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[ Bursa, TURKEY ] Dagyenice Thermal Tourism Center in Bursa is scheduled for a construction start this May, according to published reports. Bursa’s famous thermal springs, renowned to have healing powers, is the major feature of the resort. The USD $2 billion tourism project encompasses 1,006 hectares surrounding a...
[ Ohrid, MACEDONIA ] Developer Sahara India Parivar has proposed a 240-hectare “Las Vegas”-styled development to include a casino, hotels, golf, and entertainment center for the Lake Ohrid area of Macedonia, according to its own media statement. The project has been named, “Saharayan Makeeduniya.” Sahara India Pariwar is an Indian conglomerate headquartered...
[ Budva, MONTENEGRO ] Bouygues Batiment International and Future Capital Partners have partnered in the development of a proposed resort hotel on a 100-meter seaside project site in Budva. Budva is one of Montenegro’s premier and popular resort towns, situated along a picturesque section of Adriatic coastline. In its website,...
[ Oslo, NORWAY ] The Norwegian sovereign wealth fund, Government Pension Fund Global, has emerged this year as the largest such sovereign fund in the world today. Norway’s fund is also known as “The Oil Fund.” According to rankings published by the Sovereign Wealth Fund Institute, Norways’s fund has assets...
[ Paris, FRANCE ] The tall residential towers planned for Hermitage Plaza in Paris’ La Defence district, received planning commission approval in March 2012. Several legal challenges have since been obviated. The residential towers will become Europe’s tallest buildings if constructed, surpassing The Shard (London) and Mercury City (Moscow). Hermitage Plaza...
[ Catalunya, SPAIN ] InvestIndustrial has acquired the remaining 50% ownership in PortAventura (Spain) from a holding company affiliate of local lender La Caixa. InvestIndustrial, under the leadership of Chairman Carlo Umberto Bonomi now has full control of the beleaguered theme park. InvestIndustrial has announced a capital expenditure plan...
[ RUSSIA ] Consultants have been retained to evaluate the feasibility of Magic World Russia. Magic World Russia is a proposed 600-acre theme park to be developed at a location approximately 50 kilometers outside Moscow. Phase One of the master-planned project includes Park Russia, two aqua parks, a specialty theme...
[ Megaluf, SPAIN ] A major destination resort under development in the southwestern area of Majorca. Part of the objectives for this mega-resort transformation, is the conversion of the highly seasonal six month tourist season, to nine months, even the possibility of a year-round resort environment. This beautiful location became a...
[ Moscow, RUSSIA ] Europe’s tallest skyscraper has topped out at 1,112 feet. The tall building is located in Moscow International Business Center. At its height, the skyscraper edges the Shard in London (1,017 feet tall) as Europe’s tallest building. Also referred to as Moscow-City, Moscow International Business Center...
[ Moscow, RUSSIA] According to Reuters, Morgan Stanley’s Real Estate fund is seeking to purchase the Metropolis Shopping Mall in Moscow, at a price that could reach $1.2 billion. Metropolis is an 81,500 square meter shopping center, located directly on Leningradskoe Shosse close to Voikovskaya station and easily accessible by...
[ London, ENGLAND ] Stable Investment Corporation, an arm of China Investment Corporation (sovereign wealth fund) has acquired a 10% stake in FGP Topco, the investment holding company for London’s Heathrow Airport. Other investors joined Ferrovial in providing the stake for purchase. Ferrovial will continue to hold a 36.65% interest...
[ London, ENGLAND ] The Carlyle Group has announced its intention to create a new urban town center on the south of the River Thames between the South Bank and Bankside. This new urban quarter will comprise nine new buildings of between five and 48 stories in height. The development...
[ London, ENGLAND ] London Resort Company Holdings Ltd. (“LRCH”) has presented an initial proposal for development of a theme park on the Swanscombe Peninsula near Dartford, outside of London. No financing plan for the project is in place, as of the day of announcement. The project is envisioned to include what...
[ Sochi, RUSSIA ] Representatives of the International Olympic Committee visited Sochi in October 2012 to inspect preparation efforts for this Black Sea resort’s hosting of the upcoming Winter Olympics. Sochi will host the XXII Olympic Winter Games and XI Paralympic Winter Games in 2014, as well as the Russian Formula 1...
[ Athlone, Co. Westmeath, IRELAND ] A one-stop trade and exhibition center for Chinese companies seeking to do business in Europe. The estimated cost of the five-phase 300-acre development is USD $1.8 billion. The Chinese business exhibition center will be located at Athlone Business Park Ltd. The project is in...
