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my
Wealth
Creation for
Future generations
When it comes to handing over the business to the next generation, the old Chinese saying ‘fu bu guo san
dai’ – (‘family wealth won’t pass through [more than] three generations’) still ring true.
123, Company address road 1
address line No. 2, Post 584535 The Chinese proverb says Wealth never lasts for three generations: First Generation creates the wealth,
District 1 Singapore. Second Generation grows the wealth, and Third Generation spends the wealth.
If this is also true for you, then it all depends on you to sow the
'plant' and create the seedlings of wealth now. It is up to you to
zāi prepare a solid monetary foundation so that the next generation
can do the same for as long as it's possible.
hòu
rén
chéng
liáng
what,where
and how?
”
a bamboo that's grouped together is even stronger.
2 Name of Person
Position
1
3
6
3 Name of Person
4 5
Position
4 Name of Person
Position
5 Name of Person
Position
6 Name of Person
Position
7 Name of Person
Position
8 Name of Person
SPosition
9 Name of Person
Position
10 Name of Person
Position
10
9
8
7
The locations highlighted here hold
some of the more prominent real-estate
assets in the world. They offer plenty in
terms of opportunities in business and
tourism that represent potentially
lucrative returns for the investor.
What
is on the table?
Manado
Located in South East Asia, Indonesia is an archipelago, with about 17,000 islands such as Sumatra, Java, Bali, Kalimantan, Sulawesi, the Moluccas North Sulawesi is a picturesque place and there are plenty of opportunities for investment in this area. Now that Bali is suffering from lack of tourists, perhaps North Sulawesi
Islands, and Irian Jaya. With its diverse landscape, untouched beaches, lush green forests, and volcanic mountains, Indonesia is truly an exotic will pick up the mantel. They certainly have everything to offer.
destination.
Rich in natural resources and endowed with scenic beauty plus good infrastructure like airports, seaports and roads, North Sulawesi is an attractive place for investors -
Real estate in Indonesia is a hot sector, with residential units and commercial buildings as well as industrialized plants sprouting all over the nation. In domestic and foreign alike. The province, nestled in the northernmost tip of Sulawesi, indeed has far more to offer.
other words, Indonesian real estate sector has globally marked its establishment in all respects. Low interest rates and robust consumer spending
has led to a tremendous economic growth. The province's potential and opportunities in investment, according to the North Sulawesi Investment Coordinating Board, is wide and vast, consisting of agriculture, mining,
tourism, industry, agriculture and fishery.
Indonesia also boasts of more than 10 billion barrels of oil reserves as well as 150 trillion cubic feet of potential reserves. Further, the innovative
measures taken by Indonesia to well organize its natural resources have now caught the attention of many global investors. Its main agricultural commodities are cloves, nutmeg, vanilla beans and coffee beans, while its prominent commodities in fishery are tuna, skipjack, grouper and seaweed. In
response to high market demand, the provincial administration has added corn and virgin coconut oil, which are abundant in North Sulawesi, to a list of commodities that the
People from across the world also flock here for a myriad of other purposes such as for education or employment requirements. Perhaps for these province plans to promote aggressively to boost its regionally earned income.
reasons real estate in Indonesia is of special significance. Most of the real estate investments have been found in metropolitan areas like Jakarta.
Indonesia provides almost all types of real estate, from luxury villas and homes to guest houses, hotel resorts and land. "Investment potential in North Sulawesi is big, but in the end it all depends on how we look at and exploit the opportunities," said Danny Kojongian, corporate director of giant
retail business group Matahari, whose company has opened branches in North Sulawesi's capital of Manado.
As in the case of other Asian nations, several laws and regulations have been formulated for the acquisition of a real estate in Indonesia. Different
types of titles are associated with the purchase of a land in Indonesia. Foremost is Hak Milik, otherwise freehold title. This type of title could be held Denny Bernardus, general manager of Citraland, which is building an exclusive housing complex consisting of 2,000 houses called The Village of Living, is of the same view as
only by a national of Indonesia. Further, property ownership with this title is considered the most complete form of land ownership in Indonesia, and it the Matahari executive on investment prospects in Manado in particular and in North Sulawesi in general.
possesses complete right to exchange, sell, bequeath, or transfer to eligible recipient.
"In terms of the property business, the prospects of Manado are very bright," said Denny, referring to a large foreign community and many wealthy Indonesian of Chinese
Certain restrictions have been imposed on foreigners to buy a land in Indonesia. A foreigner cannot purchase a land outright in Indonesia. However, ancestry wanting comfortable housing. Some of them want to move from crowded residential areas in downtown Manado to a housing complex, which offers not only modern
three options are opened for non-Indonesian to buy or acquire a land in the country, such as, leasehold investment, Indonesian nominee power of amenities but also a serene life and beautiful views.
attorney agreement, and PMA Foreign Investment Company Structure.
North Sulawesi, with its 2.1 million population, is also one of two main gates to the eastern part of Indonesia, the other being Makassar in South Sulawesi. As a main entry
Leasehold investment provides complete protection to a non resident investor during the term of lease agreement, which in turn is prepared for a point to the fast growing eastern region, North Sulawesi has a good network of infrastructure like roads, airports and seaports. Sam Ratulangi International Airport can
specific period, usually extending up to 25 years. Mostly, options would be there for extension. This agreement is also inclusive of the foreign accommodate wide-bodied planes like MD 11s, Boeing 737s and Airbus 300s and serves inbound and outbound flights almost around-the-clock including international airlines
investor's options regarding the right for the land or building demolishing or renovation. A land or property acquired through this option holds a kind of from Singapore and the Philippines.
title known as Hak Pakai or leasehold title.
Bitung seaport, one of the largest in Sulawesi which is an added lure for investment and tourists, can accommodate big passenger and cargo ships plying not only North
In the case of Indonesian nominee power of attorney, a foreign investor can enter a legal agreement through a nominee who is a permanent resident Sulawesi but also other areas in eastern Indonesia.
of the nation. Al though, this nominee is the registered owner, the foreigner holds the land certificates. On purchasing the property, both nominee and
investor sign a legal power of attorney. Once the power of attorney is signed, all of the nominee's rights with regard to property are waived and the North Sulawesi is also known for its tourism, especially marine tourism, which is said to be one of the best in Indonesia. Many tourists, namely enthusiastic divers from Japan
investor is given complete right on the property. Accordingly, the investor can build, sell, or lease the property. Further, he can even transfer the and Western countries, said Danny, would not leave Indonesia without first visiting Bunaken even though they may have been to Bali or other main tourist destinations in the
property. country.
INDONESIA
PMA (Penanaman Modal Asing) Foreign Investment Company Structure is primarily designed for enabling foreign business firms or corporations to Robust economic growth, which was recorded at 6.7 percent compared to the national growth of 4.8 percent in 2004, and 5.1 percent in 2005, is another added attraction of
purchase a property in Indonesia. However, property acquisition does not provide complete ownership to the foreign investors. This type of property North Sulawesi for investors, including those who operate in retail, real estate and hotel businesses.
acquisition holds the title of HGB (Hak Guna Bangunan.)
Matahari, for example, has two department stores, each measuring between 6,000 and 8,000 square meters, in Manado and will open a Hypermart in May or June this year -
In order to conduct a real estate transaction in the country, real estate sales people are not required to hold a license. Among the procedures in all with a combined investment of around Rp 55 billion (approximately US$ 6 million). Matahari expects a return in its investment in department stores in Manado by three to
connection with the buying of property in Indonesia are examination of land certificate at the Land office, payment of transfer tax by salesperson at a four years, which is relatively good for its retail business.
commercial bank, payment of tax on acquisition of the land and building by the buyer, filing for company tax registration number with the local tax
authorities, execution of sale and purchase of land deed through a legal representative appointed by an executive of the National Land Office, Danny said the potential of the retail business in North Sulawesi is great, thanks to the high purchasing power and high lifestyle of North Sulawesi people, who have modern
Registration of the Land deed under the name of the buyer with the Local Land Office, and Land Deed at the Tax on Land and Building Office. tastes. It is no wonder that big department stores like Matahari in Manado are always full of shoppers on weekends.
No matter it is single detached home, villa, apartment, office, or industrial space, a large number of realtors and real estate firms are now there to Big business potential in agriculture, fishery, tourism, industry and mining in the province, known as Nyiur Melambai province (province of swaying coconut trees), is also
find and buy your dream property in Indonesia. attractive to realtors and hotel operators, including national developers like the Ciputra Group or the Santika hotel chain.
The Citraland residential complex, being built along with Citra Kasih national plus school, is located in a prime and vast developing area not far the heart of Manado, for
• 3 hours flight from Singapore • 3 hours flight from Malaysia upmarket home buyers. The prices of Citraland houses range from Rp 280 million (US$30,000) to Rp 1.6 billion, an amount relatively high for the province.
• 4 hours flight from Thailand • 6 hours flight from Australia
The Santika Group, a subsidiary of the highly diversified Kompas-Gramedia group, operates a five-star hotel in a prime area 15 kilometers from the center of Manado. There are
dozens of four-, three- and two-star hotels besides unrated hotels in the capital city of North Sulawesi. Smaller hotels can also be found in mayoralties and regencies in North
Sulawesi.
Manado North Sulawesi is also a base for the giant Newmont Minahasa Raya, which has a gold mine in the Buyat Bay area, and PT Avoset and PT Meares Soputan Mining, which plan to
start operations mid-2006.
Although he has a positive view on investment prospects in North Sulawesi, Denny from Citraland has some constructive suggestions for the provincial and Manado city
administrations - to speed up repair of damaged roads in downtown Manado, and to immediately finish the development of the 8.4-kilometer Manado Bypass, which will connect
Sam Ratulangi Airport with areas in the direction of Tomohon. The bypass, construction of which began four years ago and was scheduled for completion last year, will
drastically reduce travel time of motorists as they would no longer have to pass along the crowded roads of Manado city.
Bright investment prospects in North Sulawesi are also helped by a conducive political climate and security condition as well as the friendly and open attitude of the people of
the province toward outsiders, including investors.
Ubud, Bali...
Bali in average has seen an average percentage as above property in the right location. And the right market. Now a lot of investors purchase properties
mentioned figures, depending a little on what areas, and this in faling markets such as USA and parlty EU, not looking the fact that the economy will stay in
trend is not likely to fall, as property in Bali is heavily recession for a couple of years. The Asian and Bali part of the world will slow down, but will
undervalued, as a comparison 40% less than Thailand. While stills see positive growth figures, something that will also apply to properties. Once the world
this is generally the case, you need to ensure that you buy financial market picks up, Asian growth will continue to be much larger than USA and EU.
property in the right location to maximise your capital growth.
One of the benefits of owning investment property is that you There are several tax benefits available to property investors, including claiming interest and
start receiving an income almost straightaway. Some properties expenses, and depreciation (both on the building and the fixtures and fittings). And with the right
in Bali runs at 70-80% occupancy, and the key to this is ownership structure these benefits can be quite extensive.
location, design, as well as a good management company, with
INDONESIA
a clear rental structure. In the current market, you could settle Any legitimate expense incurred in running your investment property should also be tax
on a property during the week and by the weekend you could deductible. For example, if you travel to the property to collect the rent, you can claim a
have a tenant who will have paid you some rent in advance, deduction. Alternatively, money paid to a property manager to manage your property is tax
such as a travel agent looking to contract villas for their deductible. Depreciation of the building may also be claimed as a tax deduction. The age of the
growing markets in Asia. With the other asset classes, you building will determine if you can claim any depreciation and at what rate you can depreciate it.
often have to wait until the end of your term (in the case of a The ultimate getaway island
term deposit) or until your dividends are due, which is usually
two to four times per year. Seminyak beach is one of the among the favourites tourist haunt when it comes to shopping.
Earning a reputation for being a sleek, boutique hotspot, Seminyak has a first-rate swimming
An inevitable part of life is inflation, and the rate of inflation beach and a number of designer accommodation and fine dining option. When you've had
varies according to the strength of the economy. One of the enough of it, you can always head for the capital Denpasar and Ubud. Lying just outside
benefits of holding property is that property values increase at a Denpasar, Jimbaran Bay is also a popular beach spot, with long, beautiful sandy beach. The
greater rate than inflation. This is great news if you already own beach is lined with small, family type restaurants offering fresh seafood. And dine in the
property, but not such great news if you are looking to buy splendour of the spectacular scenery.
property. The important thing to keep in mind is to buy the right
Bali
To many, investment in China may seem like a
difficult prospect. Apart from language and
Shanghai Shanghai stands at the epicentre of China's extraordinary
economic development. China has experienced double figure
cultural differences, concerns may range from growth over the last decade: the Chinese economy has
laws and regulations which may not be quadrupled since 1978 and is set to become the world's
transparent, to complicated bureaucracy. largest economy by 2020. Shanghai has consistently
However, China has made huge progress since outperformed this growth rate, standing at 19% in 2003.
it joined the UN and embraced a
Shanghai
market-oriented economy in the late 1970s. As China's commercial hub, Shanghai exerts a magnetic
attraction on foreign investment. International firms have
The country is opening up to trade, has an attracted a pool of skilled ex-patriot workers, creating a
increasingly liberal global trade regime, and demand for high quality property and serviced apartments. At
labour costs are a fraction of what they are in • 5 hours flight from Singapore • 4.30 hours flight from Malaysia
the same time, the economic success has poured money into
the West. China also showed its openness to • 3.30 hours flight from Thailand • 10.30 hours flight from Australia Shanghai and the local market for property has changed to
progress and development by joining the World reflect this greater wealth.
Trade Organization (WTO) in 2001.
Due to these developments, China is seeing In 2004, the Shanghai government invested 20 billion Yuan in
CHINA
A key element of China's new-found economic extraordinary economic growth (averaging the improvement of road and subway systems, which will
freedom has been the introduction of property approx 9.4% per year between 1978 and influence the development of the price and functional
rights. These property rights include laws 2001). In 2004, the Organisation for configuration of real estate in the future.
which state that the government may not Economic Cooperation and Development
confiscate property without payment of (OECD) predicted that the Chinese economy Shanghai hosted events from the Olympic games in 2008,
compensation, and allow for claims to be made would grow by 9.3% in 2005, rising to 9.4% and the World Expo in 2010. Such events continue to raise
against the Chinese government (although this in 2006 and 9.5% in 2007. The total GDP the city's profile and draw further investment. All of which
is on a reciprocal basis - if the home State of between January and June 2005 reached further contributes to future growth and demand for property.
the claimant allows Chinese citizens to make 6.7 trillion Yuan Renminbi (RMB) (£466bn), a
claims this will be allowed, if not it won't). China growth driven by exports and largely private As China becomes and ever greater international
also has dual taxation agreements with 78 sector investment. This is one of the largest powerhouse, Shanghai will continue to grow in importance as
countries; including the UK. growth rates in the World. a global financial centre. This means that the local economy
and real estate market have many years of growth driven by
strong economic fundamentals ahead.
(investinshanghai.co.uk)
Hong Kong residential real estate including house, condo,
penthouse, and villa, in order rent it out. By way of
renting out the property, it can fetch you a
attracted many European real estate investors. A
specialty of Hong Kong Property Law is that all of
the property found here belongs to government, ie,
Once described as a 'desolate rock' area, the minimum of at least HK$ 100,000 per year. all real estate in Hong Kong is held under leasehold
city has now been transformed into a great title. Hence, those who are interested in property
financial, trading and business centre. Indeed, it However, when you consider Hong Kong real estate investment buy an agreement or a lease for a
is an international city, with an amazing mix of for renting purpose and that too to the region's period ranging from 50 to 999 years.
the cultures and sophistication from both east expatriate community, it is important that you
and west. Many reputable international invest in some of the most exclusive areas of the A real estate or property in the city can be either
companies functions with Hong Kong as the city. On contrary, if you are planning to invest in solely owned by one person or through jointly by
base for carrying out their core business property here in order to sell it out after some several investors. However, joint investment may
activities. times, then you should go for such a real estate be usually in the form of tenant or a joint tenancy.
within the area that has strong potential for Further, a property can also be owned through a
In recent years, the city has also gained much
Hong Kong developments. There are some people who company structure. But, in case, if a company
popularity as an educational center, the • 3 hours flight from Singapore • 3 hours flight from Malaysia consider real estate investment as a means to would like to conduct its business through the
evidence for which is hundreds of foreigners
• 2 hours flight from Thailand • 9.30 hours flight from Australia enhance their business activities. purchase of a property on lease, then it should be
including Europeans and Canadians studying in registered with the Hong Kong Companies Registry.
CHINA
world. For instance, the Peak - a much favored One of the obvious benefits of investing in property In addition, every type of lease should be listed at
many of the reputable educational institutions
residential area in the city, located between Victoria here is accessibility to one of the world's leading the Hong Kong' Land Registry.
here. In addition, the place is a hot tourist
Peak and Mount Gough - is one of the most trade market. Since no specific restrictions are
destination with an incomparable array of
expensive areas in the world. imposed to buy a property in the Hong Kong, it A plethora of real estate firms have now come
attractions such as soaring towers, artistic
edifices, interesting museums, beautiful parks benefits many foreigners to invest here. Further, forward to find and acquire your dream property in
Likewise, many of the posh destinations in the area the laws and regulation involved in the purchase of the city. Some of them even provide the services of
and gardens, ancient shrines, and much more.
claim to have record prices. According to some real estate here is quite liberal. Above all, investing professional lawyers to help you in carrying out
Above all, the destination enjoys a great deal of
recent publications, the property price in the city in real estate can undoubtedly fetch you huge buying procedures, including listing on the Hong
autonomy except in the case of defense and
has rose to more than $ 3500 per sq ft or more profits. Kong Companies Registry and negotiation of
foreign affairs.
than $ 300 per sq mt. It is estimated that even a purchase. Additionally, there are also real estate
small house or apartment in the dull areas of the Since the city is a former British colony, its firms providing steps to arrange mortgages for the
Probably for these causes, many people from
city costs more than two million Hong Kong dollars. property law is structured on the basis of English purchase of property. (thestreetdirectory.com)
across the globe are now getting attracted to
Nowadays, people prefer to invest here due to a law. Every process in connection with acquiring of
invest in real estate here. Real estate in Hong
myriad of reasons. Some people may invest in a property in the place is governed by
Kong is regarded as one of the priciest in the
Conveyancing and Ordinance. This in turn has
Malaysia offers a real estate investment opportunity in one of the fastest growing
economies in the world. We believe the following factors make Malaysian real estate an
exceptional opportunity.
Malaysia's political and economic stability encourages a more than favourable climate
for investors locally and from overseas. A high literacy rate and widely spoken English
makes the country a preferred choice. Its GDP is expected to grow around 4% in 2010.
The likely appreciation of the Ringgit: The Malaysian currency is the third most
undervalued currency in the world and is 51% undervalued relative to the US Dollar,
according to the latest "Big Mac Index" published by 'The Economist'. The Ringgit is
widely expected to strengthen as government controls are gradually eased.
Liberal investment rules relative to other emerging markets: Malaysia has amongst the
most liberal property-ownership regulations for foreigners in Asia, with the process of
liberalisation continuing.
High development margins: Development margins are strong due to the increasing real
estate requirements of a rapidly growing and increasingly-wealthy population.
Growing competition between banks driving down lending margins: Decreasing lending
margins have a favourable impact on real estate valuations Increasing international
interest in Malaysian real estate, particularly from the Middle East.
Malaysia is the only country in South-East Asia which offers both conventional and
Kuala Lumpur
Islamic financing.
MALAYSIA
Property transactions are expected to exceed RM100 billion (US$32.8 billion) this year
compared to RM96.77 billion (US$31.7 billion) in the first 11 months of 2010. IP Global's Founder and Managing Director, Tim Murphy said recently that Malaysia's
property market is driven by owner occupiers and domestic consumption, not pure
Malaysia's Valuation and Property Services Department reported that the economic rampant speculation like many parts of Asia.
rebound has boosted up the overall property market with the residential segment
playing the main role in driving the property market. Malaysia is growing in reputation as the prime investment location in Asia because of its
stable property market and relative affordability. Investors across the region are
According to the department, transaction values in the residential sector between July seeking to diversify their portfolios with affordable, mid-range property and Malaysia's
and November last year increased 15.5%to RM22.6 billion (US$7.4 billion) from the well-regulated market is attracting the attention of buyers looking for long-term and
same period in 2009, while commercial property transactions rose 22.4% to RM9.78 relatively secure investment opportunities.
billion (US$3.2 billion).
Kuala Lumpur Compared with markets such as Hong Kong, where the property price is typically 5
Pulau Pinang was the state where the residential property sub-market recorded the times more expensive than that of Kuala Lumpur, Malaysia remains affordable. Property
highest growth rate of 9.7%. Kuala Lumpur, Selangor, and Johor were another three prices in the capital increased by only 3% over the past 12 months compared with 25%
major states that also recorded positive growth at 8.2%, 7.2% and 3.6% respectively. in Hong Kong and 38% in Singapore. It is predicted however, that due to the lack of
supply of mid to luxury condominium properties, property prices will continue to
Kuala Lumpur, London and the 'Big Apple' are where Hong Kong's savviest investors increase over time.
are now spending their money. Today, Hong Kongers are also investing in Malaysia
after almost a decade of preferring London, Singapore and New York. With Malaysia's
economy expected to grow 5.3% in 2011 and London's forecast to grow 3.8%,
investors are venturing across the globe to invest in real estate.
Phuket
century. The island is very much into rubber plantation now and
tin mining has seen its near end. The major source of income of
this island however comes from tourism industry and this place is
one of the most renowned travel destinations in the world. There
are
At loads
the hub of people
of South from
East Asia sits outside
Phuket- thepotcountry
the melting looking
of nationalities forward
from around to It's
the world.
doing business in this island. This island is surely a good place Hong
also very accessible for holiday makers from major destinations like: Bangkok, Singapore, KL, to
Kong and Taipei. Being internationally accessible enhances tourism growth and this coupled with the
invest in terms of business.the regional economy.
vast sums the Tourism Authority of Thailand (TAT) spends on promoting Phuket, means wealth
opportunities for property buyers looking to diversify their portfolio into holiday rentals.
While the rest of the world is grappling with housing market problems, Phuket, Thailand's biggest
island in the Andaman Sea, seems to be bucking the trend in a big way.
During the past four years, Thailand faced the challenge of two major events with a potential to drive
the country into ruin. The 2004 tsunami that devastated the coastal areas of Thailand, including
Phuket, and the military coup that ousted a democratically elected government just two years ago,
could have led to an economic catastrophe. There was concern that the thriving tourist industry would
grind to a halt, bringing down with it the flourishing foreign-owned housing market.
This worry turned out to be unfounded and it seems whatever effects the two events had on the
country's economy, they were short-lived.
The Phuket luxury market is not just keeping steady in bad times, it is actually growing by leaps and
bounds, according to a May article in Asia Property Report. A booming tourism industry has spurred an
interest in buying vacation homes in the country. More than 5 million tourists visited the popular Thai
island last year. During the same period, the number of tourists who came to the country as a whole
increased by an impressive 22.5%.
The economy of Thailand is considered to be lower middle income economy
which is highly dependent on export, which accounts for 60 percent of the There was a 32% rise in Phuket vacation home transactions during the second half of 2007, according
Gross Domestic Product (GDP). to CB Richard Ellis, Thailand's largest international property firm. During the same period, the value of
these properties jumped by 56%, while villa prices doubled from 2000 to 2006.
Thailand is considered as the second largest economy in Southeast Asia right
after Indonesia. The resilience of the Phuket real estate market is an indication of investor optimism and enthusiasm
about the future of the country despite recent political instability.
However, even with the economy of Thailand booming, the wealth spread is not
that high and Thailand is fourth richest nation per capita in Southeast Asia after The Phuket luxury property market is also driven by other factors. Phuket's high tourism season, from
THAILAND
Singapore, Brunei and Malaysia. Thailand also acts as an anchor economy for November 2007 to March 2008, saw robust luxury condominium sales (from $2,985 to $4,153 per
the neighboring countries like Laos, Burma and Cambodia which are least square meter), according to a report by Jones Lang LaSalle, a real estate money management and
developed countries in that region. services firm. The study also pointed out that a majority of the buyers in this market still come from
traditional sources such as the U.S., U.K. and Scandinavian countries, but the trend is toward an
Thailand has a strong automotive export industry along with electronic goods increasing interest from Russian and Middle Eastern countries, as well as citizens of other Asian
which have helped to strengthen the baht after the Asian financial crisis. countries, as these regions prosper and produce their own wealthy class.
However, agriculture is still the traditional income generator but there has a
steady decline over the years as exports of other industries have increase.
Historically, the economy of Thailand has been a tiger economy with growth
rates of 9 percent or more annually from the late 1970s to 1996. However, the
1997-98 Asian financial crisis had repercussions and it was only in 2001 that
the economy of Thailand regained momentum.
The Thaksin government of Thailand took office in February 2001 with the aim
Phuket
of increasing domestic demand and reducing the country's reliance on foreign
trade and investment. However, the government changed its policies and its
promoting domestic as well as foreign investments.
Unfortunately for Thailand, 2005 was not a good year with rising oil prices and
inflation. Prior to that, in 2004, Thailand lost a lot income because of the
Tsunami which wreaked havoc in the country. This was followed by a military • 1 hours flight from Singapore • 1 hours flight from Malaysia
coup in late 2006 causing a stagnation of economic growth in the country. • 1 hours flight from Thailand • 9.30 hours flight from Australia
Dubai
Dubai is expanding at a very fast pace. Numerous high rises are scheduled to open
doors to new tenants during the next 1-4 years. Considering the blueprints and pictures
of the high rises and the expanding Dubai economy, thousands of families are investing in
those apartments, with a vast majority of those families as Muslims and from the west.
When people think about buying real estate in a city, they consider many factors. Dubai
has become a major attraction for a large number of people and for many reasons. A few
facts about Dubai are as follows that may cause you to reconsider your options as well:
Although many think of Dubai thriving on oil money, as of 2005 numbers, 94% of Dubai's
GDP came from non-oil sources.
With various types of visa / immigration and other restrictions in various Middle Eastern
Countries, Dubai through its open trading policies has become a de facto hub for doing
business in the Gulf and the Middle East.
Dubai's population is set to rise from 1.5 million in 2006/2007 to 4 million in the next 5 -
7 years - mostly because of foreign influx. An estimated of 80% of people living in Dubai
are expatriates.
Dubai not only allows foreign investment but encourages it to the extent of allowing
investors to apply for residency permits. This fact alone has driven numerous investors
flocking to the region. Dubai living offers prospects property ownership and / or property
leasing for 99 years. As a result of this, residents can apply for a residency permit that is
renewable every three years.
Considering that a lot of Muslims (even the ones settled in US and Europe) would like to
be closer to their countries of origin as well as closer to the holy cities of Makkah and
Mandinah, this has provided an excellent option for their long term settlement plans.
Considering a small city, Dubai operates more than 150 TV channels. This fact alone
helps portray the diversity of the region and the level of trade and business volume
(considering that a lot of TV channels depend on advertisements as their source of
revenue.)
The UAE has an open economy with a high per capita income and a
... the most
celebrated city
sizable annual trade surplus. Successful efforts at economic
diversification have reduced the portion of GDP based on oil and gas
output to 25%. Since the discovery of oil in the UAE more than 30
The UAE Central Bank and Abu Dhabi-based banks bought the largest
shares. In December 2009 Dubai received an additional $10 billion
loan from the emirate of Abu Dhabi. The economy is expected to
• 7 hours flight from Singapore • 7 hours flight from Malaysia Whether you end up loving or loathing its ostentatious nature, under the surface
continue a slow rebound. Dependence on oil, a large expatriate
• 6 hours flight from Thailand • 15 hours flight from Australia another Dubai exists. Head to the Heritage Village during Ramadan or the DSF and
workforce, and growing inflation pressures are significant long-term
you'll witness a different Dubai, where local Emiratis take joy in their songs, dance and
challenges. The UAE's strategic plan for the next few years focuses
traditions. Spend a few fascinating hours by the creek, watching the dhow (traditional
on diversification and creating more opportunities for nationals
wooden boat) traffic and the abras weave along the waterway while smoking some
through improved education and increased private sector
sheesha. Walk the streets of the tranquil, restored Bastakia area or take a stroll
employment.
through multicultural Karama or Satwa. You'll find this Dubai a million miles removed
from the credit-card frenzy of the five-star hotels. Whatever you end up preferring,
Dubai is a fascinating experiment and a city-state that's like no other.
The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $47,400. In this market-oriented economy,
USA
private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions
to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals'
home markets than foreign firms face entering US markets.
The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the
professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits.
Since 1975, practically all the gains in household income have gone to the top 20% of households. The war in March-April 2003 between a US-led
coalition and Iraq, and the subsequent occupation of Iraq, required major shifts in national resources to the military. Soaring oil prices between 2005
and the first half of 2008 threatened inflation and unemployment, as higher gasoline prices ate into consumers' budgets. Imported oil accounts for
about 60% of US consumption.
Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population,
sizable trade and budget deficits, and stagnation of family income in the lower economic groups. The merchandise trade deficit reached a record
$840 billion in 2008 before shrinking to $506 billion in 2009, and ramping back up to $630 billion in 2010. The global economic downturn, the
sub-prime mortgage crisis, investment bank failures, falling home prices, and tight credit pushed the United States into a recession by mid-2008. GDP
Seattle... Rock on Seattle
Seattle screams coffee, Bill Gates and the birth of grunge rock, but
there's more than meets the eye in Emerald City. Over three million
contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial Pacific Northwesterners call Seattle home, as did Jimi Hendrix and
Washington is the largest city in the Pacific Northwest. Located between
markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. Bruce Lee. The continental United States' north westernmost point,
Puget Sound and Lake Washington in King County, of which it is the county
Seattle sits on the Pacific Rim with sweeping panorama views of
seat, and overlooking Elliott Bay, Seattle is nicknamed The Emerald City. The
The government used some of these funds to purchase equity in US Puget Sound, the San Juan Islands, the Olympic mountain range
city is a damp green gem, with an abundance of evergreen trees throughout,
banks and other industrial corporations, much of which had been returned and majestic Mount Rainier. Home to the University of Washington,
Seattle and spectacular views of the Cascade mountains to the east and the Olympic
to the government by early 2011. In January 2009 the US Congress Seattle is the nation's most educated city, with the highest
mountains to the west. The cultural and business centre of the Pacific
passed and President Barack OBAMA signed a bill providing an additional percentage of college graduates. Seattle offers its residents a high
Northwest, the city is the home of the Space Needle, Boeing's aircraft
$787 billion fiscal stimulus to be used over 10 years - two-thirds on quality of life and travellers a memorable visit, with opportunities to
assembly plants, Microsoft, Amazon.com, Nintendo of America, Starbucks,
additional spending and one-third on tax cuts - to create jobs and to help golf, sail, ski, kayak, camp and hike, as well as urban pleasures like
and the University of Washington, as well as a vibrant arts scene and an
the economy recover. Approximately two-thirds of these funds were world-class restaurants, stylish shopping, luxurious hotels and
excellent park system.
injected into the economy by the end of 2010. vibrant nightlife, including, of course, an always-evolving live music
scene.
In March 2010, President OBAMA signed a health insurance reform bill
being demolished for redevelopment rather than completed this year, Their family nucleus must consist of at least one other Singapore Permanent
resulting in a shortage of supply. Singapore's prime office rents, which Resident (SPR) or Singapore Citizen. There are therefore very few foreigners
climbed 20% to 11.80 Singapore dollars (US$7.78) a square foot last year, living in HDB estates.
could reach S$14.50 by the end of 2007 and S$18.50 in 2008, Citigroup
estimated in a recent research note. Although the government has released Singapore Citizens or SPR may buy properties in Executive Condominium
new land for construction projects, "the prime office-space shortage will (EC) projects that are in their 6th to 10thyear from the date of Temporary
As it aims to become a playground for Asia's rich, Singapore is shifting
persist for at least three more years," a Goldman Sachs report predicted. Occupation Permit (TOP). Foreigners who are not SPRs and corporate bodies
its economy from manufacturing to tourism and financial services,
Properties in Singapore are sold either on a freehold or leasehold tenure. A are not eligible to buy an EC in the open market within this period. Permanent
building yacht marinas and casino resorts next to the gleaming
freehold title enables the owner to hold the property in perpetuity, whilst a residents who wish to buy an EC should contact the developer in the location
skyscrapers that house its private banks. On the ground, this translates
leasehold title confers possession upon the purchaser for the duration of the they are interested in. Foreigners and corporate bodies may buy resale ECs
into a growing influx of prosperous foreigners - and fast-rising demand
lease. On expiry of the lease, the title and interest in the property revert to in the open market from the 11th year of the EC project, calculated from the
for luxury homes and prime office space.
the State. date of TOP.
Prices for Singapore's private residential properties rose 4.8% in the first
Since mid-2005, foreigners can buy apartments known as strata-titled
quarter of this year from the previous quarter, after gaining 10% in
properties in all buildings without needing approval from the Singapore
2006. Prices for the island's top-end and midrange residential real estate
Authorities. Previous rules about the apartment block needing to be higher
could be up as much as 35% for the full year, predicts UBS Securities.
than 6-storeys and classified as a condominium no longer apply.
Rents in the sector should surge 30% to 40%, Citigroup forecasts.
A foreigner (any person who is not a Singapore citizen, Singapore Company,
Singapore limited liability partnership or a Singapore society) will still need
approval from the Singapore Land Authority (SLA) to buy land-titled property
such as houses, bungalows and vacant plots of land.
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