Tuesday, October 26, 2010
Saturday, October 23, 2010
Burj Khalifa, world's tallest building,Varun Chaudhary
There's a half-off sale in the world's tallest building.
Even with an address at the iconic Burj Khalifa, rents for residences in the tower are not immune from Dubai's real estate crash. Indeed, nearly a year after it was inaugurated with a massive water-and-fireworks display, about 825 of the tower's 900 ultra-luxury apartments remain unoccupied, according to Better Homes, a real estate brokerage in Dubai.
The cost of renting a studio with floor-to-ceiling windows, marble fixtures and wooden floors has dropped to $1,815 a month from $3,025, while a one-bedroom apartment is available for $2,722 (it used to be $4,536), the brokerage says. Two-bedroom residences are expected to get $4,310, down from $7,183. Interested parties "call every few days and go for a viewing," says Imad Ben Khadra, a Moroccan expatriate who owns two 1,000-sq.-ft. one-bedroom apartments he purchased in late 2008 for about $950,000, both of which he is trying to rent out. "We got some offers [from prospective tenants], but nobody confirms." (See pictures of the Burj Khalifa, the tallest building in the world.)
Varun Chaudhary bought two two-bedroom residences in the Burj for about $1.5 million in 2005 even before construction began. He saw the value leap from $762 per sq. ft. to $3,811 per sq. ft. at the heights of the boom. Today, those values hover just above his purchase price. But he says he isn't worried about his investment. "These properties will recuperate faster than other properties because it's an icon, because it's only one in the world," he says. "You just have to say 'Burj Khalifa.' That's the address; you don't have to explain. It's a style statement in itself.
Still, the Burj, with its one-of-a-kind address and amenities like the first-ever Armani Hotel, is only the most high-profile example how Dubai's once flying real estate market has crashed. Overall in the emirate, property prices have dropped an average of 50%. Some half-built projects, located away from the main highway that runs through the city, may never be completed because their values have dropped too much.
But it's the units that will be completed that are looming as a problem. The Dubai economy must still digest a flood of housing units coming on line or soon to be opened, which will further dampen prices. Through September, 27,000 residential units have been put on the market, and another 9,000 are expected to be completed by the end of the year, according to real estate firm Jones Lang LaSalle. For 2011, the firm forecasts that about 30,000 new units will come on line. A glut in commercial property has forced landlords to offer previously unheard-of incentives such as free rent and allowances to finish out shell construction space. "They built the infrastructure for a much larger economy than it can [now] attract," says Wissam Haroun, a Syrian expatriate who owns entertainment and technology companies in Dubai.
Worried about the glut, Dubai's Real Estate Regulatory Agency recently said it was canceling or in the process of canceling about half of all projects registered with the authority. Of about 980 developments, 495 are on the chopping block, according to a Dubai sovereign-bond prospectus made public last week.
Some, however, see opportunity in the depressed prices. "It's a massive change in terms that it's no longer the man on the street or the lady on the street buying property on spec or off plan," says Paul Devonshire, a director with Pramerica Real Estate Investors who specializes in the Middle East and North Africa region. Now, he explains, institutions or more savvy investors are moving in, eyeing distressed or repriced assets.
But the buzz was decidedly subdued at the recent Cityscape Global, the annual real estate exhibition that in the past featured the launch of glitzy projects like the Palm Trilogy, the world's largest man-made islands. The name of the event itself had been changed from Cityscape Dubai in order to expand the focus beyond the city-state. Only a fraction of exhibitors - 200, down from around 1,000 during the boom - showed up to participate.
With speculators gone and credit still tight, Dubai is going about the hard work of adjusting to its new economic reality. Top of the list is paying back creditors that helped finance the boom. Over the past decade, Dubai amassed $109 billion in debt, with about $15.5 billion due this year, the International Monetary Fund estimates. Dubai World, one of the three main holding companies controlled by Dubai's ruler, Sheik Mohammed bin Rashid al-Maktoum, said last month that 99% of its creditors had agreed to alter the terms on $24.9 billion of its debt. Last November, Dubai World sent stock markets around the world tumbling when it announced it wanted a moratorium of its debts. "We are back. Of course we are back," Sheik Mohammed said in a Bloomberg TV interview last month while attending the Alltech FEI World Equestrian Games in Lexington, Ky.
Thursday, October 21, 2010
shakiara waka waka,fifa world cup 2010
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Sofia Vergara ,Fuera de Serie.
Fifteen years ago, Sofia Vergara starred in the television series "Fuera de Serie." While many voluptuous Latina models were left behind, Sofia stood out and has become one of the hottest Latina actresses working in Hollywood today. So what's this "Modern Family" star's
secret? Easy: She knows to lead with her curves
Tuesday, October 19, 2010
Couple's babies born 8/8/8, 9/9/9, 10/10/10
Having a child born on 10/10/10 is pretty cool, but having that birth follow two others on 8/8/08 and 9/9/09 — that's got to be impossible, right?Well, meet Chad and Barbie Soper, whose daughter Cearra was born on Oct. 10; whose other daughter Chloe was born on Aug. 8, 2008; and whose son Cameron was born on Sept. 9, 2009.
"I thought it was neat numbers, something fun for the kids on their driver’s license – oh, your birthday has rhyming numbers.
"When the third one came around and it did end up on 10/10/10, I was surprised and I was happy because then the little one wouldn’t be left out."
So is 11/11/11 in the cards? Both Sopers are quick to say no.
"Definitely no," Barbie Soper earlier this week. "We wanted three and I'm glad we have that."
Monday, October 18, 2010
Newzeland whitewashed in Bangladesh
New Zealand in one-day series by winning final one-dayer at the Sher-e-Bangla National Stadium in Mirpur on Sunday. Bangladesh have already clinched the Micromax ODI Cup after beating the Black Caps by nine runs in the fourth ODI on October 14.Earlier, it had won third ODI on October 11 by seven wickets and first ODI on October 5 by another nine runs.
Before two months of world Cup Cricket it is a great plus point for Bangladesh. The fans of Bangladesh team now can hope some specials in the world cup from their favourite team.
Friday, October 15, 2010
FBI was warned of Mumbai plotter's terrorism ties
FBI was warned of Mumbai plotter's terrorism ties
Three years before Pakistani terrorists struck Mumbai in 2008, federal agents in New York City investigated a tip that an American businessman was training in Pakistan with the group that later executed the attack.The previously undisclosed allegations against David Coleman Headley, who became a key figure in the plot that killed 166 people, came from his wife after a domestic dispute that resulted in his arrest in 2005.In three interviews with federal agents, Headley’s wife said that he was an active militant in the terrorist group Lashkar-i-Taiba, had trained extensively in its Pakistani camps, and had shopped for night vision goggles and other equipment, according to officials and sources close to the case. The wife, whom ProPublica is not identifying to protect her safety, also told agents that Headley had bragged of working as a paid U.S. informant while he trained with the terrorists in Pakistan, according to a person close to the case
Thursday, October 14, 2010
Sunday, October 10, 2010
Tuesday, October 5, 2010
The Pakistani immigrant faisal shahzad sentence to death
The Pakistani immigrant had admitted he'd hoped to kill people by loading his car with explosives and detonating it. He said he would have gone on to plant another bomb in New York. Faisal Shahzad, a Pakistani immigrant who admitted he'd hoped to kill as many as 40 people by detonating a car bomb in Times Square in May, was sentenced on Tuesday to life in prison.
saudi prince killed his servant
.
Bandar Abdulaziz, 32, was found beaten and strangled in the Landmark Hotel, Marylebone, central London, on 15 February.
The court was told Saud Abdulaziz bin Nasser al Saud had carried out several assaults on the victim before he died.A Saudi prince murdered his servant in an attack which had a "sexual element", the Old Bailey has heard.
us president and vice president list
President | Vice President |
George Washington (1789-1797) | John Adams (1789-1797) |
John Adams (1797-1801) | Thomas Jefferson (1797-1801) |
Thomas Jefferson (1801-1809) | Aaron Burr (1801-1805) |
George Clinton (1805-1809) | |
James Madison (1809-1817) | George Clinton (1809-1812) |
none (1812-1813) | |
Elbridge Gerry (1813-1814) | |
none (1814-1817) | |
James Monroe (1817-1825) | Daniel D. Tompkins (1817-1825) |
John C. Calhoun (1825-1829) | |
Andrew Jackson (1829-1837) | John C. Calhoun (1829-1832) |
none (1832-1833) | |
Martin Van Buren (1833-1837) | |
Martin Van Buren (1837-1841) | Richard M. Johnson (1837-1841) |
Monday, October 4, 2010
telephone interview
"Often, a candidate's failure occurs because he didn't treat the phone interview as seriously he would have a face-to-face meeting with a recruiter or potential employer," says Vicki Salemi, author of "Big Career in the Big City."
In her book, Salemi pinpoints several phone interview faux pas, which include the following:
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