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Press Releases from Ocean Villas Group Pte. Ltd. (52 total)

Vera Wang bags Steve Hermann property in Beverley Hills, Los Angeles

Celebrity New York fashion designer Vera Wang has splashed out US$9.2 million on a Steve Hermann designed property in Coldwater Canyon, Beverley Hills, Los Angeles. Hermann bought the 408m2 house in June 2008 for US$5 million. He spent the next two years completely redesigning and renovating the 1967 built property at a cost of US$3 million. Two new bedrooms were added. The ceilings were raised to a height of 3.6 metres. The

Asia Pacific worlds cheapest for building property

The Annual Construction Cost Comparison Report by EC Harris Research has revealed that countries throughout the Asia Pacific region have significantly lower building costs than their counterparts in The West, despite experiencing substantial economic growth. Now in its seventh year, the report compares building costs per square metre in fifty six countries worldwide against construction costs in the South of England. India and Sri Lanka have the lowest construction costs in the

Jade Jagger puts Spanish property up for sale

Spain: The daughter of Rolling Stones frontman Mick Jagger, Jade Jagger, has put her Spanish property up for sale. The seventeenth century farmhouse is located on the North West Coast of the Balearic Island of Ibiza near the village of Sant Joan de Labritja. Dubbed by Jagger as her own “private paradise”, the Spanish property sits on top of a mountain overlooking the Mediterranean Sea. And from its secluded location it’s hard to

Spain cuts new property tax in half to lift Spanish real estate industry

Madrid, Spain: The Spanish Government has cut value added tax on new property in Spain by 50 per cent with immediate effect. The reduction in VAT (Spanish - IVA) from eight per cent four per cent on new build Spanish properties came into force on August 19th and will continue until the end of the year. Announcing the decision Jose Blanco, Minister of Development for Spain, said he hoped the new measures

Jerry Seinfeld selling Colorado property for US$18.25 million

Jerry Seinfeld, the star and co-creator of hit US television show ‘Seinfeld’, has put his Colorado estate on the property market for US$18.25 million. Nestled in the Rocky Mountains and described as “an evolving series of Western ranch structures”, the twenty six acre property boasts eleven bedrooms and fourteen bathrooms. After he bought the estate, Seinfeld ordered a multi-million dollar renovation and expansion of the property. It now has a separate

Ecclestone buys Aaron Spelling property in Los Angeles for US$85 million

Petra Ecclestone, the daughter of F1 Supremo Bernie Ecclestone, has bought the Los Angeles home of Amercian film and television producer, Aaron Spelling. The twenty two year old fashion designer paid a reported US$85 million for the US property. Spelling bought the house from singer and actor Bing Crosby in 1983. The ‘Starsky and Hutch’ producer then demolished Crosby’s home and built his 5,300m2 mansion in its place. The property, known as

Steve Coogan swaps Travel Tavern for £2.45 million UK property

British comedian and Hollywood actor Steve Coogan won’t need to stay at the local Travel Tavern like his comedy alter-ego ‘Alan Partridge’. He is now the proud new owner of Ovingdean Grange near Brighton in West Sussex, United Kingdom. Coogan paid a reported £2.45 million (US$3.95 million) for the property. The sixteenth century Grade II listed building has six bedrooms a billiard room, a cinema and is surrounded by walled gardens. The

Singapore property developer to invest billions in Thailand condominiums

Bangkok, Thailand: Singapore based property developer, Dalvey Developments Limited, has announced plans to invest one billion baht (US$33 million) into building condominiums in Thailand over the next twelve months. Going forward, the company intends to develop a new real estate project in Thailand every two years. Over the past six years the Singaporean property developer has completed three condominium projects in Bangkok; Haus 23 Ratchada-Lat Phrao, a two hundred and thirty

Lots more property in Spain for Travelodge

Madrid, Spain: Budget hotel chain Travelodge and their property development partners Citygrove have announced the start of their expansion in Spain. Travelodge already operate three hotels in the Spanish cities of Madrid and Barcelona and have revealed plans to open a further fifty properties in Spain over the next ten years. “Our existing three hotels have been trading well. When a country has economic concerns it is the time consumers choose a

Dubai property ‘The Torch’ sets new world record

Dubai, UAE: Property in Dubai reached new heights this month as residential development ‘The Torch’ at Dubai Marina officially became the world’s tallest residential building. Developed by Select Group, one of the largest private property developers in the United Arab Emirates, The Torch beat the Q1 Tower on the Gold Coast of Australia by just twenty five metres when its completion was announced earlier this month. Designed by award winning architects Khatib

Bulgari to open new property in London Knightsbridge for 2012 Olympics

Luxury Italian brand Bulgari has just received approval for a new luxury hotel in London’s exclusive Knightsbridge area. The Bulgari Hotel and Residences are due to be completed in May 2012, just before the start of the 2012 London Olympics. The new luxury hotel will have seventy eight rooms and five apartments, with six apartments and a penthouse available for sale to private investors. CEO of Bulgari Group, Francesco Trapani, commented;

Thailand property developer invests US$300 million in India real estate

Bangkok, Thailand: Leading Thailand property developer, Pruksa Real Estate PLC, has unveiled ambitious plans to invest US$300 million in the Indian property market over the next five years. The Thai developer is set to build property in major Indian cities such as Delhi, Mumbai and Bangalore under the company’s flag ship Indian brand, Pruksa India Construction Pvt. Ltd. The news follows the success of the real estate developer’s first project in India,

Hollywood comes to Murcia, Spain - Property enquiries surge

Murcia, Spain: On 25th March 2011 Paramount Pictures made the official announcement that they have selected Murcia in Spain for the site of the largest theme park in Europe. Interestingly this resulted in the highest number of weekend enquiries for Spanish property in five years. Paramount are aiming to compete with Disneyland, Paris. Is this possible? Murcian Councillor for Culture Pedro Alberto Cruz seems to think so, commenting; "the region of Murcia will

China bans overseas investment in villa projects

Beijing, China: In further efforts to slow record high property prices and control inflation in China, the Chinese government has banned all foreign investment in the construction and management of villas. The change to the ‘Catalogue Guiding Foreign Investment in Industry’ guidelines, last revised in 2007, now lists foreign investment in the construction and management of villas in the ‘prohibited’ category. Previously this was listed as ‘restricted’. The state planning

Movenpick Resort and Spa, Cebu opens on Mactan Island, Philippines

Manila, Philippines: The Swiss based hotel chain Movenpick Hotels and Resorts has officially taken over the management of the Hilton Cebu Hotel and Resort on Mactan Island, Philippines. The Movenpick Resort and Spa Cebu is Movenpick’s first venture in the Philippines and marks the first step in its’ aggressive expansion plans for Asia. The resort consists of two hundred and forty six rooms, including seventy four spa suites and is owned by

Spanish property of General Francisco Franco opens to public

Spain: The former summer palace of Spanish dictator General Francisco Franco has finally been opened to the public. The Palace of Pazo de Meirás in Northwest Spain has been the subject of a dispute between Franco’s family and the Spanish Government since his death in 1975. Following his death it passed to his daughter, Carmen, who became the first Duchess of Franco. For many years there has been growing pressure on Carmen

Chelsea FC’s Roman Abramovich buys £25 million ‘stop gap’ London property

Roman Abramovich, the fifteenth richest man in the world, has splashed out £25 million (US$40.5 million) on a ‘stop gap’ home for him and his girlfriend, Dasha Zhukova, in one of London’s most up-market areas. The Grade 2 Listed building overlooks the River Thames near Battersea Bridge and is situated on Chelsea’s Cheyne Walk. The property features a fifty-foot long drawing room with high ceilings, nine bedrooms, ten bathrooms, a

Former Beckingham Palace owner puts Footballers Wives property on sale for £3.5 …

Elsenham House, the property used in the UK TV drama ‘Footballers Wives’, has been put on the market by its owner Richard Maher. The property is located on the border between Essex and Hertfordshire and is only two miles from Stansted Airport. The main house has a total living area of 1,300 Square metres (14,000 square feet) which is about the same as ten, three bedroom, semi-detached houses in the UK. The

Is confidence returning to the property market in Dubai?

Dubai’s Real Estate Regulatory Agency (RERA) has confirmed that Dubai will move ahead with 220 residential property projects this year. "We have 220 projects that are going on. We have evaluated projects and those are moving forward," confirmed Marwan Bin Ghalaita, the chief executive of RERA. In 2010 RERA cancelled 202 projects, but this year there have already been a total of 115 new property developments launched in Dubai and more are

Niseko Japan to be the ‘Aspen of the East’

Richard Li, the son of China’s richest man Li Ka-Shing, and Francis Yeoh, the son of billionaire Seri Yeoh, are planning to turn the Japanese village of Niseko into Asia’s equivalent of Aspen in Colorado. Pacific Century Premium Developments, owned by Richard Li, is investing US$1.2 billion into two hotels and a resort with three thousand luxury condominiums in Niseko’s Hanazono area. Francis Yeoh, the founder of Malaysian construction company YTL, has

Kate Moss set to lose £1m in UK property crash

It seems that Kate Moss may become the latest victim of the UK property crash; the thirty seven year old model is franticly trying to sell her five bedroom, Victorian home in Melina Place, London - even if it means she makes a £1 million (US$1.6 million) loss. Moss bought the property in 2007, when prices in London were approaching their peak, for £8 million (US$ 13 million). According to reports,

Tiger Woods new US$60 million property with golf course

Tiger Woods, the former golf world number one, has revealed that he is moving to a new home on Jupiter Island in Florida, USA. The golfer’s new mansion, which overlooks the Atlantic Ocean, is worth a reported US$60 million and comes complete with a running track and a four-hole golf course. Tiger Woods, whose marriage to former swimwear model Elin Nordegren ended in divorce last year, posted photos on his blog, saying

Thailand property developer, Supalai, announces 16 new projects

Bangkok, Thailand: Thailand property developer, Supalai PLC, has announced the launch of sixteen new projects with a combined value of twenty billion baht (US$656 million). The new projects are all located in Bangkok city centre and are aimed at providing affordable housing for buyers who currently live in the suburbs but are concerned with rising transport costs and travel times. Supalai predict that a total of 17 billion baht (US$ 557 million)

Chelsea owner Roman Abramovich opens the books on his billions

Chelsea Football Club owner, Roman Abramovich, has recently had to make a declaration of just how wealthy he actually is. Russia’s fifth richest man has announced he will run for re-election as a member of parliament for Chukota, Russia, where he served as Governor for eight years from 2000. Russia’s election laws require all candidates standing for election to declare their assets before they run for office. According to the declaration, Roman

Michael Jackson 's dad Joe invests in property in Vietnam

News has emerged that Joe Jackson, father of the late king of pop Michael Jackson, has invested in a US$2 billion hotel and amusement park in Vietnam. The project, called “Happy Land”, is set on a fifteen-hectare plot in Ben Luc District, Long An province in Vietnam, twenty minutes outside Ho Chi Minh City. Scheduled for completion in May 2014, Happy Land will include a leisure park, a large-scale commercial centre, 3

Madonna ex, Guy Ritchie, evicts squatters from property in London

The group of squatters who have taken over Guy Ritchie’s £6 million (US$9 million) London property have been ordered to leave. The group, who call themselves “The Really Free School”, were represented in court by first-year law student Tom Brianmurray, who claimed the eviction notice had not been properly placed and requested further time to prepare a defence. However, district Judge Marc Dight, on hearing the defence lawyer was in fact a

UK rental property in short supply

A report by leading UK letting agent Countrywide, shows that private rental properties in the UK are being snapped up just fifteen days after the property first appears on the market. This is five days less than last year’s average. The report also showed that, on average, there are 4.4 tenants looking to rent for each available property; the highest demand being in the South West of England. In fact, the total

Banyan Tree expand into China and Vietnam

Singapore: Well-known hospitality group Banyan Tree Holdings Limited, have announced that they have raised US$214 million through their private equity fund, the Banyan Tree China Hospitality Fund. Banyan Tree Holdings have previously stated their intention to develop a number of hospitality projects in China, including one hundred suites or villas in Chengdu and two hundred and fifty in Guangdong. The Banyan Tree China Hospitality Fund was set up to finance these

Cold War nuclear bunker for sale in Scotland

A Cold War nuclear bunker in Scotland has been put on the property market by its owners, Comrie Development Trust (CDT). The nuclear bunker is located beneath the rolling Scottish hills of the former Cultybraggan Camp, over a mile south of the town of Comrie and within fifty miles of Edinburgh and Glasgow. The former military installation was built in 1939 and played host to some of the most notorious Nazi prisoners

Johnny Depp, The Tourist, buys Palace in Venice, Italy

Actor Johnny Depp, whose recent films include The Tourist, has bought the Palazzo Donà Sangiantoffetti Palace in Venice, Italy for a reported US$ 13.8 million. The forty seven year old actor apparently fell in love with Venice last year whilst filming The Tourist with co-star Angelina Jolie. According to local newspaper La Nuova Venezia, the Hollywood star outbid an Arab prince for the empty property. The seventeenth century Palazzo Donà Sangiantoffetti was one

Hong Kong property most expensive in the world

The Global Cities Survey, published by Savills PLC, reported last week that Hong Kong residential property is now the most expensive in the world. In fact, based on the property price index contained in the survey, residential property in Hong Kong is 55 percent more expensive than property in London. The report compared four cities; Hong Kong, New York, London and Moscow. Property in Moscow emerged as being 7.4 percent more expensive

Tiger Woods Dubai golf course shelved

The Tiger Woods Dubai, a US$1.1 billion golf course and luxury property development designed by Tiger Woods, has been suspended indefinitely, according to an announcement by the property developer Dubai Properties. The Tiger Woods Dubai was scheduled to open in late 2009 but ran into difficulties when the global financial crisis struck in 2008; property prices in Dubai crashed and, as a result, the opening of the Tiger Woods golf

Jordan sells Surrey mansion

Ex-glamour model Jordan [real name Katie Price] is selling the £3million (US$ 4.85million) mansion she shared with her estranged cage fighter husband, Alex Reid. According to reports, Jordan wants to get rid of the property in Surrey, England fast and she has already instructed her real estate agents to sell as quickly as possible. Jordan met Reid, a mixed martial artist and actor who is often referred to as ‘Rocky’, in 2009

Bangkok, Thailand building China City free trade centre

Bangkok, Thailand: China is building a US$1.5 billion "commercial city" in Bangkok, Thailand to help traders re-export Chinese goods from Thailand by avoiding costly tariffs. The 700,000 square metre site (the equivalent area of one hundred football pitches) will be in the China City Complex on the outskirts of Bangkok City and will have enough space for over 70,000 Chinese traders. Construction began in January of this year and completion is expected

The Ascott backs Europe and Asia

The Ascott, one of the largest serviced residence companies in the world, has announced plans to invest in twelve new properties across Europe and Asia by the end of 2011. The new properties are likely to be located in Shenzhen in China, Chennai in India and Doha in Qatar. The Ascott is also looking to increase its presence in Europe and management are eyeing locations such as Paris, France. They also

China still buying up Europe

As the British Pound and Euro remain weak, and with European property prices at levels well below their 2007 highs, Chinese investors are continuing to buy up property in some of the most sought after locations in Europe. China’s rich are buying up a diverse range of prime, luxury real estate which ranges from historic castles in Germany to Chateaus in France and villas on the Spanish Costas. London, however, remains the

Trump Tower to be built in Mumbai, India

Trump Organisation, the real estate and entertainment company, privately owned by businessman Donald Trump, has announced plans to enter the Indian property market by building the Trump Tower Mumbai. In what will be Donald Trump’s first real estate venture in India, Trump Organisation will work alongside Indian property developers Rohan Lifescapes to construct the luxury residential project in Mumbai. Rohan Lifescapes will be responsible for building the Trump Tower, which will be

F1's Bernie Ecclestone splashes the cash for his ladies

Bernie Ecclestone, Formula One Supremo and CEO of Formula One Motorsport, has recently purchased two London properties for his daughters. According to a recent report, Bernie Ecclestone paid a total of £101 million (US$ 161.4 million) to acquire two of Londoon's most expensive properties for his daughters Tamara and Petra. Ecclestone's daughter Petra received a £56 million, grade two listed, eight-bedroom house in Chelsea, named Sloane House. Whilst Ecclestone's other daughter Tamara

Facebooks Mark Zuckerberg moves house to escape Oprah

Facebook creator and CEO Mark Zuckerberg moved to a new home this week, but only a few blocks away from his old one. In a move out of character, Zuckerberg, who is well known for staying away from the limelight, invited talk show host Oprah Winfrey inside his former property in September 2010. It seemed that the Facebook CEO had finally come to terms with his celebrity status but, only three

Vietnam real estate ranks fourth in emerging markets

Vietnam is enticing more and more international investors lately and, in a recent survey by the Association of Foreign Investors in Real Estate (AFIRE), Vietnam ranked fourth in the world in the emerging global real estate markets category. The AFIRE survey was a poll of a group of investors who hold more than $627 billion of global real estate in assets collectively. The results showed that Brazil, China and India dominate the

Mahatma Gandhi South African home named Satyagraha

We recently reported that the former South African home of Mahatma Gandhi was up for sale and that Coal India Limited were making their second attempt to buy the property. We have since discovered this information to be incorrect. Read original Gandhi article: The Gandhi house is, in fact, currently owned by Voyageurs du Monde Group who bought the home in September 2009 and it is not for sale. Voyageurs du Monde is

Maldives Herathera Island Resort contract goes to Thailand property developer

Herathera Island, Maldives: News has just emerged that the Thai residential property developer, Amari Estates Company, has won the lease management contract for Herathera Island Resort in the south Maldives. The four star resort is surrounded by a lagoon and has long, white, sandy beaches. It is the only resort on the island of Herathera and guests arrive via a twenty minute speedboat ride from Gan International Airport in the Madives.

Mahatma Gandhi South African home up for sale

The former Johannesburg home of Mahatma Gandhi is on the market and Coal India Limited, an Indian state controlled company based in Kolkata, are making their second attempt to buy the South African property. Mahatma Gandhi travelled to South Africa in 1893 to handle a legal case in Pretoria and moved to Johannesburg in 1903. After living in rooms behind his office on Rissik Street, Johannesburg for some time, Gandhi moved into

China restricts foreign property investments

According to a statement from the Chinese Ministry of Commerce (MOC), China will tighten its restrictions on foreign real estate investment. The MOC has asked local authorities to increase supervision on property investment involving foreigners and strengthen risk controls on the real estate sector. The statement stipulates; foreign funded developers will not be allowed to make profits through buying and reselling real estate projects. The MOC also stated that it would strictly monitor

Battersea Power Station project approved by Boris Johnson

London mayor Boris Johnson has approved plans for the redevelopment of Battersea Power Station which will create 16,000 new homes. Battersea Power Station, a grade two listed building, is located on the south bank of the river Thames, in Battersea South London. Although decommissioned in 1983, the coal-fired power station has become one of the world’s best known landmarks due to its iconic four-chimney layout. It was featured in The Beatles 1965

Asia splurges on Christmas whilst the West counts the pennies

As European and US economies continue to suffer from the economic downturn; consumers in the West have been cautious and the retail market slower than usual this Christmas. However, global retail brands have seen strong sales in Asia in the run up to the festive season. Singapore’s popular Orchard Road shopping area was busy with foreign tourists during the past two months. Many of these came from Southeast Asia where currencies have

Vietnam sets sights on high-end tourists

In Vietnam tourism authorities have outlined details of a ten-year plan which aims to attract more high-end tourists to its beaches. Currently, more than seventy percent of the country’s tourists visit Vietnam’s coastal provinces but, according to the Vietnam National Administration of Tourism (VNAT), the country has failed to tap into this lucrative market. VNAT deputy head, Nguyen Manh Cuong commented; "Getting ten customers who are willing to pay for luxury tours

Singapore laps up new Lamborghini

Despite the global economic downturn, the economy of Singapore shows no signs of slowing. In fact, more than fifty orders have been received for the new, S$ 1.5 million, Lamborghini LP700-4; and it hasn't even got an official name yet. The fifty orders were placed during a private preview in Singapore, which was the car's first stop in Asia, before visiting Hong Kong, China and Japan. Managing Director of Lamborghini Singapore, Melvin

A tale of four christmas trees...

It seems the humble Christmas tree is now a symbol of prosperity and this year the race is on for the title of "The most expensive tree in the world." The town of Milan, Italy was the first to claim the prize with the unveiling of a 450,000 USD tree in the Piazzo Duomo. The spectacular tree was donated by Tiffany & Co. and has over one hundred thousand white lights and decorations all specially

Vietnam to see thirty more Accor hotels by 2013

Accor, the world's leading hotel manager and market leader in Europe, have set an ambitious goal of operating thirty additional hotels in Vietnam by 2013. Accor already operates hotels in ninety countries and employs more than one hundred and forty five thousand people. Should Accor achieve their goal in Vietnam, they will have almost three times as many hotels under their management in the country. Patrick Bassett, Accor’s Vice President of operations for

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