank, its brutalist, 1960s architecture mixed roofless boiler room. Further infrastructure improvements in the shape of a new
with former nineteenth century warehouses, polarises opinion and is not to underground station have also been discussed. The backbone of this proposed
everyone’s refined taste but significant developments – including the glass development is environmental sustainability.
extension to the iconic Tate Modern gallery and large residential projects – are
The areas will be further boosted by the recent announcement that the American
likely to make it attractive to the culturally cooler and more contemporary
Embassy will close their current Grosvenor Square building and move to a
international crowd. It is anticipated that these new buildings will include luxury
more environmentally sustainable and secure site close by in the Battersea
towers with impressive penthouses combined with all the essential facilities of
regeneration area.
modern life, including gyms, spas and suave concierges.
POWER OF THE DOLLAR
POWERSTATION
Bayswater is another area worthy of careful consideration,
One such project, The Shard, a 282-apartment glass edifice
found close to London Bridge, aims to be Europe’s tallest
building. Access to the City of London from the South Bank
W1 lying between Notting Hill and Mayfair. It is far more
cosmopolitan than its neighbours and is close to the

is quick and easy via the famous wobbling Millennium

Bridge, linking St Paul’s Cathedral with the Tate Modern.
W2 delights of Hyde Park. One significant property development
targeting the super-rich that is likely to put Bayswater on

Good restaurants are also to be found, some with

extraordinary views over London, such as the Oxo Tower
NW1 the map is the Lancasters: 66 flats and penthouses on the
site of the Grade II-listed former Thistle Hotel on Lancaster

and the Skylon restaurant in the Royal Festival Hall. Live

here and you’ll also be close to the Old Vic Theatre,
NW3 Gate and Northacre. The developer is hoping it will have the
same effect on prices that Candy & Candy’s One Hyde

Shakespeare’s Globe, the Hayward Gallery and the NW5 Park development had on Knightsbridge.

National Theatre. As a broad rule of thumb, properties

closest to the Tate Modern are, for some incomprehensible NW8 The favourable exchange rates and the softening of prices
combine seductively to open the door to a number of
reason, considered most desirable.

The iconic Battersea PowerStation, forms part of an

SW1 international investors. The very best accommodation in
London will continue to find owners despite the vagaries

ambitious £4 billion development plan by Treasury Holdings

to completely redevelop the site that includes 800,000
SE1 of the financial world order. As traditional uber smart areas
simply and literally run out of rooms, new urban villages
will fill the void. Some are former beauties undergoing
square meters of space for apartments, offices and a hotel.
dramatic facelifts and some are being affected through
The power station’s magnificent turbine halls will become
substantial and genuinely significant new development.
shopping arcades and a six acre park is planned for the

“Within ten years,

the map of where
the smartest crowd
really should live
in London will
have changed.”
IN_the know

DEFINING

IN_MAGAZINE
 By Nick Jopling 17

PRIME
A RESEARCH-BASED APPROACH
EVEN IN THESE UNCERTAIN TIMES LUXURY
RESIDENTIAL DEVELOPMENTS OFTEN GENERATE
HEADLINES. WHETHER IT IS DUE TO THE PRICE,
ARCHITECTURE OR FAMOUS RESIDENTS, THERE
IS A STRONG PUBLIC APPETITE TO KNOW WHERE
AND HOW THE RICH AND FAMOUS LIVE.

The developments, featured in our Super Prime

IN_dex, (sponsored by CB Richard Ellis: the global
property services company), set the benchmark for
top-end living.

However, behind the glitz of highly prized decorations

and adornments, the fundamental attributes of what
makes a new development successful at this level
remains somewhat more elusive. Although some of the
physical features can make a building clearly stand out
from the crowd, there is something more that drives
affluent buyers to demand a home in certain buildings.

Price is an easy measure and is often used to define the

‘best’ residential developments. But price is as much
a function of the location and not necessarily a
barometer of the quality of the building itself. It is
also clear that as the financial markets go through
a global correction the effect on price could be quite
local and primarily confidence driven. While we
recognise the contribution that a location can add to
a Super Prime development, it should be treated as
one of a number of features that collectively represent
Super Prime: the weighting of each of these elements
will undoubtedly be affected by the how the economic
turmoil is felt by the prospective buyers.
DEFINING

PRIME

SUPER PRIME:
WHAT MAKES A PROPERTY SUPER PRIME?
WILL WE SEE A RESURGENCE OF THE MARKET?
AFTER TWO YEARS OF PHENOMENAL GROWTH HOW WILL THE RAREFIED
SUPER PRIME DEVELOPMENTS OF TODAY ADAPT TO THE NEW WORLD ORDER?

WILL THE GLOBAL FINANCIAL CRISIS HAVE A SIGNIFICANT LONG-TERM

EFFECT ON A SECTOR THAT UNTIL RECENTLY SEEMED TO BE SET APART FROM
THE USUAL RULES?

WITH PRICES FALLING GLOBALLY AND NOT PREDICTED TO BOTTOM OUT UNTIL
LATE 2009 OR EVEN 2010, WHAT IS THE FUTURE FOR THIS SECTOR?

IT IS PERHAPS TOO EARLY TO KNOW WHAT WILL BE THE OUTCOME OF RECENT

EVENTS AND HOW THESE WILL CHANGE THE MARKET LANDSCAPE. HOWEVER
IT IS IMPORTANT THAT THESE QUESTIONS BE INVESTIGATED AND IN FUTURE
ISSUES WE WILL EXPLORE THESE AND OTHERS FURTHER.

IN THIS, THE FIRST ISSUE OF IN_, WE DISCOVER THE ATTRIBUTES THAT MAKE
A BUILDING SUPER PRIME SO WE ARE ABLE TO UNDERSTAND HOW THE
FUTURE MAY UNFOLD.

One Hyde Park. Now that’s an address. This striking development in London’s
Knightsbridge has a pivotal position at the top of Sloane Street. And the building,
currently under construction through Candy & Candy, will be equal to the location
when it is completed later in the year. Contemporary design complements the
historic surroundings and 5-star services are provided via an underground
passage with the adjacent Mandarin Oriental Hotel. The building sets out a bold
new standard for this privileged part of London and has achieved some of the
highest house prices in the world to date.

Candy & Candy are among the most celebrated Super Prime developers in the
ONE HYDE PARK. world. Their commitment to uncompromised luxury is ingrained in the very fibres of
Now that’s an address. the buildings they create. Candy & Candy are leading the charge to continuously
redefine the ultimate in luxury, staying one step ahead of the insatiable global
This striking development appetite for exclusivity, nevertheless even they will not be immune from the chill
winds of global recession.
in London’s Knightsbridge
By their very nature, Super Prime buildings are in a league of their own. They set
has a pivotal position at the standard by which luxury can be understood, so we have set out to define
the top of Sloane Street. what it really means for a residential development to be Super Prime.

And the building, Although location plays a vital role in reinforcing the quality of the development,
we have focussed on the physical features contained in these developments. We
currently under have considered the design of the building from inside and out, often including
ancillary uses – particularly hotels and high-end retail. The quality of specification
construction through and the standard of services offered allow us to set a benchmark by which ‘the
Candy & Candy, will be rest’ can be measured. Often, this involves an association with luxury goods and
the best brands in the world, however Super Prime buildings can also be far more
equal to the location reserved and shouldn’t be judged on this basis.

when it is completed But don’t judge a building by its cladding. The amazing thing about Super Prime
buildings is that they can adopt two personas. One is flamboyant and lavish; the
later in the year. other makes discretion a habit. This is a pivotal issue when it comes to security,
an important factor to also consider when creating homes for the world’s elite.

IN_MAGAZINE
 19
EE

RISK TO PRIME AND SUPER PRIME RESIDENTIAL PRICES (£PSF), Q4 2008

LONDON, UK MOSCOW, RUSSIA
PRIME £3,400 PRIME £1,200
PARIS, FRANCE TOKYO, JAPAN
SUPER PRIME £5,000 SUPER PRIME £3,600
PRIME £800 PRIME £1,150
SUPER PRIME £1,700 SUPER PRIME £1,400

NEW YORK, USA HONG KONG, CHINA

PRIME £1,400 PRIME £1,150
SUPER PRIME £3,300 SUPER PRIME £3,900

LOS ANGELES, USA SINGAPORE

PRIME £1,150 PRIME £650
SUPER PRIME £2,850 SUPER PRIME £1,100

MADRID/BARCELONA, SPAIN SYDNEY, AUSTRALIA

PRIME £770 PRIME £850
SUPER PRIME £1,200 MONTE CARLO, MONACO DUBAI, UAE SUPER PRIME £1,400
PRIME £2,000 PRIME £900
SUPER PRIME £5,850 SUPER PRIME £2,250 Source: CB Richard Ellis
KEY
• Good potential • Caution values may still fall • High risk to values
SUPER SUBLIME At the other end of the spectrum, the persona more commonly associated
One Central Park, completed by the Related Companies in 2005, has also with Super Prime developments elsewhere in the world is far less camera shy.
used a bold architectural approach for this prominent location. Two towering Emaar Properties’ Burj Dubai may be the best example of this. A truly unique,
skyscrapers of mirrored glass offer uninterrupted views from Columbus Circle jaw-dropping and neck straining design, the building can’t be missed, and
across the Park. Complete with three levels of retail, a concert hall and a Mandarin not just because it is now well on its way to becoming the world’s largest man-
Oriental Hotel, the building stands out in a skyline already world-renowned for made structure. The shimmering glass and steel of this new icon for Dubai is
being remarkable. a beacon in the desert, a vertical castle in the sand. Comprising the first Armani
Hotel and Armani Residences, the interiors of which have been personally
However, next door to One Central Park is 15 Central Park West. From the street
designed by Giorgio Armani, the tower leaves no question of the Super Prime
there is nothing remarkable to catch the eye; no bold architecture, no highly
luxury on offer inside.
polished metals, no contemporary lines. The building blends in among the Art
Deco towers of the Upper West Side and could be easily missed unless you knew It is said that in Asia, ‘face’ matters much more than anywhere else. Living in the
what you were looking for. right building with the right address is one of the best statements of success that
a person can make. Take Roppongi Hills in Tokyo for example, which shifted
But don’t be deceived.
the axis of high-end living in the city. This caused some major redesigns of the
The apartments sold faster and for higher prices than any top-end development amenity facilities on offer to accommodate the demand from non-residents
in New York since its launch in September 2005. Buyers are celebrity and non- who just wanted to spend time in the area.
celebrity alike, but they share a common desire to have a home life out of the
In Shanghai, China’s largest metropolis, changes over the past decade are
public spotlight. This theme is repeated throughout the world.
palpable. Alongside this growth, new found wealth and luxury is now on show.
For the British, wealth has traditionally been understated, a consideration which For example, the Residences 8 in Xintiandi overlooks Huai Hai Park and is located
was adopted for The Knightsbridge in the heart of this city with a racing pulse.
according to Marketing Manager
PART-TIME HOME, BUT NO EXPENSES SPARED
Sarah Bennett.
So how do you accommodate the expectations of a global elite that treat homes
“At The Knightsbridge, we set as collections and may not use one place for more than a few months of the year?
out to create the most luxurious Servicing their needs becomes something of a balancing act. A 5-star beck-
development that London had ever and-call butler service or a guaranteed 3am Poitrine de veau Corrézien braisée
seen, right in the heart of one of comes at a price.
the world’s most fashionable areas.
Developers of luxury living recognised this demand for uncompromised service
Our residents expect the best, but
in the late 1990s and the solution has come in the form of hotel residences. Hark
don’t necessarily want the world to
back to the days when the rich and famous made hotels a home, such as Herbert
know it.”
Hoover at the Waldorf-Astoria, or Monet and Bob Dylan at London’s Savoy. The
world’s finest new hotels now often include privately-owned suites designed
into, or alongside, the hotel itself.
 DEFINING
PRIME
Consider the St Regis Residences in Singapore, with 173 homes over 23 storeys,
each with full access to the range of services provided by this world-class hotel
brand. From a full catering and turn-down service, to a 24-hour concierge and
day-to-day child care, residents will be able to access the complete spectrum
from within their own building. It is like sharing the cost of a full private staff with
the neighbours, ensuring that every demand is met, wherever or whenever they
are needed.

Many of the Super Prime developments featured in our list of the best buildings
of the world have now adopted this enhanced approach to offering services.
Whether it is in-house or through a servicing agreement with a nearby hotel, this
has become a common feature of luxury living.

However, there are certain instances where the local area is so rich with amenities
that services don’t necessarily need to be ‘in-house’. For example, in New York
there are a number of new luxury residences along the Upper East Side such
as One Beacon Court that can easily benefit from all that is offered on both Park
and 5th Avenues. This mirrors the format of older co-op buildings for which this
area of Manhattan is famous.

BEST BUILDINGS IN THE BEST LOCATIONS

Fashionable addresses are a key feature of many Super Prime buildings. One
Hyde Park, taking the cue from One Central Park or One Beacon Court, is a good
example of using an address to reinforce the ‘best in class’ standard. But the
address is only as good as the area in which it sits. To be Super Prime is to truly
be the best in a market. However, there are only a handful of cities in the world
that can support a Super Prime building.

Individual residences and small clusters of wealth can appear almost anywhere.
But to attract a critical number of wealthy residents the city itself must be
sufficiently large and desirable. This is why you will not find a Super Prime building
in a regional city or indeed in many of the world’s big centres.

The rise of Asian cities on the world stage has dramatically shifted the world’s
axis of wealth. New developments in Asia have often proven to be more dramatic,
bold, and of course, more opulent than in western cities.

Beijing, with rising Chinese wealth and a successful Olympic Games to boost
its fortune, is a newer entry to the Super Prime universe. The internationally
recognised Park Hyatt brand has brought the height of luxury living to the
heart of the city with their Residences in the Yintai Centre. This marriage of a
dynamic commercial location and unbridled luxury has proven a potent and
successful partnership.

Equally, developments in The Peak area of Hong Kong stand apart from anything
else on the island. With coveted views of both azure seas and green forest, this is
the natural home of Super Prime properties. However, it is not the only desirable
part of the more mature luxury market in Hong Kong, aptly demonstrated by
The Harbourside development in West Kowloon.

In Monaco, the best buildings do not stray far from the area between the Casino,
the Prince’s Palace and the Jardin Exotique, known as the Golden Triangle. In
Moscow, it is Red Square that is the fulcrum point. In Bankok, seek out Sathorn
and you will find the Sukhothai Residences.

London’s West End is the traditional vestige of wealth, packed with world class
culture, world leading business, and of course, some of the world’s most

IN_MAGAZINE
IN_MAGAZINE
 EE
21

expensive homes. This tradition has also meant that new luxury buildings,
despite their rarity, must compete with tastefully refurbished homes in Georgian
squares or Victorian terraces in areas such as Chelsea, Belgravia and Mayfair.
However, as London has claimed the status of the world’s capital, global
demand has begun to encourage modern architecture and contemporary
living into these historic enclaves.

New York also has no single luxury residential market. The Upper East Side
contains the majority of Manhattan’s luxury residential towers, including Alexico
Group’s newest addition, The Mark. However, top quality buildings can be
found across the peninsula. This includes much of Midtown and portions of
the Upper West Side, but new high end developments have also been
constructed recently in Greenwich Village and SoHo.

This lack of a distinctive luxury market is said to put off some international
buyers who prefer to have recognition of their societal status. One property
agent complained that Russian buyers struggle to come to terms with the New
York market because wealth and ‘ordinary people’ are forced to mix too much
for their taste. Despite this apparent perception issue from some international
buyers, buildings such as 40 Bond Street and 40 Mercer Street sold well, even to
non-American buyers.

SAFE AS HOUSES
All this wealth in one location has a price when it comes to security. However,
as Nick Candy points out, the security at a Super Prime residence is likely to be
far better than at an individual property.

“At One Hyde Park we are able to “Of course, some of

provide our residents with a level of
security that can’t be achieved in a the security features
single house with a front door onto built in we simply
the street. Multiple points of scrutiny
for anyone entering the building can’t tell you about.”
ensures that we know exactly who
they are before they get to the
resident’s door. Of course, some
of the security features built in we “The choice of
simply can’t tell you about.”
residence must be
This is echoed by Nigel Churton,
Director of Control Risks, world able to adequately
leaders in security and protection defend against these
for high-net worth individuals.
risks, without having
“In the event of nightmare
scenarios becoming a reality – an onerous effect on
an executive kidnap, extortion
quality of life.”
demands from local guerrillas –
high net worth individuals must
be able to respond quickly and
effectively to preserve life and to
secure operations and reputation.”

“The choice of residence must be AND FOR THE FUTURE

able to adequately defend against OF SUPER PRIME LIVING?
these risks, without having an WE WILL RETURN TO THIS SUBJECT
onerous effect on quality of life.” IN FORTHCOMING EDITIONS.
 PRIME Panel of Judges

This research study set out to discover what attributes 4_MS PANSY HO
make up the world’s most luxurious and prestigious Managing Director of Shun Tak Holdings Ltd.
residential developments. Ms Pansy Ho is Managing Director of Shun Tak Holdings
Ltd, a leading Hong Kong listed conglomerate with core
Information was solicited from a short list of the best
businesses in the transportation, tourism and hospitality,
modern buildings in the world and evaluated by our panel
property development and the investment sectors. Ms
of judges. The judges are quite simply some of the worlds
Ho oversees the overall strategic development and the
most respected experts in all facets of luxurious living.
management of the Shun Tak Group. She also runs offices
From their extensive experience five broad categories
of key executives in various business entities. Besides
were considered for each scheme:
gearing her efforts in business endeavors, Ms Ho serves
1. Location on a host of economic, social and public services, which
2. Architecture has won her numerous awards and recognition.
3. Quality / Branding
5_LOUISE SUNSHINE
4. Services
Chairman Emeritus of The Sunshine Group, New York.
5. Security
Under her direction, the Group has grown dramatically and
is nationally recognized for its outstanding record in the
The study has only considered developments of a critical
marketing and sales of luxury condominium residences
size and is restricted to schemes which have either recently
and hotels throughout the US. She has been associated
been completed or that are currently under construction.
with a number of luxury developments designed by some
In addition, these developments are located in urban
of the world’s leading architects.
centres. Resort-style developments do not feature in
the research. 6_NICK JOPLING
Chairman of the judges:
Executive Director Residential division of CB Richard Ellis
sponsors of the Super Prime IN_dex.
1_GEORGE MORGAN-GRENVILLE
CB Richard Ellis is the world’s leading commercial real
President of Abercrombie & Kent Ltd.
estate advisor, with over 300 offices in more than 50
Abercrombie & Kent Ltd is a luxury travel agency which
countries. Nick started his property career running his
moves 25,000 people a year to 100 countries on all seven
own property management business. In 1997 he joined
continents. He became Managing Director of A&K Thailand
Allsop & Co. as Managing Director of the residential
in 1998 and then Managing Director of A&K London in
investment management business (ARIM Ltd) In 2004
January 2000. Under his guidance, the company won the
Nick became Managing Director of CB Richard Ellis
coveted “World’s Best Tour Operator” award.
Hamptons International Ltd a joint venture, In 2007 the JV
2_TERRY TYRRELL team was absorbed in to the various CBRE development
Worldwide Chairman of Brand Union teams to form a unique integrated development service.
(formerly Enterprise IG),
Brand Union is one of the world’s leading international
global branding agencies with clients including Credit
Suisse, Deloitte, Diageo, Johnnie Walker, Shell, Ericsson
and Vodafone. Based in the City of London, with 600
employees working across 24 offices in 22 countries.

3_NIGEL CHURTON
Vice Chairman of Control Risks Group Limited, London.
The Control Risks Group Limited specialise in advising
corporations on resolving incidents of kidnap and other
forms of corporate extortion. He has had various articles
published and has lectured extensively around the world
on security related problems including crisis management,
the problems of investing in emerging markets and other
security related crimes.

For more information on any of the featured

properties please contact Jonathan Seal
jonathan.seal@cbre.com
IN_MAGAZINE
 23

PRIME IN_dex

ONE HYDE PARK

LONDON
DEVELOPER Candy & Candy NUMBER OF UNITS 80
ARCHITECT Rogers Stirk Harbour + Partners COMPLETION 2010
INTERIOR DESIGNER Candy & Candy SPA DESIGNER Mandarin Oriental Hotel group
WEBSITE www.onehydepark.com

THIS BUILDING REDEFINES LONDON’S

POSITION AS THE PRE-EMINENT CITY
IN THE WORLD TO WORK AND TO LIVE.
The site of One Hyde Park is one of the most privileged in London, at the The interiors have been designed to provide a seamless transition from inside to
confluence of Knightsbridge, Sloane Street and Brompton Road. There are out. One Hyde Park will offer the highest quality interior design ever produced for
unimpeded views of Hyde Park to the north and access to the shops, restaurants a residential development. Purchasers will have the opportunity to choose from a
and services of the Knightsbridge area and the West End. The Candy & Candy palette for the stones and timbers of their bathrooms, kitchen and all living areas.
interior design vision is to create the most exquisite interiors for the most It is hoped that One Hyde Park will change the perception of luxury.
exclusive address in the world and in doing so introduce a new lifestyle ideal.
Adjacent is the Mandarin Oriental Hotel from which a dedicated, on-site team
The building is divided into four linked pavilions to improve permeability and to
will provide full security and concierge services to residents at One Hyde Park.
connect the park to Knightsbridge. The recesses between pavilions allow light
The building is designed for complete discretion; even staff will enter via a
to flow into the apartments deepest spaces, but with the exterior fins to ensure
separate access.
absolute privacy within each apartment.
 PRIME IN_dex

THE SPIRE
CHICAGO
DEVELOPER Shelbourne Development NUMBER OF UNITS 1,193
ARCHITECT Santiago Calatrava COMPLETION Early 2012
INTERIOR DESIGNER Santiago Calatrava WEBSITE www.thechicagospire.com

THE SHAPE REPRESENTS THE

ELEMENTS, THE IDEA OF FLUIDITY AND
GROWTH, THE BEAUTY AND PERFECTION
OF THE GEOMETRICAL FORCE.
This spectacular tower is located beside Lake Michigan and the Chicago River. with residents living literally in the clouds. The cathedral like entrance hall is
It is very close to Michigan Avenue, also known as the Magnificent Mile, and 50ft high and designed to a top quality European specification. The units are
Chicago’s Central Business District. At 147 storeys, units in this iconic tower designed as oversized, American style apartments.
have panoramic and uninterrupted views across, and above, Chicago’s skyline.
The building is designed with a ‘vertical village’ on 5 floors that includes a
The Spire is the tallest building in North America, twisting as it rises. With
spa, pools, massage and fitness areas for the body; a library and business
each floor constructed as a separate platform, no two units are the same.
centre for the mind; as well as a café, lounge area and 40-seat theatre for
The building is designed on natural principles, with the exterior likened to entertaining guests. Services are provided in house and include a 24-hour
the repetition found in seashells. It will be a dramatic addition to the skyline, concierge, personal shopping and turndown.

IN_MAGAZINE
 25

PARK HYATT RESIDENCES

BEIJING
DEVELOPER Beijing Yintai Property Co. Ltd NUMBER OF UNITS 216
ARCHITECT John Portman & Associates COMPLETION Q4 2007
INTERIOR DESIGNER Remedios Siembieda Inc WEBSITE www.yintai-centre.com

IF THEY WERE HANDING OUT

MEDALS FOR PROPERTY AT THE
BEIJING OLYMPICS PARK HYATT
WOULD HAVE GOT GOLD.
Park Hyatt Residences are located on floors 7 through 33 of Beijing Yintai Centre
in the core area of Beijing’s central business district. Beijing Yintai Centre’s central
tower is the highest building on Chang’an Avenue and dominates the magnificent
view of the city. The Centre contains boutique hotel, luxury residences, office
towers, entertainment and retail facilities of the highest standards. Designed to
enhance the Beijing skyline, Beijing Yintai Centre is a comprehensive mixed-
use complex that rises from a water garden park at its base. The three towers
are square in form and are designed for elegance, simplicity and functionality.
The residential tower is the focal point of the project.
This creative and far sighted vision offers completely furnished apartments in
the style of a contemporary luxury hotel. Every inch of the unit has an organic
and open design, and every detail has been scrutinized to achieve the highest
level of comfort and serenity. These apartments will set a new standard for top
end accommodation in Beijing, complete with the choice of Park Hyatt services.
They are not only the ideal living place for successful business people, but also
a great choice for homeowners who aim to achieve property value preservation
and appreciation.
 PRIME IN_dex

THE HARBOURSIDE
HONG KONG
DEVELOPER Hang Lung Properties ltd NUMBER OF UNITS 1,122
ARCHITECT P&T Architects COMPLETION 2003
WEBSITE www.theharbourside.com

THE HARBOURSIDE IS LOCATED

ON TOP OF MTR AIRPORT EXPRESS
KOWLOON STATION IN WEST KOWLOON.
IT IS IMMEDIATELY ADJACENT TO ICC,
THE TALLEST BUILDING IN HONG KONG.
The residences enjoy the most privileged panoramic view across Victoria hotels (Ritz Carlton and W Hotel) and grade A offices. Neighbouring the
Harbour, directly facing the symbolic Two IFC, the landmark of Hong Kong Harbourside is the location of the world-class West Kowloon Arts, Cultural
Island. The Harbourside is just one MTR stop – or three minutes – to Central & Entertainment District.
Hong Kong. In the other direction, it’s just 20 minutes to HK International
The interior layouts have also been thoughtfully planned so that magnificent
Airport on the Airport Express. Convenient check-in services exist directly at
vistas of the harbour can be viewed from the living room, dining room,
Kowloon Station.
bedrooms and even the kitchen. The structural flexibility of the unit design also
Kowloon Station is one of the largest developments in the world. The 12 allows buyers to alter apartment layouts to suit their specific requirements.
million square foot development is double the size of London’s Canary Wharf All units are finished in three interior ‘collections’ – Contemporary, Modern
and includes residential flats, serviced apartments, a 1 million square foot Classic and Black-and-White.
shopping mall (Elements), a 700,000 square foot landscaped park, 5-star

IN_MAGAZINE
 27

ONE CENTRAL PARK

NEW YORK
DEVELOPER The Related NUMBER OF UNITS 126/65
ARCHITECT Skidmore, Owings & Merrill COMPLETION 2004
INTERIOR DESIGNER Ismael Leyva Architects WEBSITE www.related.com

IN THIS CITY OF CONTRASTS, THE

SOFT EDGES OF CENTRAL PARK RUB
UP AGAINST HARD EDGE OF THIS
BUILDING’S EXTERIOR WHICH YELLS
THIS IS MANHATTAN LUXURY LIVING.
One Central Park is located atop the Time Warner Centre towers on the Pre-wired state-of-the-art technology and automated building systems are
southwestern corner of Central Park. This spectacular location offers the most combined with gracious entrance galleries, generous great rooms, 10 foot ceiling
commanding views of any residences overlooking Central Park. Located in heights and expansive walls of glass to offer an exclusive and serene enclave
the cultural heart of New York City, One Central Park is only minutes from just steps from the best of New York.
the Lincoln Centre, Carnegie Hall, the Museum of Modern Art and Rockefeller
A White-gloved concierge service personally caters to every possible request.
Centre. The 2.1 million square foot Time Warner Centre offers in-house luxury
One Central Park residents are treated as permanent guests of the Mandarin
and services for residents, including the world-renowned Mandarin Oriental
Oriental with preferred access to the Mandarin Oriental spa, health and fitness
Hotel, Jazz at the Lincoln Centre, 3 levels of luxury shops and an unparalleled
centre and 75 foot indoor infinity pool.
collection of restaurants.
 PRIME IN_dex

THE KNIGHTSBRIDGE
LONDON
DEVELOPER Knightsbridge Project Management Ltd NUMBER OF UNITS 205
ARCHITECT Squire & Partners COMPLETION 2005
INTERIOR DESIGNER Helen Green; Taylor Howes Designs; Allegra Hicks. WEBSITE www.theknightsbridge.com
David Linley furniture

THE KNIGHTSBRIDGE HAS SET

THE STANDARD OF MODERN LUXURY
LIVING IN LONDON AND IN THE
PROCESS HAS REDEFINED HOW TO
LIVE IN ONE OF THE WORLD’S MOST
EXCLUSIVE NEIGHBOURHOODS.
The building is located in the centre of the most exclusive neighbourhood in easy reach. The design of the building has a modern feel, with polished
the world. The biggest names in luxury goods are all located within a stone’s limestone and marble, complemented by a selection of hardwoods, chrome
throw, alongside some of the world’s most expensive homes. Sales of some finishing and black granite surfaces. However, it is reserved in character, with
homes in the area have topped £100 million and are the primary residences few signs on the exterior of what awaits inside. A landscaped garden to the
of the wealthiest people in the world. When The Knightsbridge was completed rear provides a sanctuary for the 191 oversized apartments, 7 penthouses and
in 2005 it set a new benchmark by which top buildings in London should 7 mews houses.
be measured. New buildings of this scale are comparatively rare in this
While under the management of Hyatt International Hotels, services such as
historic enclave.
housekeeping, personal shopping and catering as well as 24-hour concierge
Apartments enjoy close proximity to the expansive Hyde Park and Kensington services, such as restaurant and theatre booking services, are provided.
Gardens. Heading east, Mayfair and the rest of the West End are also within

IN_MAGAZINE
 29

RESIDENCE 8
SHANGHAI
DEVELOPER Shanghai Apartments (Mauritius) Company Ltd NUMBER OF UNITS 308
ARCHITECT RTKL COMPLETION Q1 2009
INTERIOR DESIGNER Eric Brooke Hayden WEBSITE www.residence-8.com

THE TWO 31-STOREY TOWERS

OF RESIDENCE 8 ARE THE
RECOGNISABLE LANDMARKS
IN XINTIANDI IN SHANGHAI.
Apartments facing north overlook Huai Hai Park, with views to the South All units come fully furnished with original pieces from famous European
overlooking Tai Ping Lake. Within a short distance to all of the city’s major sights designers. The 308 luxurious apartments are decorated with modern, rare and
such as People Square and the famous shopping areas of Huai Hai Road exquisite natural stone. Each unit comes fully fitted with all major kitchen
and Nanjing Road. appliances, as well as a sophisticated computer system able to control room
temperatures, lighting and electronics.
The West Tower has a ground/ mezzanine floor retail component of approximately
3,200 square metres with a prestigious mix of tenants including designer stores,
restaurants and fashionable street side cafes. Level 2 of the building features a
‘sky bridge’ that links East and West towers over the drive court and Jinan Road.
 PRIME IN_dex

ONE BEACON COURT

NEW YORK
DEVELOPER Vornado Realty Trust NUMBER OF UNITS 105
ARCHITECT Cesar Pelli COMPLETION 2005
INTERIOR DESIGNER Jacques Grange WEBSITE www.beaconcourtrealty.com

LIVING IN MANHATTAN
IS A LOUD, OBNOXIOUS
IN-YOUR-FACE SLUGFEST.
NOT ANYMORE.
One Beacon Court occupies a full block of Manhattan between the Upper East the mirrored and angled glass that greets visitors enhances the sentiment of
Side and midtown. The nearby shopping parades of 5th Avenue and Park Avenue contemporary luxury living which the building exudes.
(with Bloomingdales located directly across the street) are complemented
Design features include floor to ceiling glass, reception galleries, libraries,
by historic entertainment venues along nearby Broadway. Unimpeded views
formal dining rooms, specially equipped gourmet kitchens and windowed
from the upper levels can take in the East River, Central Park or the dramatic
breakfast rooms. High ceilings and solid hardwood floors offer a modern take
skyline of midtown and lower Manhattan.
on hi-rise luxury living for New York. The famous Le Cirque Restaurant & Bar
Also known as the Bloomberg Tower due to the famous financial market tenant is located in the building and special features include a 29th storey fitness
of the lower level offices, it is set to become a modern icon of Manhattan. The centre for residents.
entrance is partly concealed from 58th avenue by the recessed courtyard,
providing roll-up access to the front door and a level of privacy. However,

IN_MAGAZINE
 31

BURJ DUBAI UNITED

ARAB EMIRATES
DEVELOPER Emaar Properties COMPLETION Mid 2009
ARCHITECT Skidmore, Owings and Merrill WEBSITE www.burjdubai.com
INTERIOR DESIGNER Giorgio Armani

FOR ME, THE BURJ DUBAI IS

LIKE A CHILDHOOD FANTASY,
EXCEPT THIS CASTLE IN THE
SKY IS THE REAL THING!
Burj Dubai anchors Downtown Burj Dubai, a 500-acre, $20 million dollar mixed- The interior of the building is intimately associated with Giorgio Armani, including
use community. It is in close proximity to The Dubai Mall, one of the world’s largest the first Armani Hotel and Armani Residences. The Armani Residences employ
shopping and entertainment destinations. The neighbourhood – described as the the latest advances in smart home technology, offering control over security,
new heart of Dubai – will have 30,000 homes and nine world-class hotels. temperature, lighting, draping, lighting and air conditioning, providing homeowners
with a new level of modernity. All furnishings are made to measure with bespoke
Burj Dubai derives its design inspiration from the desert flower, Hymenocalis,
finishes. Not a single detail is left to chance and each element plays a precise
and incorporates patterning systems that are embodied in Islamic architecture.
role in the overall harmony of the homes.
The tower is designed as three petals arranged around a central core. Burj Dubai
is a global icon – a unique development that pushes the frontiers of architectural,
engineering, construction and design excellence.
 PRIME IN_dex

ST. REGIS RESIDENCES

SINGAPORE
DEVELOPER Richmond Hotel Pte Ltd NUMBER OF UNITS 173
ARCHITECT RSP Architects COMPLETION 2008
INTERIOR DESIGNER St. Regis WEBSITE www.stregisresidences.com

IT IS THE PREFERRED ADDRESS OF

THE PRIVILEGED AND AFFLUENT
AND IS ALSO A STONE’S THROW AWAY
FROM SINGAPORE’S MOST FAMOUS
SHOPPING BELT, ORCHARD ROAD.
Known as the Garden City, in Singapore you will discover an intoxicating blend
of culture, cuisine, arts and architecture. As a truly global city, Singapore is
attractive to the world’s elite because of its excellent infrastructure and high
level of security as well as top-notch standard of living. St. Regis Residences
Singapore is located in Singapore’s most expensive and exclusive real estate
district where residential property prices have been hitting record highs.
The 173 beautifully appointed residences are in two exclusive 23-storey towers.
Residents will enjoy panoramic views of the city in the privacy and luxury of
their home. Three main buildings embrace a serene inner sculpture and pool
garden, composed of the 20-storey hotel tower and two 23-storey Strata
Apartment towers. The rich foliage of the garden is illuminated by soft lighting,
accented by cascading water, and complemented by tropical fish and birds.

A world of timeless elegance awaits you the moment you enter St. Regis
Residences. With exquisite ambiance, unparalleled style and incomparable
design, the interiors are also lavishly furnished.

IN_MAGAZINE
 33

THE MARK
NEW YORK
DEVELOPER Alexico Group NUMBER OF UNITS 42
ARCHITECT Schwartz & Gross/ SLCE COMPLETION Late 2008
INTERIOR DESIGNER Jacques Grange WEBSITE www.themarkhotel.com

THE CONTEMPORARY
REDESIGN OF THE MARK HAS
HELP REINTRODUCE TODAY’S
NEW YORK SOCIETY WITH ITS
OWN PAST.
The Upper East Side is the most exclusive neighbourhood in Manhattan. It and sculpture for the lobby and bar contribute to the exclusive feel as one enters
includes world-class cultural destinations such as the Metropolitan Museum of The Mark. Bar Mark, personally designed by interior designer Jacques Grange,
Art, and provides the best of New York’s shopping regions along Park Lane and is expected to be a celebrity hot spot in the near future. Services include all the
Fifth Avenue. Located in the middle of these New York icons, the suites at The usual features of luxury buildings, including 24-hour Concierge and doorman,
Mark also offer views over Central Park. The historic Mark Hotel was completed personal shopping and delivery, dry cleaning and travel agency.
in 1927 and has become a landmark building in the city.
However, personalized services such as multilingual secretarial support,
The interior is intended to complement the classic design and original features supervised childcare and dog walking are also combined with a fresh flower
of the building, while still retaining a contemporary outlook. Commissioned art service and access to limousine services and airplane charters.
 PRIME IN_dex

THE SUKHOTHAI RESIDENCES

BANGKOK
DEVELOPER Grace Ivory Co Ltd NUMBER OF UNITS 196
(a subsidiary of HKR International Ltd) COMPLETION Q4 of 2011
ARCHITECT Kerry Hill WEBSITE www.sukhothairesidences.com
INTERIOR DESIGNER Kenny Hill and Ed Tuttle (Penthouse Zone)

THE SUKHOHTAI HOTEL OFFERS

5-STAR HOTEL CONCIERGE
SERVICES AND MANAGEMENT TO
THE SUKHOTHAI RESIDENCES.
Superbly located in the heart of Sathorn, the prestigious CBD and embassy
belt, the development enjoys a strategic location with lush green surroundings
and yet is within strolling distance of the city’s business, dining and shopping
establishments. The contemporary design of the building features a regular
and symmetrical modular structure, allowing a column free and flexible
interior layout.
The development showcases:
• Private lift lobby offered to all 196 units
• Most units come with distinctive features such as 6.6 metre double height
ceiling, plunge pool, spacious balcony and terrace
• Floor-to-ceiling windows to enjoy the magnificent views
• Ensuite bathrooms provided for most bedrooms
• All bedrooms fitted with built-in or walk-in wardrobe
• Understated and elegant finishes using teak, basalt, marble and granite
• Sophisticated home automation and eco-friendly systems installed
The development offers unparalleled facilities including a generous landscaped
garden, a 100-metre water complex (comprising a 50-metre long adult pool, a
children’s pool and reflective pools), a 2-level pool pavilion (accommodating
the gym, yoga and pilates studio, steam and sauna rooms and a pool side
juice bar); childrens playroom, tennis court, jogging trail and most importantly,
a unique sky lounge known as ‘Nim Marn Lounge’ offering the most exclusive
venue for private parties, soirees and gatherings.

IN_MAGAZINE
 For almost 100 years,
our commitment

unwavering
to serving our clients across the globe has been

For further information about Merrill Lynch Global Wealth Management, please contact:

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© 2008 Merrill Lynch & Co., Inc. Not all of the products and services offered by Merrill Lynch are available in all jurisdictions.
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IN_sight

IN_MAGAZINE
 37

HAS THE WORLD ECONOMIC

TURMOIL SIGNALLED THE END
TO THE RUSSIAN ECONOMIC
BOOM AND WHAT COULD
THE IMPLICATIONS BE FOR
THE PRIME RESIDENTIAL
PROPERTY MARKET?

By Hugo Greenhalgh
 IS THE BOOM IN RUSSIA AND
ACROSS MOST OF EASTERN
EUROPE NOW OVER?
THE CHILL WINDS OF WORLD
ECONOMIC SLOWDOWN ARE
DRIVING THE COUNTRY’S
GROWTH FORECAST FOR 2009
TO BE CUT TO 3% (DOWN FROM
OVER 8% IN 2007), AS THE
DEMAND FOR OIL HAS
DROPPED FROM THE SUMMER
HIGH OF $147 / BARREL IN 2008,
TO AROUND $50 AND MAY GO
EVEN LOWER AS MANY OF THE
LARGER ECONOMIES GRAPPLE
WITH FISCAL PACKAGES TO
SOFTEN THE SLIP INTO
RECESSION DURING 2009.
IN_MAGAZINE
 As the world 39
economy recovers
developers will
once again be
snapping up land
on the outskirts
of the capital,
building
hundreds of
homes and –
this is the real
novelty for
Muscovites –
gyms and schools
and shopping
centres.
A BRIGHT FUTURE
In the long-term the Russian market has some very strong fundamentals.
Suburbia has come to Moscow. “If you think about suburbia from a western point
of view and see Moscow as New York City, then you’ll see the suburbs of Scarsdale
and Greenwich have existed for a long time,” says Ms Raynolds. “They’ve had
good schools and hospitals, which is why people moved out of the city. “Until
recently in Russia we’ve never had that.”

It used to be just apparatchiks that could afford the dacha in Moscow’s leafy outskirts.
Tales of blacked out Zil limousines ferrying a drunken Boris Yeltsin from country
home to country home still circulate the foreign press bars of downtown Moscow.

As the world economy recovers developers will once again be snapping up

DROP IN CONFIDENCE
Moscow, the city that once boasted more billionaires than any other, saw the
stock market drop by over 70% in October and November 2008, requiring the
Kremlin to step in and bailout many of its favorite oligarchs from crushing debt to
foreign banks and support the troubled rouble. The spectre of devaluation as in
1998 haunts many Russians still today.
In recent years, Moscow has experienced a property boom like no other, seeing
prices increase by 400% since 2004. The demand for premium residential
property remains largely unchanged in spite of the economic turmoil, though
the outlook is uncertain.
land on the outskirts of the capital, building hundreds of homes and – this is the
real novelty for Muscovites – gyms and schools and shopping centres. There
is a demand for this from the middle classes who want to move out of the
dirty, dangerous capital and raise a family in the relative calm of Moscow’s shiny
new suburbs.
The financial crisis will shake the Russian property market however. As the world
economy recovers and the demand for energy increases the market will once
again show rapid growth in the premium sector as there is pent up demand. In
the meantime, those HNW Russians looking to invest wisely in some of the
major cities around the world or perhaps looking for a dream resort property,
now may be a good time to seek out a trusted property adviser.
HUGO GREENHALGH IS EDITOR OF
THE FINANCIAL TIMES’S INVESTMENT ADVISER

However in the prime sector the market is beginning to soften quickly, with the
3rd quarter of 2008 registering a 30% drop in transactions. There is also reportedly
an increase of over 70% in the supply of properties which could start to depress
prices by as much as 25% in the near term, as developers offer large discounts.
Until stability returns the market could experience a substantial correction,
which may well start to affect the premium residential segment during 2009. It is
predicted that with softening demand only a few strong developers will remain
standing at the end of the domestic financial turmoil.

As Russia’s economy boomed there was a net inflow of investment, which

reversed a previous trend where Russian money flowed out of the country. Forbes
magazine estimates that between 1998-2004 more than $100bn left the country
– much of it finding its way into the top end of London’s real estate market.

“Russians only buy abroad when they cannot buy in Russia,” explains
Ms Raynolds, a leading Russian property consultant. Perhaps with underlying
stability and security concerns this trend may well emerge once again as prime
property in cities such as London become increasingly more attractive to investors
whilst the economy recovers.
IN_the know NO.1 - EL BULLI
Not since Geoff Hurst won England the World
Cup in 1966 has there been a hat-trick as
impressive as this: El Bulli crowned the best
THE restaurant in the world for the third consecutive
S.PELLEGRINO year, once more pipping The Fat Duck to the
WORLD’S golden prize. Were it not for the fact that Heston
50 BEST Blumenthal and Ferran Adrià are such good
friends you might have expected Blumenthal
RESTAURANTS
to sink his teeth into Adrià when the awards
IS RECOGNISED
were announced at the S.Pellegrino World’s
AROUND THE
50 Best Restaurants ceremony in London.
WORLD AS THE
It’s not hard to see why El Bulli, which also
MOST CREDIBLE
topped the poll in 2002, remains our judges’
INDICATOR favourite. The dazzling dishes that Adrià
OF THE BEST continues to conjure are by now the stuff
PLACES TO EAT of legend. El Bulli has built its reputation on
ON EARTH. its astonishing inventions, on pioneering
techniques that yield results on the table
that surprise, provoke, engage your sense
of humour and taste divine. It’s a cuisine that
differs from others, according to Adrià, in that
“it demands psychological reflection”. In other
words, you don’t come to El Bulli for a feed,
you come for an experience.
With an approach to food as avant-garde as
Adrià’s, it’s understandable that so much that
is written about El Bulli centres on the kitchen.
But food, as in any other restaurant, is just
one part of the equation. The contribution the
front-of-house team makes to the success
of El Bulli is immense. You won’t find better
service than this anywhere in the world. The
staff are absolutely top-notch, professional,
knowledgeable, charming and, in an
environment in which you’re being presented
with food the likes of which you’ll never have
seen before, they put you instantly at ease.

POS CHANGE RESTAURANT COUNTRY And then there’s the location. A small bay on
1 = El Bulli Spain the Costa Brava, with wooded hills all around.
2 = The Fat Duck UK Scenery that thrills the senses almost as much
3 = Pierre Gagnaire France as the food does.
4 up 4 Mugaritz Spain
With such ingredients, it’s small wonder that
5 down 1 The French Laundry USA
6 up 3 Per Se USA
El Bulli remains number one. The question is:
7 down 1 Bras France can anyone topple it?
8 up 2 Arzak Spain
El Bulli
9 down 4 Tetsuya’s Australia
Apartado 30,
10 up 5 Noma Denmark
17480 Roses en Cala Montjol, Spain
11 up 10 L’Astrance France
+34 97215 04 57 (after 3pm during the season)
12 = Gambero Rosso Italy
13 up 11 Restaurant Gordon Ramsay UK www.elbulli.com
14 down 1 L’Atelier de Joël Robuchon France
15 down 7 Le Louis XV Monaco
16 up 18 St John UK NO.2 – THE FAT DUCK that dates back to 1710, made by whisking
17 up 1 Jean Georges USA
He’s been called a magician, scientist, artist, a strong wine like claret or port with sugar
18 up 2 Alain Ducasse au Plaza Athénée France
culinary alchemist and a gastronomic messiah and chocolate, and Flaming Sorbet; ice cold
19 = Hakkasan UK
- there’s no doubt that Heston Blumenthal and sorbet served on a leather plate surrounded
20 up 6 Le Bernardin USA
21 up 15 Alinea USA his creations served at The Fat Duck capture by flames.
22 up 6 Le Gavroche UK the imagination. When classic dishes like Snail
At the time of going to press, Blumenthal
23 up 8 Dal Pescatore Italy Porridge and Egg and Bacon Ice Cream made
was nominated for a BAFTA for his BBC2
24 up 5 Le Cinq France headlines in the early 2000s, his fate for media
series Heston Blumenthal Further Adventures
25 = Troisgros France stardom was sealed. Three Michelin stars for
In Search of Perfection, which saw him
26 down 15 El Celler de Can Roca Spain The Fat Duck were to follow, along with an
revolutionising some of the nation’s most
27 re -entry Restaurant de l’Hôtel de Ville Switzerland OBE, an Honorary Doctorate, award-winning
28 down 14 Hof Van Cleve Belgium favourite dishes.
books and more recently the BBC TV series In
29 down 2 Martín Berasategui Spain Also watch out for The Big Fat Duck Cookbook,
Search of Perfection.
30 down 13 Nobu London UK
which will be published this autumn by
31 down 9 Can Fabes Spain With attention-grabbing dishes from The Fat
Bloomsbury. Not so much a cookbook, it’s
32 up 9 Enoteca Pinchiorri Italy Duck’s legendary Tasting Menu tending to
Blumenthal’s biography, along with recipes
33 re-entry Le Meurice France steal the limelight, it’s easy to forget that the
34 new Vendôme Germany
of classic dishes and the people he’s met and
restaurant is a fine-dining establishment which
35 re-entry Die Schwarzwaldstube Germany been inspired by along the way, including the
also offers a traditional à la carte menu and
36 down 20 Le Calandre Italy taste technicians, scent specialists, historians,
where service is of the upmost importance.
37 up 3 Chez Panisse USA psychologists and
38 down 8 Charlie Trotter’s USA The restaurant is also a showcase for fellow chefs.
39 down 4 Chez Dominique Finland Blumenthal’s passion for exploring multi-
The Fat Duck,
40 down 2 DOM Brazil sensory dining, and the effects of smell,
41 down 9 Daniel USA High Street, Bray,
taste and texture and sound on the palate,
42 up 3 Oud Sluis Netherlands Berkshire,
senses, memory and emotions. Inspired
43 down 1 Cracco Peck Italy SL6 2AQ, England
by his research with food historians, new
44 new Asador Etxebarri Spain +44 (0)1628
dishes will be launched this spring in a bid
45 up 5 Les Ambassadeurs France 580333
to re-introduce dishes from the British past -
46 down 3 L’Arpège France www.fatduck.co.uk
47 re-entry Tantris Germany
albeit with his trademark modern twist. These
48 down 9 Oaxen Skärgärdskrog Sweden include Chocolate Wine; a velvety-frothy drink
49 down 16 Rockpool (Fish) Australia
50 down 3 Le Quartier Français South Africa © The S.Pellegrino World’s 50 Best Restaurants www.worlds50best.com
.003&"
53*0.1)&
Chronographe Automatique Suisse Ø 44 MM ● Compteurs des sec/h/min à 3-6-9h - Date à 4h30 ● Etanche à 100 mètres ● Couronne
vissée avec insertion logo et poussoirs caoutchouc ● Cadran en fibre carbone ● Lunette or rose 18K - Boîte acier PVD noir ● Verre
et fond à vis transparents saphir ● Cornes anglées sport-chic satiné-polies ● Bracelet maille MOOREA 2 rangs, caoutchouc et grains
or rose massifs ● Fermoir double boucle papillon

www.pequignet.com
IN_vogue

Even in the midst of one of the world’s worst financial crises

the desire for highly secure, private and perfectly serviced
homes with views across fish rich lagoons and brilliant seas
is an alluring investment. They are holiday homes to some,
and primary or secondary homes to others.

IN_MAGAZINE
BY GABI WOOLGAR 43

Welcome to the world of the spectacular resort-run
private residences, complete with access to all of
the facilities you would expect at a Four Seasons or
Amanpuri hotel.
Private resort villas are an emotional personal
purchase and so remain a more insulated residential
market. From the Seychelles, to Bali, from Barbados
to Bora Bora, leading architects in concert with
some of the most luxurious hotel brands are creating
mouth-watering homes. It appears that location,
accessibility, design and the hotel’s star count are
probably slightly more important than price as might
be suspected, private residences run by five or six
star groups don’t come with discounts! Though as
demand softens and the credit crunch bites ever
deeper into the potential buyers wealth, developers
may have to take a more flexible stance.
In the Caribbean, the Lloyd Webbers have recently
taken two adjacent Four Seasons’ villas, acquiring
neighbours such as Simon Cowell, motor racing’s
Eddie Jordan and retail magnate Philip Green.
Robin Paterson of exclusive resort developers
Cinnamon 88, based in Barbados and responsible
for the Four Season’s complex at Clearwater Bay, is
not surprised by the popularity of the new trend
among such a select group.
IN_MAGAZINE
“In the past, the Caribbean just couldn’t offer the
same level of impeccable service or security that
you might find in places like Bali,” he says. “However,
that extraordinarily high standard is now becoming
available here too. Training is critical. They recruit
locals through a rigorous interview process and
emphasise the need for the right attitude and
an abundance of energy rather than experience.
They actually prefer those who have never worked
in the sector before and imbue them with the Four
Seasons ethos.”
On the other side of the world, the Asian sector of this
The practical advantages of owning a Four Seasons new success story is equally impressive. Sparked by
private residence compared to, say, a private villa the innovative Amanpuri-style of hotels in the 80s,
on the beach, are found in areas such as staffing. the new brand of villa resort has really taken off in
With a standalone villa, you would have to typically locations such as Phuket and Bali.
pay up to $700,000 a year for your full time staff. At
The Asian resort market started with Amanpuri
the resort villa, you only draw on staff when you are
Phuket, where investors wanted a private villa in a top
in occupation, so there’s a huge saving to be made
quality and exotic resort. Increasingly there has been
there. Security is also a major issue – being part of a
a demand among clients in their late 20s and 30s to
resort gives a level of security that’s just not possible
buy something long-term and unique, where they
on an individual property.
could plug into a different culture and owning a resort
The first phase of Cinnamon 88’s development on villa is an acknowledgement that they have joined
Barbados will be ready in July 2009 and Patterson is an exclusive group of individualists
already looking to new projects and other locations:
Since those early days, we have witnessed a
“Grenada is one island which we are looking forward
strong surge in Phuket’s land and villa prices.
to developing – it has a small population and a
Typically project values have doubled from launch
beautiful virgin rain forest. Then there’s also Pearl
to completion and whilst resales are limited, there
Island, off Panama, that we’re really interested in.”
have been instances of a four fold increase in built
Such resorts in this part of the world are proliferating villas prices’ and a ten fold increase in land prices.
though the pace is a little more cautious now. In However, Phuket is probably still less than a third of
the medium term as the world economies return to the cost of established Mediterranean or American
healthy sustainable growth the demand will increase coastal properties, though with the falls in the stock
and we will see beaches in Brazil and other parts of markets we will have to see what happens to prices.
South America begin sprouting elegant and ever Exclusivity was and is still the key – clients don’t want
so slightly self-indulgent six star villa resorts for the to share the view from their property with others.
rich, the famous and the very lucky.

Investing in properties in accessible places like
Phuket has proved an inspired choice, matched
by another of the country’s popular islands, Koh
Samui, the tear-dropped shaped island that regularly
welcomes the international jet set. Thailand quite
simply offers a level of service, luxury, personal safety
and a real quality of life that is hard to beat.
What, then, makes clients decide to buy a second
home from home, instead of opting for a top-end
resort or hotel? It’s all about a lifestyle choice.
Once people know a place and form a strong bond
there they want to own a piece of their selected
paradise. It’s an emotional decision. The low density,
high end residences must be private, but they
must also not be so remote that should the owner
want to throw a party for 100 guests, he can easily
organise catering and staff from somewhere like
the Banyan Tree.
Fortunately the emotional decision has been
supported by the economics and most buyers have
made a good return on their money.
In Indonesia, the factors in buying a resort property
are subtly different.
The most important question is the land title. Can
they legally own it? In Indonesia, foreigners can set
up a 100% foreign owned entity, and this entity can
then legally own the land in a form of HGB (Hak
Guna Bangunan), which is the highest land title one
can own.
Other questions new residents ask are; can they rent
out the property? Does an international hotel chain
professionally manage the resort? And will they be
able to enjoy any capital gains? The answer to all of
the above is ‘yes’.
Most clients also want hassle-free ownership – which
means that once they’ve bought the villa, they do
not wish to be bothered further by day-to-day
minutiae. This means that most of their outgoing
expenses, sometimes including the mortgage, could
be covered by their rental income. They want a worry-
free investment, which exists in Bali, for instance.
45
Like the situation in Thailand, investors in Indonesia
also appear to be in the resort villa ownership game
for the long term. A factor when it comes to choice
of location unsurprisingly is the weather. Many
investors are escaping harsh winters, such as in
Russia or China, and long to spend time in a place
where the sun is guaranteed. The tropics offer such
a promise, although it’s important to remember
that there is a definite seasonality to the region with
heavy rains a regular feature during some months
of the year. New markets are beginning to emerge
with up and coming developments in Vietnam and
Cambodia, while the Philippines, with its volatile
political situation, remains a largely internal market.
Thailand, in contrast, continues to be a firm favourite.
It’s a country that’s seen as welcoming, with an
ancient culture, wonderful food and friendly, helpful
people. In contrast, Malaysia, which is its physical
equal, has a similar climate, beaches and great
food, but doesn’t quite deliver the same level of
service or ‘sizzle’ that Thailand does.
Two new resorts with that requisite ‘sizzle’ are the
Jumeirah Phuket Private Island and the Yamu, both
on the east coast of the island. The Four Seasons,
Park Hyatt and TAJ groups are also not far behind
in developing their own super luxurious resort villa
offerings in the region. In Koh Samui, W Koh Samui
Retreat & Residences is also setting a new benchmark
of luxury for the Thai resort markets. It is the island’s
next big leap forward in branded residences.
Thoughtfully designed and inspired by a Tropical Zen
architectural style, these three to five bedroom villas
are hitting all the right emotional buttons.
So whether you fancy dipping your toes in the azure
seas of the Caribbean, or enjoying the legendary
cuisine and service of the Far East, there will soon be
a resort villa to suit all tastes.
 IN_finance

NAVIGATING
THE CREDIT
CRUNCHWHAT IS THE STATE OF THE In this age of subprime, distressed mortgages and
credit crunches, it is important to steer the right path

PROPERTY MARKET AND HOW when buying property. Beyond the jargon and the
sensationalist headlines, just what is the current

TO GET THE BEST VALUE IN state of the property market and which are the key
factors that can offer the best indication the market

THESE TIMES OF TURMOIL is set to turn?

According to experts, the global property markets

BY HUGO GREENHALGH are expected to falter throughout 2009. House
prices may have plummeted last year, but further
falls are expected for at least another six months.

However, there may some an element of respite.

With credit crunch pain for many come opportunities
for the lucky cash-rich few to pick up some excellent

IN_MAGAZINE
bargains. Reports abound of more properties than
ever before flooding on to the markets of Verbier, the
Riviera, Tuscany and the Caribbean.
People who would not normally be able to afford
a second home are finding the radically reduced
property valuations a positive boon. With many
houses in the Caribbean having dropped by half
a million dollars, suddenly funding a bolthole in
St Barts has become far more realistic.
Most agree the credit crunch first started at the
end of July 2007, but it has its roots in economic
decisions several years previously. The main culprit,
according to many analysts, is former chairman of
the US Federal Reserve Alan Greenspan. After the
dot.com boom in the late nineties became the dot.
bomb of the early noughties, Greenspan moved to
slash interest rates and wash the markets with cheap
money to stimulate the economy. It worked. Millions
of Americans who previously did not have access
to credit embarked on a mammoth spending spree,
racking up personal debt and taking out what were
called subprime mortgages. These basically were
mortgages sold to poor people who were at risk of
default. And, when the credit crunch hit home and
the banks started to call in their loans, default they
did. In their millions.
What was a small localised problem became
globalised as the banks had packaged up this risky
subprime debt and sold it on to banks around the
world as collateralised debt obligations (CDOs).
Little slivers of bad debt circled the world – infecting
all those who had foolishly rushed into this new,
innovative investment.
Banks have crashed, unemployment has risen,
the bottom has fallen out of property markets
around the world and now we find ourselves almost
18 months into the crisis.
This has left one simple question for those still in the
market to buy property: what are the main indicators
to watch to see signs of a recovery?
It’s a good question: many have miscalled the
bottom of the market. US Treasury Secretary Henry
Paulson, who really should have known better, said
in April 2007: “The housing market is at or near the
bottom.” Not quite, Henry.
So are we there yet? In the UK, for example, the
Royal Institute of Chartered Surveyors believes the
residential market will go down by an additional
10-15 per cent over the course of 2009, but that
an upturn is expected to kick in sometime over the
summer. Another key indicator is the UK’s Land
Registry, which details house price movements.
Its last figures for November reveal they dropped
by a further 1.9 per cent, the 15th consecutive
monthly fall.
Dubai, previously a property hot-spot, has also
been affected. Villas in Jumeirah Park and Jumeirah
Islands, part of Nakheel’s exclusive resorts, have
seen the offering price shaved by as much as
45 per cent in the last four months. On the Islands
development, an upmarket residential area built
on several man-made islands near the Emirates
Golf Club, upmarket villas have now fallen from
Dh12m (£2.2m) to Dh9m.
China has fared no better. The country is never easy
for property buyers at the best of times – and these
really are not those. Property prices in most major
cities have nosedived by about 25 per cent and in
Shenzhen real estate prices have dropped by an
average of 40 per cent since the beginning of 2008.
Even the Hamptons, America’s playground of the
super-rich, is feeling the pinch. Hit by the turmoil on
Wall Street, the hedge fund managers are selling
WITH ALL THIS IN MIND, THE 47
SOLUTION IS AS SIMPLE AS IT
IS ELEGANT: AS THE MARKET
COULD BE SET TO IMPROVE
DRAMATICALLY LATER IN THE
YEAR, POTENTIAL BUYERS
NEED TO KEEP BOTH EYES
KEENLY TRAINED ON THE
MAIN COUNTRY INDICATORS.
up and getting out. Joseph Gregory, former head
of failed investment bank Lehman Brothers, put his
Bridgehampton mansion on the market just weeks
after he was ousted for $32.5m – unfortunately yet
another bad investment decision. Real estate prices
have fallen just over 11 per cent in the third quarter
alone last year.
And to compound matters, rental prices, which
can stretch from as little as $12,000 to hit as high
as $1m for the season, are not moving – suggesting
potential buyers are deciding to rent instead. The
key indicators for potential buyers are the Case-
Shiller Home Price indices, which detail nominal
house prices in the US. According to the latest
figures, house prices are back to levels last seen in
March 2004.
Russia, thankfully, does offer some respite. There
will be a correction in the markets, but many argue
that while it is likely to be short-term sharp, for long-
term buyers it should be long-term sweet.
The luxury market, in particular, is likely to remain
strong. Figures from Knight Frank in Moscow
reveal the luxury residential market in Moscow grew
strongly in the first eight months of 2008 – and more
growth is yet to come. Any discounts available now
should prove beneficial come the market recovery -
expected towards the latter half of 2009.
With all this in mind, the solution is as simple as it
is elegant: as the market could be set to improve
dramatically later in the year, potential buyers
need to keep both eyes keenly trained on the main
country indicators. Who knows if it is too early to
call the bottom of the market, but property, like
equity, is an inexact science. Key to any potential
buyer of property at the moment is the ability to
take a small short-term hit on the price in the
knowledge that once the property market turns,
its recovery – starting from a very low basis – is likely
to be explosive.
HUGO GREENHALGH IS THE EDITOR OF THE
FINANCIAL TIMES’S INVESTMENT ADVISER.
EXQUISITE
PROPERTIES
JONATHAN SEAL, EXECUTIVE
DIRECTOR OF CB RICHARD ELLIS
INTRODUCES A SELECTION OF
PROPERTIES BEING HANDLED BY
OFFICES AROUND THE WORLD.
The global financial crisis can be felt sweeping Over the next few pages we will demonstrate our
through all sectors of the economy. This turbulence breadth of truly inspirational properties in some of the
compels the potential property investor to seek best locations around the world.
out trusted, established businesses that have a
By contacting us we will delight you with our
worldwide team of exceptional people. Experts
refreshing, personable, and professional approach
who are accessed locally; who have the maturity,
to advisory services from our worldwide team of local
experience and passion to offer rational property
property experts.
advice and understand that today’s sophisticated
customer and their families are seeking a complete I look forward to your call. In the meantime, we hope
service that goes beyond the normal standards you enjoy the selection we have made for you.
found in the property business.

There are few companies with the experience, scale

and knowledge to understand the global prime
residential marketplace and deliver exceptional
service to high net worth individuals
CB Richard Ellis is one. We have created a
sophisticated, global property advice service
with our own experts on the ground in every major
market in the world – from the Pacifc Rim to South
America. Many of these are regarded as leading
local authorities. And we have the expertise to
handle every step of any prime property transaction,
however large or complex; wherever our clients are
in the world.
Jonathan runs CBRE’s Global Residential Business
and he is responsible for heading up a global
network that provides comprehensive services
across every step of the development process.
Formally MD of Hamptons Residential Development
and International, he has over 25 years experience
working in residential property across Central
London, Europe and the Far East and is now widely
recognised as one of the UK Property Industry’s
leading figures.

IN_MAGAZINE
EXQUISITE 49
PROPERTIES

HONG KONG The development will provide 825 luxury units Also located in the Cullinan II tower is The
WEST KOWLOON arranging from approximately 900 to 2,300 square Harbourview Place, the luxury suite hotel offering 266
THE CULLINAN feet. Two triplex penthouses “Jewel of the Crown” of rooms, with a choice from studios to three-bedroom
over 4,000 square feet will be located on the 91st to suites, and a 3,720 square feet Premier Presidential
STANDING AT 270 METRES 93rd floors, boasting 6 bedrooms, with 3 or 4 en suite Suite.
IN HEIGHT, IS HONG KONG’S bathrooms, private swimming pools and gardens.
The Ritz-Carlton Hotel will be set on the top 16 floors
TALLEST RESIDENTIAL The Cullinan features the finest in architecture. It was of ICC and become the world’s tallest hotel. It will
APARTMENT BUILDING. ITS designed with extensive windows to take advantage soar above the city’s skyline and Victoria Harbour
TWO TOWERS – CULLINAN I of its prime waterfront location and spectacular when it opens in 2010, showcasing a blend of
AND CULLINAN II – ARE views of Victoria Harbour. The ultra-modern contemporary design and elegant comfort.
EXPECTED TO SET A NEW façade shines alongside the adjacent International
INTERNATIONAL BENCHMARK Commerce Centre (ICC), which will be the world’s
Together with a one-million-square-foot flagship
FOR LUXURY RESIDENCES. third tallest building.
mall, Elements, The Cullinan development will offer
a most discerning living standard that is giving a new
ICC, at 490 metres with a total of 118 stories, will definition to world-class residence.
provide 2.5-million square feet of prime office space.
It has swiftly attracted renowned tenants from
around the globe, including Credit Suisse, Deutsche
Bank and Morgan Stanley to have their regional
For further information please contact
headquarters based at ICC.
Rebecca Shum:
W Hong Kong, opening for the first time in Hong rebecca.shum@cbre.com.hk
Kong, takes up 25 floors of Cullinan II, with
393 luxurious guest rooms, offering sweeping
harbour views, exciting dining, nightlife and
entertainment options including a dazzling roof top
pool and relaxation area, a major spa and more.
EXQUISITE
PROPERTIES

THAILAND Each of its hotels offers a unique mix of innovative Thoughtfully designed and inspired by a tropical
KOH SAMUI design, comfort, and cultural influences ranging from Zen-style of architecture, these cutting edge 3 to
W KOH SAMUI fashion to music and art and everything in between. 5 bedroom homes hit all the right buzz points,
Jointly developed by Amburaya Hotels & Resorts whether it is the design, interaction of space,
W KOH SAMUI IS THE NEXT and a Dubai-based investor, Nakheel, W Koh Samui privacy, poolside living or the spectacular sea views
BIG LEAP FORWARD IN THE Retreat & Residences has already attracted signifi- from the living area and master bedroom. Every
BRANDED RESIDENCE cant buyer interests during its pre-launch phase. aspect has been considered to create individual
MARKET IN SAMUI. THE Conveniently located just 20 minutes from Samui
estates within Samui’s top-end resort. The added
DEVELOPMENT OFFERS A International Airport and located on a 65-rai-
lifestyle benefits such as the 24-hour concierge
COLLECTION OF 17 PRIVATE headland site between Maenam and Bophut on the
services and access to W Retreat’s facilities,
RESIDENCES SET WITHIN THE northern coast of Samui, the site is truly unique with
including the Beach Club, are offered to complete
75-KEY W RETREAT. W HAS a 270-degree view looking out towards Koh Pha
the luxury resort lifestyle.
BECOME THE FASTEST Ngan and the Gulf of Thailand.
GROWING LUXURY HOTEL
BRAND IN THE WORLD. Such a prime location is considered a scarce
commodity even in Samui where the degree of
For further information please contact
development is less extensive than Phuket. In
David Simister:
Phuket, the opportunity to purchase such a prime
david.simister@cbre.co.th
property no longer exists.

IN_MAGAZINE
EXQUISITE 51
PROPERTIES

SINGAPORE Marina Bay Suites is developed by a joint venture of The local area offers a variety of lifestyle options
MARINA BAY three of Asia’s leading property developers – Cheung including high-end retailing within the Financial
MARINA BAY SUITES Kong (Holdings)/Hutchison Whampoa, Hongkong Centre itself, Marina Bay Sands and Esplanade
Land and Keppel Land. Towering at 66 storeys, Theatres at the Bay, Gardens by the Bay and even
MARINA BAY SUITES each of the 221 apartments forming Marina Bay Formula 1 Grand Prix racing. With its generous sizing
STANDS AT THE TIP OF Suites comes with its own private lift lobby and and limited future availability of apartments in this
MARINA BAY – SINGAPORE’S striking bay views. locality, Marina Bay Suites has earned international
NEW FINANCIAL DISTRICT. There are just four apartments of 1,600 to 2,700
acclaim as investors seek to own a slice of its
DESIGNED BY RENOWNED square feet per floor, including one single-level
luxurious lifestyle and growth story.
NEW YORK-BASED penthouse and two duplex penthouses, each with its
ARCHITECTS KOHN own swimming pool. All apartments are fitted with an
PEDERSEN FOX (KPF), elegant combination of Miele kitchen appliances
MARINA BAY IS A and quality fittings from Steinberg, Reginox and For further information please contact
360-HECTARE DEVELOPMENT Laufen. Sky lounges located at levels 27 and 46 offer Pauline Goh:
THAT BLENDS SEAMLESSLY yoga and massage terraces that are completed pauline.goh@cbre.com.sg
INTO THE EXISTING with earthy natural materials and water features.
FINANCIAL DISTRICT.
EXQUISITE
PROPERTIES

CHINA ACCREDITED AS THE NO.1 The twelve 18-holes golf courses are designed
SHENZHEN GOLF CLUB BY GUINNESS by twelve world-renowned golf legends, such as
MISSION HILLS IN RESIDENCE WORLD RECORDS, MISSION Greg Norman, Annika Sorenstam, David Leadbetter,
HILLS IS THE WORLD’S NO.1 Jose Maria Olazabal, David Duval, Nick Faldo,
GOLF CLUB. WITHIN ONE- Jack Nicklaus, Ernie Els, Vijay Singh, Jumbo Ozaki,
HOUR DRIVE TO AND FROM Pete Dye and Zhang Lian Wei. Mission Hills Golf
HONG KONG. Club of China is currently the largest and the most
comprehensive golf resort in the world with its
216 holes. It is an international golf community
that combines golfing with relaxation, business
and lifestyle.

Mission Hills Golf Villas & Residences ranging from

7,500 square feet to 16,000 square feet, exclusive
of private garden area of over 32,000 square feet,
are available for private ownership. Signature golf
mansions offer its residents exclusive Diamond
memberships and privileges, sought-after by the most
coveted investors.

For further information please contact

Rebecca Shum:
rebecca.shum@cbre.com.hk

INDONESIA INTERCONTINENTAL BALI SANUR BEACH RESORT IS TRUE TO

BALI THE NOTION OF SHAMBALA, THE HEAVENLY BEAUTY SET ON
INTERCONTINENTAL BALI THE ISLAND OF GOD, CREATED TO OFFER TRULY AUTHENTIC
SANUR BEACH RESORT AND ENRICHING BALINESE EXPERIENCES.
Located within 15 minutes of the airport and set in
the white sandy beach enclave in the highly sought-
after old money area, this exclusive 7-hectare
development boasts nearly 350 metres of prime
beachfront.

Award-winning architects, eco-id, creators of the

renowned W Retreat and Spa, Maldives amongst
others and interior designers of Hadiprana (concept
designers of Bvlgari Resort, Bali) have teamed up
to create these 54 fully furnished villa residences
and a 100 suites of this boutique hotel.

Modern luxury combines with traditional Balinese

charm to give the villa residences unique ambiance
and character. There is a strong focus on privacy
and personalised service, allowing staff to enter and
leave discreetly. Each villa is provided with generous
deck space, a private pool, underwater seating,
outdoor showers and landscaped gardens.

For further information please contact

Steven Tjen:
steven.tjen@cbre.co.id

IN_MAGAZINE
EXQUISITE 53
PROPERTIES

VIETNAM
HOI AN
MONTGOMERIE LINKS

MONTGOMERIE LINKS HAS

BEEN BUILT WITHIN THE
STUNNING LANDSCAPE OF
VIETNAM’S FIRST COLIN
MONTGOMERIE-DESIGNED
GOLF COURSE, RAISING THE
BENCHMARK FOR LUXURY
LIVING IN THE REGION.

Located just 10 minutes from the UNESCO-listed

heritage village of Hoi An and along the world-famous
China Beach stretch, all 54 villas share a view of the
enchanting Marble Mountains. Each leads directly
onto the 18-hole golf course, to which residents are
also afforded membership.

Drawing on the surrounding environment for
inspiration, the villas blend seamlessly with the
tropical beachscape and mountainous backdrop.
The two-storey apartments range from 276 to
395 square metres and have American-influenced
bathrooms, carports and landscaped gardens, all
built within a gated secure community environment.
The resort boasts a spacious outdoor entertainment
area and an infinity pool.
For further information please contact
It is no exaggeration that the living experience at
Marc Townsend:
Montgomerie Links Estates will go far beyond that
marc.townsend@cbre.com
of residency or investment – it is the very definition of
a luxury lifestyle.

PHILIPPINES RAFFLES RESIDENCES IN MANILA IS A UNIQUE BRANDED

MANILA RESIDENCE CONCEPT, UNLIKE ANYTHING ELSE IN THE CITY;
RAFFLES RESIDENCES MAKATI POISED TO BECOME THE PREMIER ADDRESS IN MANILA.

The 30-suite Raffles Hotel and 236-residence

development will be the first significant luxury
branded residence in Makati.

Makati’s skyline is one of the most impressive sights

in Metro Manila, boasting many of the country’s tallest
skyscrapers. These exclusive residences will offer
exceptional views of either Manila or Laguna Bay
along with glittering vistas of the city.

To complement the legendary Raffles brand of hotels

and resorts, Raffles has embraced the rapidly
evolving luxury residential real estate market to offer
private residences, magnificent in every detail, with
that special ambiance drawn from the inimitable
Raffles style. Raffles Residences will feature one,
two, three and four bedroom homes, along with an
elite selection of penthouse residences, all with
breath taking views of the city.

Kingdom Hotel Investments, an accomplished

residential real estate developer and a leading
hotel acquisition and development company, are
creating the resort.

For further information please contact

Rebecca Shum:
rebecca.shum@cbre.com.hk
EXQUISITE
PROPERTIES

AUSTRALIA Designed by architects PTW, the Elizabeth brings the The Elizabeth enjoys a number of benefits as a result
SYDNEY city, in all its finery, right into the heart of each private of its proximity to the Sheraton on the Park Hotel.
THE ELIZABETH residence. Each apartment is accessed by its own Residents can enjoy a five-star service, with access
private lift. Dramatic floor-to-ceiling windows reveal to valet parking, visitor car parking, concierge service,
THE ELIZABETH IS A a luxurious interior, conceived by Freedman Rembel the health club and beauty spa, catering, room
COLLECTION OF SEVEN OF and offering a perfectly appointed kitchen and service and a conference centre.
THE LARGEST AND MOST master bedroom with bathroom above an extensive
In the Elizabeth, Sydney has gained a building
LUXURIOUS RESIDENCES living area, with custom made furniture, designed
reminiscent of the grandeur and elegance of the
IN SYDNEY, BOASTING to suit the most fastidious of residents.
great apartment houses of London, New York and
MAJESTIC VIEWS OVER THE Through a quartet of fixed and sliding glass doors Paris, while encompassing all of the contemporary
CITY’S FAMOUS HYDE PARK. the winter garden completes the apartment’s qualities of modern living.
LOCATED ADJACENT TO northwestern extremity. This light-filled outdoor room
THE PRESTIGIOUS SHERATON is faced with magnificent glass louvers, which may
ON THE PARK HOTEL, THE be opened or closed depending on the season.
ELIZABETH IS ONE OF ONLY A
FEW EXCLUSIVE APARTMENT For further information please contact
BLOCKS TO JOIN THE CITY Justin Brown:
SKYLINE IN OVER A justin.brown@cbre.com.au
HUNDRED YEARS.

IN_MAGAZINE
EXQUISITE 55
PROPERTIES

FRANCE
MARSEILLES
RUE DE LA RÉPUBLIQUE

RUE DE LA RÉPUBLIQUE, IS
LOCATED AT THE HEART OF
MARSEILLES. AS FRANCE’S
SECOND LARGEST CITY AND
ONE OF ITS OLDEST REGIONS,
MARSEILLES IS STEEPED
IN HISTORY. THIS STYLISH
RESIDENTIAL DEVELOPMENT
CAN BE FOUND ON THE
PICTURESQUE RUE DE
LA RÉPUBLIQUE. THIS
INNOVATIVE PROJECT
INVOLVED ONE OF THE
LARGEST REDEVELOPMENTS
OF ONE OF THE OLDEST
REGIONS IN EUROPE.
Now widely recognised as Marseilles’ centre for metres. Each is finished to an extremely high standard Positioned within easy reach of the Mediterranean,
luxury retail, Rue de La République boasts 60,000 with quality fixtures including parquet flooring in residents can also enjoy stunning views over the sea
square metres of shops. The tree-lined street at the living rooms, hall and bedrooms, videophone entry and across the hills, back down to the creeks.
heart of Marseilles République is fast becoming one systems and well-equipped kitchens with bespoke
of the city’s most prestigious addresses. Italian appliances.

This unique five-storey building comprises 80
exclusive apartments. Each has been sympathetically
renovated and the expansive floor-to-ceiling height
is reflective of the 19th Century Haussmann-style
architecture of the region. The accommodation varies
from one-bedroom studios to six bedroom duplex
apartments, with areas ranging from 22 to 145 square
A programme of upgrades to the existing tram
system has vastly improved access to the region For further information please contact
and has created a closer link with the Joliette harbour Peter Vines:
at the end of the street. Le Quai region overlooking peter.vines@cbre.com
the harbour houses the most beautiful examples of
Haussmann’s renowned architecture.

SPAIN
VIGO
CASTILLO BIENÉS

CASTILLO BIENÉS IS AN
EXCLUSIVE PROPERTY
LOCATED IN THE NORTH OF
THE PROVINCE OF HUESCA,
WITHIN THE MUNICIPALITY OF
MANCOMUNIDAD DE BERDÚN.
LOCATED BETWEEN MADRID With its four towers rising up above a terrace, this The castle is surrounded by 200 square metres of
AND BARCELONA, HUESCA IS imposing castle overlooks the basin of the river Veral baroque gardens.
A MAGNIFICENT LANDSCAPE and the valley of the river Aragón. This strategic
IN THE PYRENEES. location leads into the Valle de Ansó, one of the most
significant valleys in the Pyrenees.
For further information please contact
The main building is a typical sixteenth century
Javier Reque:
castle-palace, with a total surface of 900 square
javier.reque@cbre.com
metres. It has 5 double bedrooms and 3 bathrooms.
EXQUISITE
PROPERTIES

BALEARIC ISLANDS
MAJORCA
LA FORTALEZA

LA FORTALEZA IS ARGUABLY
ONE OF THE MOST EXCLUSIVE
RESIDENTIAL OPPORTUNITIES
IN EUROPE. THIS PRIME
RESIDENTIAL DEVELOPMENT
IS LOCATED IN POLLENÇA BAY
ON EUROPE’S HIGHLY SOUGHT
AFTER MEDITERRANEAN
ISLAND, MAJORCA.

This unique fortress was built in 1628 to defend the

Pollensa peninsula from the Saracens. It is formed of
a 17th Century castle and six additional buildings,
making up a total built surface area of 2,000 square
metres. The three-storey castle boasts 6 bedrooms,
5 bathrooms, two living rooms and a kitchen as well
as a library overlooking the gardens.
The additional buildings range from 80 to 200 square
metres in size, each with a private garden and
spectacular views.
La Fortaleza sits within 90,000 square metres of land,
offering panoramic views across the Mediterranean
Sea. Its secluded location at the north of the island For further information please contact
provides residents with 15,360 square feet of terraces Javier Reque:
and 11,840 square feet of gardens landscaped with javier.reque@cbre.com
palm trees, olive trees and umbrella pines. The site
also offers 2 swimming pools and exclusive access
via a dedicated helipad.

MOROCCO ANFAPLACE IS LOCATED ON LA CORNICHE BOULEVARD,

CASABLANCA ALONG THE OCEANFRONT, JUST MINUTES AWAY FROM
ANFAPLACE DOWNTOWN CASABLANCA. DESIGNED BY PRESTIGIOUS
ARCHITECTS, FOSTER AND PARTNERS, THE AVANT-GARDES
DESIGN PERSONIFIES THE HIGHEST STANDARDS OF QUALITY.
The accommodation includes 260 luxurious
apartments of one, two, three and four bedrooms, all
with fully fitted kitchens and 24 hour security.

This mixed use development also incorporates a

luxurious 235 room hotel, 104 serviced apartments,
offices, a beach club, a financial club and a shopping
centre which is expected to become Casablanca’s
most famous retail complex.

For further information please contact

Meryem Chami:
meryem.chami@cbre.com

IN_MAGAZINE
EXQUISITE 57
PROPERTIES

PORTUGAL
DOURO
DOURO 41

DOURO 41 IS AN INNOVATIVE
RESIDENTIAL DEVELOPMENT
NESTLED WITHIN THE
STUNNING VALLEYS OF
THE DOURO REGION OF
NORTHERN PORTUGAL.

The River Douro is one of Europe’s most untouched

rivers, meandering through northern Portugal to the
ocean and Portugal’s second largest city of Porto.

Douro 41 can be found within 40 kilometres of Porto.
The mixed-use resort comprises a 4-star hotel with
42 bedrooms and suites, a marina and 25 one, two
and three bedroom apartments. The residential
accommodation ranges from 95.8 to 209.3 square
metres in size and each has a swimming pool and
a garage.
The development has been built into the landscape
and the apartments have been sympathetically
designed with grass growing on the roofs so they For further information please contact
blend seamlessly into their natural surroundings. José Macedo:
The resort appears to rise out of the hillside, jose.macedo@cbre.com
offering breathtaking views over the valley and the
marina below.

PORTUGAL SANTA CATARINA IS A PRIME RESIDENTIAL PROPERTY

SANTA CATARINA LOCATED IN THE HEART OF 18TH CENTURY LISBON,
SANTA CATARINA NESTLED BETWEEN THE HISTORICAL NEIGHBOURHOOD
OF BICA AND THE SANTOS VALLEY.
Next to the Chiado, on the hills of Santa Catarina, the
property has been lovingly restored to offer luxury,
contemporary living whilst preserving the architectural
beauty of the original façades. The two buildings
house 19 individual residences, ranging from one to
five bedrooms with views over the garden, the
swimming pool and the Santos valley.

The high ceilings, spacious patios and original

features of the doors and windows create interplay of
light that defines spaces and creates the illusion of
sunlight coming into the room.

Traditional materials have been used in this

sympathetic renovation with modern techniques
adopted to ensure maximum comfort. All apartments
have sound insulation and the buildings have been
fitted with centralised air conditioning and hot water
to ensure optimum energy savings.

For further information please contact

José Macedo:
jose.macedo@cbre.com
EXQUISITE
PROPERTIES

ROMANIA
BUCHAREST
LAGUNA RESIDENCE

LAGUNA RESIDENCE IS ONE

OF THE ROMANIA’S MOST
EXCLUSIVE RESIDENTIAL
PROJECTS, LOCATED AT
THE NORTHERN TIP OF THE
CAPITAL BUCHAREST, ON
THE SHORES OF THE TEI LAKE.

Also known as ‘Little Paris’, Bucharest’s elegant
architecture and rich cultural diversity take inspiration
from France’s thriving capital. Ideally located within
five minutes of the commercial centre,
Laguna Residence embraces the country’s Medi-
terranean influences.
Its 504 luxury apartments boast spacious terraces
and large windows with stunning views over the lake
and surrounding countryside. The private enclosure
offers extensive sports and leisure facilities and
ample parking, as well as housing a number of
complementary commercial premises. Sympathetic For further information please contact
to its natural surroundings, Laguna Residence Ionut Bordei:
ionut.bordei@cbre.com
benefits from the tranquillity of its lakeside position,
whilst enjoying excellent transport links and easy
access to the city centre.

ROMANIA BELLEVUE RESIDENCE IS ONE OF ROMANIA’S MOST

BRASOV EXCLUSIVE RESIDENTIAL DEVELOPMENTS, IDEALLY
BELLEVUE RESIDENCE LOCATED ON THE WARTHE HILL OVERLOOKING THE
CENTRE OF BRASOV IN ROMANIA.
Taking its name from its breathtaking views over
Brasov and Bârsa County, this luxurious residential
development benefits from an exclusive hilltop
position within easy reach of Romania’s enter-
tainment capital below.

The development offers exclusive living at an

affordable price. The nine buildings have been
sympathetically designed and built to complement
the tranquillity of their natural surroundings. The
concept was conceived with three basic elements
in mind: harmony, luxury and identity of personal
space, with the comfort and privacy of its residents
being of paramount importance.

These four and five storey buildings house two,

three and four bedroom apartments fitted to
an extremely high standard with wood flooring
and modern features throughout. Most of the
accommodation also benefits from a balcony
or terrace from which to take in the region’s
stunning scenery.

For further information please contact

Ionut Bordei:
ionut.bordei@cbre.com

IN_MAGAZINE
EXQUISITE 59
PROPERTIES

POLAND
WARSAW
RESTAURA PIĘKNA 44

IN ALL RESPECTS PIĘKNA 44

IS AN EXCEPTIONAL ADDRESS.
HIDDEN FROM THE CITY
NOISE, THE HISTORIC
COMPLEX AT PIĘKNA 44 IS
A PERFECT EXAMPLE OF THE
LEADING ARCHITECTURAL
AND CITY PLANNING TRENDS
IN THE LATE 19TH CENTURY.

By the city standards, the neoclassical town house at

Piękna 44 and Struve’s Villa with its surrounding
greenery form the most remarkable small-scale
urban development evoking a Warsaw which no
longer exists.
The direct neighbourhood of Piękna 44 encourages
discovering Warsaw history. An easy walk along
Piękna near Dolina Szwajcarska leads to the Royal
Tract with its parks, gardens and palaces. On the way
towards the Old Town you can stop by the concert
hall of the National Philharmonic.
The town house designed by Karol Kozłowski is
restored to the highest standards, bringing back
its late 19th century splendor. Every detail has
been reconstructed under the supervision of
outstanding architects, monument restorers, as well
as artists-craftsmen.
Historic architecture provides a beautiful backdrop
to a private period garden extended between the
town house and Struve’s Villa.
The Piękna 44 comprises 31 luxury apartments,
which boast the highest finishing standards. The
splendid tall interiors inspire creativity.
For further information please contact
Mikolaj Martynuska:
mikolaj.martynuska@cbre.com

POLAND RESTAURA GÓRSKIEGO IS LOCATED IN THE MOST

WARSAW PRESTIGIOUS PART OF WARSAW, JUST A STEP AWAY FROM
RESTAURA GÓRSKIEGO SOME OF THE CITY’S MOST LIVELY AND EXCITING STREETS –
MARSZAŁKOWSKA AND CHMIELNA. SOME OF WARSAW’S
MOST BEAUTIFUL SPOTS ARE WAITING TO BE EXPLORED –
The prestigious character of Restaura Górskiego is
THE STREETS OF NOWY ŚWIAT AND KRAKOWSKIE
highlighted in the project location. The building is
PRZEDMIEŚCIE, THE OLD TOWN AND SASKI PARK.
situated in a neighbourhood which has conserved
THE NEIGHBOURHOOD IS BRIMMING WITH CAPITAL’S
its central character for centuries.
ARCHITECTURAL HIGHLIGHTS SUCH AS: BRISTOL HOTEL,
It is a place in which modernity flirts with tradition. WARSAW PHILHARMONIC OR OSTROGSKI PALACE.
The neighbouring Art Nouveau buildings and Wedel
Chocolate Cafe are constant reminders of Warsaw’s
pre-war history and contribute wonderfully to the
area’s unique atmosphere.

For further information please contact

Mikolaj Martynuska:
mikolaj.martynuska@cbre.com
EXQUISITE
PROPERTIES

UK
NEWBURY
AVALON

AVALON IS MADE UP OF
THREE GRAND HALLS,
FORMING PART OF AN
EXQUISITE AWARD
WINNING REFURBISHMENT
OF A GROUP OF LISTED
BUILDINGS, FORMERLY
OCCUPIED DOUAI
ABBEY SCHOOL.

Located between Reading and Newbury, the

development is surrounded by stunning English
countryside, whilst also benefitting from easy access
to London and Heathrow via the M4.
The internal specification combines natural stone,
timber and glass with the original features, stone
mullion windows and dramatic 30 feet high ornate
ceilings. Scholars Hall provides 2,592 square feet of
large open plan living, incorporating a large kitchen/
dining area, with two bedroom suites.
At 3,621 square feet, Faculty Hall boasts four a lower cinema area.
bedrooms and four bathrooms and has a raised
dining area and kitchen in front of the original
fireplace, a large living area and a cinema area on the
ground floor. For further information please contact
Johnny Morris:
Lastly, the Old Refectory is the biggest of the halls,
johnny.morris@cbre.com
at 5,257 square feet, with four bedrooms, a raised
living/dining area, large kitchen, breakfast room and

UK FITZROVIA IS THE NEWEST RESIDENTIAL DEVELOPMENT

LONDON IN CENTRAL LONDON BY MANHATTAN LOFT CORPORATION
FITZROVIA AND RIDGEFORD PROPERTIES.
In collaboration with HOK International and Make
Architects, this prime development on Weymouth
Street, W1 will offer 66 exceptional apartments and
four luxury penthouses with spacious roof terraces.
The seven-storey building comprises a mixture of
one, two and three bedroom apartments, as well as
two luxury, four bedroom penthouses on the top
two levels.

As part of this project the Orthopedic Diagnostic

Centre is gaining excellent new facilities and there
will be a small office in a converted Grade II
listed building.

Each of the interior finishes has been designed

individually, taking into consideration practicality and
style and many of the apartments benefit from
balconies or roof terraces. Superior kitchens and
bathrooms will be fitted; the latter with under floor
heating, and wooden floors will flow throughout.

Fitzrovia represents the epitome of prime London

living in a highly sought after location in England’s
cosmopolitan capital city.

For further information please contact

Rory Cramer:
rory.cramer@cbre.com

IN_MAGAZINE
EXQUISITE 61
PROPERTIES

UK
SUNNINGDALE
CHARTERS

CHARTERS IS AN IMPOSING
1930’S COUNTRY HOUSE
AND ESTATE, CURRENTLY
BEING EXQUISITELY
RESTORED INTO A WORLD
CLASS COLLECTION OF
34 IMMACULATE TWO
AND THREE BEDROOM
APARTMENTS AND
PENTHOUSES.

Set amidst twenty acres of beautifully landscaped
gardens, this luxury residence near Ascot is the
latest project by renowned developers, Sabre
Developments.
With its hillside setting 250 feet above sea level
and commanding views over the Berkshire
countryside, Charters makes a naturally secluded
country residence, whilst being within 15 minutes’
drive of Sunningdale, Ascot and Windsor.
House have been purpose-designed, each with
14 two and three bedroom apartments, positioned
to take full advantage of the breathtaking views.
Each apartment has been carefully planned to create
the finest possible living areas, marrying today’s
technological demands with the timeless pursuit
of comfort and luxury.

The Mansion, an original Grade-2 listed building of

For further information please contact
1938, has been restored to showcase its original Art
Johnny Morris:
Deco grandeur. The building features six unusually
johnny.morris@cbre.com
spacious apartments on two floors and one
exceptionally large duplex. The Court and the Garden

UK
LONDON
THE LANCASTERS

THE LANCASTERS IS A
JOINT VENTURE BETWEEN
NORTHACRE PLC AND
MINERVA PLC, EXPECTED
TO SET NEW STANDARDS OF
PRIME RESIDENTIAL LIVING
IN LONDON’S WEST END.

This exclusive residential development offers a over the Cote D’Azur-inspired gardens. Beneath the
unique opportunity to acquire a luxury apartment building, there is exclusive access to two levels of
overlooking Hyde Park. underground parking and a spa leisure complex
with indoor swimming pool.
The refurbishment of this Grade II Listed premises
in a French Renaissance Terrace-style will create
approximately 192,000 square feet of residential
accommodation in the style of 77 imposing and
lateral duplex apartments. For further information please contact
James Swete:
From the comfort of their own private balconies,
james.swete@cbre.com
residents will be able to enjoy uninterrupted views
EXQUISITE
PROPERTIES

SEYCHELLES
RAFFLES
RAFFLES ESTATES PRASLIN

RAFFLES ESTATES IN THE

SEYCHELLES IS A
RESIDENTIAL PARADISE
CONSISTING OF 23
FREESTANDING VILLAS ON
SECLUDED LOTS ADJACENT
TO A SIGNATURE RAFFLES
RESORT. DESIGNED TO
MAXIMIZE THE STUNNING
VIEWS OF THE INDIAN OCEAN
WITH LARGE WINDOWS AND
EXPANSIVE VERANDAS, Praslin is the second largest island in the Seychelles impassioned to enjoy the privileges of a Raffles
THESE GENEROUSLY and the site of the fabulous Vallée de Mai, one of lifestyle with full private ownership.
APPORTIONED VILLAS WILL Seychelles´s two UNESCO World Heritage Sites. The
RANGE IN SIZE FROM THREE island features truly exquisite beaches such as Anse
Kingdom Hotel Investments, an accomplished
TO FIVE BEDROOMS AND ARE Lazio and Anse Georgette, both appearing on the
residential real estate developer and a leading hotel
PRICED FROM US$3 MILLION top-10 list of world’s best beaches in recent years.
acquisition and development company are creating
TO US$6 MILLION. the resort. Kingdom Hotel Investments seeks out
Located on the northeast tip of Praslin Island, compelling locations in the high growth markets of
and close to the city’s airport, the site measures Asia, the Middle East and Africa in which to create
300,000 square metres, with 500 metres of stunning branded residential projects.
beachfront. The resort and estates will be truly unique
– private, relaxing, close to nature, yet offering the
very best personalized pampering that money
can buy and which only Raffles can deliver. For further information please contact
Raffles Estates seeks out the most spectacular Rebecca Shum:
expanses of land suited to the grandest villas and rebecca.shum@cbre.com.hk
mansions, offering the ultimate experience for those

UAE
DUBAI
PALAZZO VERSACE DUBAI

PALAZZO VERSACE DUBAI

FOLLOWS IN THE SUCCESSFUL
FOOTSTEPS OF PALAZZO
VERSACE GOLD COAST IN
AUSTRALIA, WITH ALL THE
LUXURIES THAT ONE WOULD
EXPECT FROM AN EXCLUSIVE
SEVEN STAR RESORT.

Construction is now underway on the 130,000
square metre site, forming an integral part of the
new Culture Village master development on
the Dubai Creek. Culture Village is a unique
development offering an elite lifestyle in an
intellectually stimulating environment, with year-
round world class cultural events.
Boasting a premium waterfront location with
unobstructed views of the Creek, the resort is
designed and located to appeal to both the leisure
and corporate traveller. The 169 private luxury
residences and 215 hotel suites will all be furnished
with an exclusive line of Versace Home Collection
furnishings.
IN_MAGAZINE
There will be a Gianni Versace day spa, ballroom, The interiors exhibit luxurious flooring and the highest
Versace boutique, an exquisite Vanitas fine dining quality fixtures and fittings, finished to an extremely
room, landscaped gardens and a marina. high standard. Residents are encouraged to immerse
themselves in an authentic lifestyle experience
The residences range from one to six bedrooms,
reflecting the quality, classic style and fine detail of
single-storey and duplex, with a showcase
the House of Versace.
penthouse. Each one features spacious internal living
space, with stunning views of the surrounding area,
accessed by external balconies and terraces. Each
of the magnificent duplexes has a private mosaic-
For further information please contact
lined swimming pool, Jacuzzi and outside terrace
Morna Macdonald:
and some of the larger residences have private
morna.macdonald@cbre.com
cinemas, libraries, gardens and saunas.
EXQUISITE 63
PROPERTIES

WEST INDIES
GRENADA
FOUR SEASONS MOUNT
HARTEMAN ESTATE

GRENADA IS A 40 MINUTE
FLIGHT WEST FROM
BARBADOS TO THE SOUTHERN
END OF THE GRENADINES AND
IS READILY ACCESSIBLE WITH
DIRECT FLIGHTS TO AND
FROM THE UK (MANCHESTER
AND LONDON) AND THE USA
(MIAMI AND NEW YORK).

Grenada is recognised as one of the most naturally course villas; and a 124 room Four Seasons
beautiful of the Caribbean islands, with stunning Caribbean style hotel.
expansive beaches and lush tropical rainforest.
Amenities at this prestigious development include
Grenada is widely quoted in international press
an 18 hole golf course, Marina (with attached sailing
as being in the top ten global hotspots for luxury
school and marine research centre), Cliffside Spa,
development, as can be seen by the increasing
Beach club, tennis academy a Spice Island Tea
trend of affluent homeowners such as Bill Gates,
House and several speciality restaurants and bars.
Steven Spielberg, Oprah Winfrey and more recently,
Lewis Hamilton.

The Four Seasons Mount Harteman Estate is a

400-acre southerly coastal and tropical woodland For further information please contact
development, It incorporates 55 private island Jonathan Seal:
residences; 115 beach front, Marina, and golf jonathan.seal@cbre.com

BARBADOS
CLEARWATER BAY
FOUR SEASONS

FOUR SEASONS PRIVATE

RESIDENCES OCCUPIES
AN IDYLLIC LOCATION AT
CLEARWATER BAY ON THE
WORLD FAMOUS PLATINUM
COAST IN BARBADOS.
CONCEIVED BY INNOVATIVE
PROPERTY DEVELOPER
CINNAMON 88, THIS
EXCLUSIVE, 32 ACRE RESORT
IS LEADING THE MARKET IN
RESORT-RUN RESIDENCES.

Located within the grounds of the Four Seasons
Resort Barbados, these prime residential villas
benefit from the use of a variety of complementary
services offered by this acclaimed hotel. As well as
24-hour personal service, residents of the Four
Seasons Private Residences have unlimited access
to the fitness centre, swimming pool and private
tennis courts.
Four Seasons has followed a targeted course
of expansion since 1960, opening hotels in major
city centres and desirable resort destinations around
the world. The group now boasts 70 hotels in
31 countries, and more than 25 properties under
development.
From tiered terraces that sweep down to a classic
stretch of white palm-fringed sand, each of the
36 magnificent private villas will offer spectacular
ocean views. Careful landscaping will ensure
privacy, security and uninterrupted tropical breezes,
whilst providing direct access to some of the
Caribbean’s most breathtaking beaches.
This exclusive private resort is singlehandedly
redefining luxury and elegant living across the
Caribbean.
For further information please contact
Jonathan Seal:
jonathan.seal@cbre.com
CB RICHARD ELLIS RESIDENTIAL OFFICES WORLDWIDE
FOR INFORMATION ON ANY OF THESE
EXQUISITE PROPERTIES PLEASE CONTACT:

AMERICAS ASIA PACIFIC EMEA

ARGENTINA AUSTRALIA AUSTRIA SPAIN
Luis Martinez de Virgilio David Milton Margit Petri Jose Manuel Peidro Hombravella
Buenos Aires Sydney Vienna Madrid
Paraguay 346, 14th Floor, Buenos Aires, Suite 1403, Level 14, 100 Pacific Highway, Tegetthoffstrasse 7, 1010 Vienna Edificio Torre Picasso, planta 27,
1057, Argentina North Sydney 2060 t +43 1 533 40 80 14 Plaza Pablo Ruiz Picasso, 28020, Madrid
t +54 114315 8845 t +61 2896 98500 e margit.petri@cbre.com t +34 91 514 3870
e lmartinez@cbre.com.ar e david.milton@cbre.com.au e josemanuel.peidro@cbre.com
BAHRAIN
BRAZIL CHINA Mike Williams Javier Reque
Walter Cardoso Anton Eilers Manama Marbella
São Paulo Beijing Ground Floor Block 2, Manama Centre, Edificio Golden, Avenida Ricardo Soriano,
Rua Alexandre Dumas, 1711, 10o. Andar, 11th Floor, Tower 2, Prosper Center, Government Avenue, PO Box 11370, Manama 72, Planta 1ª, Portal B Marbella, 29600
Birmann 11 Building 04717-004 São Paulo No. 5 Guanghua Road, Chaoyang District, t +973 1655 6600 t +34 95 276 5130
t +55 11 5185 4688 Beijing, PRC 100020 e mike.g.williams@cbre.com e javier.reque@cbre.com
e wcardoso@cbre.com.br t +86 10 85880828
e anton.eilers@cbre.com.cn BELGIUM SWEDEN
CANADA Therecia Landell Henrik Sandström
Tony Quattrin Jane Alexander Brussels Stockholm
Vancouver Shanghai Avenue Lloyd George 7, Brussels, 1000 Mäster Samuelsgatan 42, 12th floor, Stockholm,
Terasen Centre, Suite 600, 1111 West Georgia St, Suite 3201, Shanghai K. Wah Centre, 1010 t +322 643 3376 SE-111 57
Vancouver BC, V6E 4M3 Huaihai Zhong Road, Shanghai, 200031, China e therecia.landell@cbre.com t +46 8 4101 8730
t +604 662 5154 t +86 21 24011200 e henrik.sandstrom@cbre.com
e tony.quattrin@cbre.com e jane.alexander@cbre.com.cn FRANCE
Guy Neplaz SWITZERLAND
CHILE HONG KONG Paris Nicole Weber
Fernando Ruiz Rebecca Shum 34/36 rue Guersant, 75017 Paris Geneva
Santiago Hong Kong t +33 1 55 37 47 62 33 rue des Bains, Geneva, CH-1205
Roger De Flor No. 2871, Office 103, Esquina 34/F Central Plaza, 18 Harbour Road, e guy.neplaz@cbre.fr t +41 22 322 80 67
Avenida El Bosque Norte, Las Condes, Wan Chai, Hong Kong SAR e weber@cbre.ch
Santiago, Chile t +852 2820 2980 Françoise Heraud
t +56 2 234 2932 e rebecca.shum@cbre.com.hk Paris UAE
e fernando.ruiz@cbre.com 34/36 rue Guersant, 75017 Paris Morna Macdonald
INDIA t +33 1 55 37 47 63 Dubai
LATIN AMERICA & THE CARIBBEAN Manish Kashyap e francoise.heraud@cbre.fr Emaar Square, Building 6, 8th Floor, Dubai, UAE
Jorge Hurtado New Delhi t +971 443 77244
Miami PTI Building, Ground Floor 4, Parliament Street MONTENEGRO e morna.macdonald@cbre.com
777 Brickell Avenue, 9th Floor, Miami, FL 33121 New Delhi 110 001 Nikola Cetkovic
t +1 305 533 7109 t +91 11 4239 0200 Budva UK
e jorge.hurtado@cbre.com e manish.kashyap@cbre.com Babilonija bb, 85310 Budva Jonathan Seal
t + 382 33 459 744 London
MEXICO INDONESIA e nikola.cetkovic@cbre.co.me Kingsley House, 1a Wimpole Street
Jose Nacif Steven Tjen London W1G 0RE
Mexico City Jakarta MOROCCO t +44 207 182 2264
Montes Urales 470 – 2, Col. Lomas de PT. CB Richard Ellis Indonesia, Karim Beqqali e jonathan.seal@cbre.com
Chapultepec, Mexico City, DF 11000 PermataBank Tower 7th Fl, Casablanca
t +52 55 5284 0000 Jalan Jenderal Sudirman Kav. 27, 97, Boulevard Al Massira, Al Khadra 1er Etage, Nick Jopling
e jose.nacif@cbre.com Jakarta 12920, Indonesia. 20100 Casablanca London
t +62 21 523 7337 t +212 22 77 89 80 Kingsley House, 1a Wimpole Street
PANAMA e steven.tjen@cbre.co.id e karim.beqqali@cbre.com London W1G 0RE
Ramon Roux t +44 207 182 2076
Panama City PHILIPPINES POLAND e nick.jopling@cbre.com
Plaza Credicorp Bank, Calle 50 No. 120, Rick Santos Mikolaj Martynuska
Suite 502, Panama City, Panama Manila Warsaw
t +507 210 1675 76 Suite 1003-1005, 10f, Rondo 1, 12th Floor,
e ramon.roux@cbre.com Ayala Tower One Exchange and Plaza, Rondo ONZ 1 Warsaw, 00-124
Ayala Avenue, Makati City, Metro Manila 1226 t +48 2254 48029
PERU t +63 275 22573 e mikolaj.martynuska@cbre.com
Raúl Contreras e rick.santos@cbre.com
Lima PORTUGAL
Avenida Aramburu 965 Suite 401, San Isidro, SINGAPORE Jose Macedo
Lima, 27, Peru Pauline Goh Lisbon
t +511 222 7914 Singapore Edificio Amoreiras Square,
e raul.contreras@cbre.com.pe 6 Battery Road, 32-01 Singapore 049909 R.Carlos Alberto da Mota Pinto,
t +65 6224 8181 17 - 10 A, Lisbon 1070-313
USA e pauline.goh@cbre.com.sg t +35 121 311 4400
Colleen E. Pentland e jose.macedo@cbre.com
Boston THAILAND
111 Huntington Ave 12th FL, Boston, MA 02199 David Simister ROMANIA
t +1 617 488 7241 Bangkok Ionut Bordei
e colleen.pentland@cbre.com 46th Floor, CRC Tower, All Seasons Place, Bucharest
87/2 Wireless Road, Lumpini, Pathwan, Europe House, 51-53 Lascar Catargiu Blvd,
Laurie Lustig-Bower Bangkok 10330 Bucharest, Sector 1
Los Angeles t +66 265 41111 t +40 7229 31366
1840 Century Park East, Suite 700, Los Angeles e david.simister@cbre.co.th e ionut.bordei@cbre.com
CA 90067
t +1 310 550 2556 VIETNAM RUSSIA
e laurie.lustig-bower@cbre.com Marc Townsend Jana Kuzina
Ho Chi Minh Moscow
Kent Kerr Unit 1301, Me Linh Point Tower, 2 Ngo Duc Ke Millennium House, Trubnaya Street,
Miami Street, Ho Chi Minh City, S.R., District 1 12 Moscow, 107045
777 Brickell Avenue, 9th Floor, Miami, FL 33121 t +848 382 46125 t +7 495 258 3990
t +1 305 533 7110 e marc.townsend@cbre.com e jana.kuzina@cbre.com
e kent.kerr@cbre.com
SERBIA
William Huberty Vladimir Popovic
San Francisco Belgrade
101 California St, 44th Floor, San Francisco Airport City Belgrade, Omladinskih brigada 88b,
CA 94111 11070 Belgrade, Serbia
t +1 415 772 0487 t +381 11 222 3407
e william.huberty@cbre.com e vladimir.popovic@cbre.co.rs

Joel Coren SLOVAKIA

Washington DC Matej Galata
The Victor Building, 750 9th St, NW Suite 900 Bratislava
Washington DC 20001-4156 Park One, Nam. 1.maja 18, Bratislava, 811 06
t +1 202 585 5773 t +421 2 32 55 3 307
e joel.coren@cbre.com e matej.galata@cbre.com

IN_MAGAZINE
Although every effort has been made to ensure that the
information contained in this publication is accurate there is no
guarantee that the information does not contain any errors and
there is no acceptance of any liability to the readers for any
losses caused or suffered as a result of any such errors The
information contained within this publication should not be
taken as investment advice and there can be no acceptance of
any liability to the readers for any losses caused or suffered as a
result of any information contained within this publication. All
rights reserved. No part of the publication may be reproduced,
stored in a retrieval system or transmitted in any form or by any
means without the prior written permission unless expressly
permitted or required by law.

Any enquiries concerning reproduction of the information

contained within this publication should be sent to
enquiries@inonthenet.com

Property Misdescriptions Act 1991: It is recommended that if

readers are interested in a property or development advertised,
written about or referred to within this publication they contact
the person specified in the relevant article or advertisement.
The contact will be able to answer specific questions about that
property or development or, alternatively, will be able to put you
in contact with someone that can. The contact will also be able
to confirm whether the relevant property or development is
under offer at the time of speaking.

Please note that, in particular, all descriptions, dimensions,

references to the condition of, permissions for the use and
occupation of and other details relating to the properties or
developments referred to in this publication are provisional at
the time of publication. Any readers interested in any of the
properties or developments referred to in this publication
should not consider these details to be a statement of fact and
should satisfy themselves as to the suitability of that property or
development by inspecting it directly. Accordingly, there is no
acceptance of any liability to readers for losses caused or
suffered as a result of any reliance on any information or
descriptions contained within this publication.
 ISSUE ONE 2009

____China Capital Flows

____London Lights
____Defining Super Prime
____Boom – Dens & Dachas
ISSUE ONE 2009

____World’s 50 Best Restaurants

____Resorts – The New Black?
____Navigating the Credit Crunch
____Exquisite Properties