US Economy Returns to Growth

After a year of the largest economic decline in nearly 7 decades, the US economy has finally returns to growth. The US economy showed signs of recovery as the US Department of Commerce recorded an economic growth rate of 3.5% during the third quarter. Consumer spending was up nearly 3.5% as well, the largest quarterly rise in about 2 years.


US New Home Sales Decline


After 5 months of rising new home sales in the US, figures for September were down 3.6%. Many economists attribute the drop to the end of the first-time homebuyer tax credit. The decline was most evident in the South and West, while new home sales were up 35% in the Midwest.

FDI to Vietnam Plunges


Foreign direct investment into Vietnam is down 12% so far this year and new commitments for foreign investment projects is down over 70%. FDI had previously been key to helping Vietnam balance its trade deficit.


Australia, Cook Islands Sign Tax Info Exchange Agreement


The Cook Islands and Australian governments have signed a tax information exchange agreement, further closing the door to any possibility of Cook Islands returning to its former tax haven status. Since nearly 50,000 Cook Islands citizens live in Australia and New Zealand, this treaty is seen as favorable to Cook Islands tax authorities as well.

World's Largest Economies See Signs of Recovery

FDI to BRIC countries Rising


The world's largest developing economies posted significantly higher FDI figures, signaling that the worst of the global foreign investment slump is behind us. Brazil's inward FDI rose to $ 2.5 B in September, up about 25% over August totals. Russia recorded a significantly lower net FDI outflow, indicating the return of foreign investors into the Russian economy. FDI to China rose nearly 20% in September, while FDI to India inAugust was up 40%.



Chinese Economic Growth Accelerates


China released news that its growth rate for the first 9 months of 2009 averaged slightly above 7%, but that things picked up to 8.9% in the third quarter. A significant rise from the low rate of 6.1% in the first quarter, China's economic stimulus is being credited for creating a quick rebound.


US Real Estate Market Rebounding


We finally have news to suggest that the US housing market has begun to rebound. Although pending US home sales rose for the 7th consecutive month in August, existing home sales were still slumping. However, a report released today by the National Association of Realtors showed that existing home sales in the US rose as much as 9.2% in September, the first such rise this year.



Tax & Law


Singapore recently reported a surge in offshore banking activity from Russians, but in the face of mounting pressure to improve transparency, it has changed its attractive tax structure. This week, Singapore passed a tax disclosure law aimed at forcing banks and trusts to provide information if a treaty nation requests specific information for tax purposes.

The World's Fastest Growing City

Hong Kong, Shanghai, and Beijing are undoubtedly popular and powerful, but no longer China's fastest growing cities. There are several lesser-known, emerging cities that are developing at lightning speeds--but none of them quite like Chongqing. Unless you have personal or business ties in China, chances are you've probably not heard of Chongqing.


Located on the Yangtze, some 900 miles inland, it's the heart and economic engine of southwest China. Its metropolitan region (municipality) has the population of California crammed into an area the size of South Carolina. Despite its massive size and growth, it still has a long way to go, making it one of China's best investment destinations.


Statistics show that Chongqing is not only the fastest growing urban area in China, but perhaps in all the world. An estimated half million people move to Chongqing's urban core annually. So you can imagine that the local real estate market is expanding fast, giving investors great opportunities. Chongqing's real estate sales area (total space within the market) and the value of its real estate market grew by roughly 38% and 64% respectively since 2008. Unlike most cities, Chongqing has already recovered from the real estate market slump as both home prices and second-hand home prices grew by 0.2% and 3.1% respectively this year.


With an expanding and robust economy, there's no wonder why the city's population is booming. From January to June 2009, local economic growth stood at an enviable 12.6%, slightly less than last year's 14% increase.


As China's automobile sales continue to climb at over 20% annually, Chongqing will certainly benefit. It's one of four major automobile manufacturers and one of the largest industrial metals producers in the country. In fact Chongqing is becoming both the Detroit and Pittsburgh of China. For instance, Ford Motor Company's largest Chinese plant is located in Chongqing and over one-third of all China's motorcycles are produced here as well. Thanks to a growing demand for Chinese exports, Chongqing Iron & Steel Company is set to become the largest shipbuilding steel producer in China by 2010.


This mega city is also becoming the new Silicon Valley of the East. Recently, Hewlett-Packard (HP) and Foxconn Technology Group announced their joint $ 3 B investment in a laptop manufacturing hub in the heart of Chongqing. The news follows closely behind the local government's announcement that the city will host China's first 3G Technology Park, which includes major IBM and Infineon manufacturing operations.


Manufacturing is only half of what is presently driving Chongqing's growth. The city is a growing center of both research and finance. Chonqing is known for its research in traditional medicine, contemporary pharmaceuticals, and agriculture. Moreover, the government plans to make Chongqing a major financial hub by 2015 with the building of the Chongqing Financial Center in the Jiangbeizui business district.



To keep up with Chongqing's growth of commerce, an astonishing 1.5 million square feet of office space is added each year. This includes more commercial skyscrapers in the pipeline than anywhere else in China. The following are presently under construction:


- Jialing Fanying, 468 m, 105 floors (pictured at right)


- ASE Center R6 at 463 m, 88 floors


- Sun Valley Tianhe Tower 450 m, 95 floors


- Chongqing International Financial Center, 431 m, 102 floors


- Financial Street, 430 m, 81 floors


- Chongqing Global Financial Building, 331 m 81 floors


- Lanko International Mansion, 330 m, 72 floors


- ASE Center R5, 320 m, 61 floors



- Yingli Tower, 318 m, 72 floors (pictured at right)


- Poly International Plaza, 300 m, 60 floors



Huge investment in transportation and general infrastructure is underway with the building of several dozen subway lines as well as thousands of miles of roads and highways, including the completion of over 900 miles of highways by the end of 2009 alone. There's also a new airport terminal in the works, a new railway container terminal, an inland free trade zone--well, the list goes on from here.


Now you get the idea that Chongqing still has a long way to go, and its astounding rate of growth provides ample investor opportunities.

The Steel City Refuses to Rust

After years of economic restructuring and in spite of a dwindling population, the Steel City is perhaps better than ever. Pittsburgh must be doing something right because The White House chose it as host of the upcoming G-20 Summit of world leaders. City officials hail the event as a chance to showcase the major improvements and attract future events. The Summit also confirms Pittsburgh's new status as a world-class city and the great American success story.


There are myriad reasons behind this success. For one the area is home to the 8th largest concentration of Fortune 500 companies nationwide, partly behind Pittsburgh's low unemployment rate and its remarkable personal income growth rate. Steel and coal giants, US Steel and CONSOL are still big players in town but the University of Pittsburgh Medical Center is now the area's largest employer. Another top employer in town is PNC Bank, which grew to become the country's 5th largest financial institution through acquisitions and its avoidance of the sub-prime mess. These large institutions are all packed into the nation's 6th densest central business district--a great place to locate your business as well.


Don't let its small population of roughly 315,000 people fool you. Pittsburgh definitely has all of the normal big city amenities: from major league sports teams to world class museums and theaters; from first-rate shopping to skyscrapers--this is definitely a major cultural and economic hub. Thanks to all this town has to offer, smart investors know that Pittsburgh is both undervalued and poised for economic growth.


It seems like just about everyone's talking about the Steel City:


- Forbes named Pittsburgh its 6th best city for job growth in 2009.


- The Economist declared Pittsburgh the 29th most livable city in the world, beating out every other city in the US.


- Mercer ranks Pittsburgh as having amongst the lowest costs of living nationwide.


- The New York Times can't seem to get enough of the Steel City, calling it both "cool" and "hip."


A renaissance is currently underway in the heart of town. Old factories and historic office buildings have recently been converted into condos, bringing thousands of new residents downtown. Several miles of the riverfront are being redeveloped and major projects are sprouting up around town:


- North Shore Center. Early this year the North Shore redevelopment brought hotels, office buildings, and retail to the area adjacent to the stadiums and new casino.



- Three PNC Plaza. Two weeks ago, Three PNC Plaza, the first skyscraper to be built since 1987 opened. A LEED certified building, the project includes a Fairmont hotel, condos, retail, and office space.


- August Wilson Center for African American Culture. Opened earlier this year, the center brought a new theater, museum, and classrooms to Pittsburgh's cultural district.


- Casino Gaming. The Rivers Casino opens this week on the city's North Shore, bringing 1000 jobs and the potential for more tourists.



- New Arena. The Consol Energy Center, is currently under construction to provide a new home for the NHL champions, the Pittsburgh Penguins. The arena will open in time for the 2010-11 season.


- Point Park University Expansion. The university recently purchased buildings along Wood Street in hopes of creating an attractive and livable university neighborhood in the heart of town. It plans to build a new academic village, a theater, residential halls, student centers and a park.


- Light Rail/Subway North Extension. The ambitions plan calls for an underground station at the convention center and a tunnel connecting to the North Shore.


For the aforementioned reasons and many more, Pittsburgh is one of America's best up-and-coming investment destinations. Below, we've listed our top 3 ways to invest in the Steel City:


1. Downtown Housing. Since only 5,000 people actually live downtown and due to a growing sentiment amongst suburbanites to live closer to their downtown jobs, an investment in downtown housing could be a good idea. There is growth in this housing market through the conversion of older buildings or developing on parking lots; however, the city government is providing incentives to developers who convert vacant upper levels of office buildings into residential space. Downtown's small size and high density of office buildings means that there is potential for property appreciation.


2. Downtown Retail. Locate a restaurant or other retail establishment in the re-emerging Market Square district or the North Shore. These areas are currently undergoing revitalization; Market Square Place is within walking distance from several Fortune 500 companies and the North Shore center gives you access to sports fans and casino goers.


3. Single-Family Homes. Nearly 50% of Pittsburgh homes have sold for less than $ 100,000 this year, but prices could go higher once the national real estate market gets better. You might be able to find a better deal than you think, especially if you're willing to buy a fixer-upper. Check the
city's inventory as well as other sources for foreclosed and distressed properties.

Top 10 Fastest Growing Economies

The global economic recession doesn't mean that every economy has to suffer. The following list features countries that are still witnessing stellar economic growth rates, although slightly lower than in previous years. The majority of the countries on our list are in Sub-Saharan Africa, which are both diversifying away from primarily commodities-based economies and developing infrastructure. The remaining countries on the list are in Asia. Western nations, specifically in Europe suffered the biggest declines and aren't expected to see positive growth until 2011.



10. The Gambia +3.8%

Down considerably from last year's growth rate of more than 6%, Gambia was affected by a decline in commodities prices. Agriculture makes up the vast majority of the West African nation's economy, but tourism is now its fastest growing sector. Most tourists are European, but future growth in the industry will depend on expanding to include American tourists as well.










9. Indonesia +4.2%

Although its economic growth has slowed to a 6-year low, continued growth in government and consumer spending has kept the economy afloat. Most government and private sector development has gone primarily to the telecommunications and transportation industries which saw double-digit growth rates.






8. Tanzania +5.3%

Tanzania continues to grow, albeit less than last year, as it is less dependent on agriculture. Significant growth has been seen in the tourism, services, and mining sectors. The mining industry has grown so much that Tanzania is now Africa's third biggest gold producer, with metals exports growing at an average annual rate of 4%.






7. India +5.8%

After growing by nearly 9% in 2008 and close to 10% in 2007, things have definitely slowed down. A sharp decline in FDI of over 40% is certainly to blame, as the US overtook India as the second largest recipient of FDI this year. Economists are optimistic that economic growth will pick up in 2010, but don't expect a return to its normal 9% rate until 2011.









6. Djibouti +6.5%

A key port of entry to East Africa and the Red Sea, Djibouti has been a key recipient of FDI in the region. Most of that investment has gone to the service sector, which makes up over three quarters of the economy. Although, Djibouti's banks have benefited most, future growth will be in infrastructure--specifically with the development of Al-Nour city and intercontinental bridge projects.










5. Republic of Congo (Brazzaville) 6.5%

The growth of the oil sector over the past decade has contributed to its robust average annual growth rate of over 7% from 2005 to 2008. Home to a portion of the world's second largest rain forest, there is potential for future growth in eco-tourism as well as infrastructure development in the capital, in which 1/3 of the country resides.










4. Ethiopia 6.5%

The government's program to pave and expand the country's roadways is mainly responsible for continuing economic growth this year. As a result, travel times have been cut in half, vastly improving the flow of commerce.

Despite a slower demand for the country's chief export, coffee, lower oil prices have pretty much balanced things out. Future growth is seen in the growth of luxury exports such as leather.






3. China +7%

After slowing to a rate of 6.1% during the first quarter, China recently returned to its normal average annual rate of nearly 8%--in line with government forecasts. The "easy credit" stimulus program pushed the growth of both consumer spending and exports back to double digits. Nonetheless, the government cautions that recent growth depends largely on the stimulus due to a worldwide decline in demand for Chinese goods.









2. Malawi +7%

Surging corn, tobacco, and telecommunications industries have propelled Malawi to become Africa's fastest growing economy. Although things have slowed down this year, the country is still growing briskly. Further growth can be seen in other agricultural products like tea and sugar as well as in the eco-tourism sector thanks to Lake Malawi and wildlife.







1. Qatar +9%
Not nearly as popular as other Persian Gulf investment destinations, Qatar offers the world's fastest growing economy and one of its wealthiest consumer markets. With 15 Billion in oil reserves, the petroleum industry has long been the cornerstone of its economy. As a result, the national GDP per capita is one of the world's highest at over $65,000.


In order to maintain economic growth, Qatar has realized the need to diversify. With 5% of the world's natural gas resources, the gas industry has recently become the largest contributor to the national GDP. But, government plans to boost tourism to 1.4 million annual visitors will help revive its retail and hospitality industries.










* Average economic growth rates calculated for the first half of 2009 using respective national government and IMF data resources. Images courtesy of respective government tourism agencies.

Building a New Lagos, Nigeria

Sub-Saharan Africa's largest city in its most populous country is now open for foreign direct investment. According to the World Bank, Nigeria remarkably grabbed nearly 30% of all FDI to sub-Saharan Africa last year, making it one of the continent's premiere investment destinations.


The recent development of Nigeria's oil sector is responsible for having catapulted its GDP nearly 200% in just two short years. Oil contributes roughly 20% to the national GDP and over 10% to US oil imports. Amidst global economic decline, the Nigerian economy is still expanding at nearly 3% this year and the country continues to increase both oil and non-oil exports.


As the government improves its banking sector and diversifies its economy away from the oil sector, it has attracted foreign investors that realize the country's vast potential for further economic growth. A testament to both the growth of the non-oil economy and brisk expansion of capitalism in the third world, Nigeria is home to a surging number of wealthy entrepreneurs such as billionaires, Aliko Dangote (sugar, flour, cement), as well as Femi Otedola (oil).


Lagos, Nigeria's chief port and financial hub, is at the heart of all the action. The Lagos state government is rather serious about attracting foreign direct investment (FDI) and is taking measures to open itself to international investors.


Not only has Lagos become more business friendly, it has a host of ambitious projects underway that promise to transform it from a chaotic, third-world city, into Africa's world-class center of commerce, trade, and tourism.




Housing Developments


Nigeria's Federal Housing Authority will increasingly rely on private developers to fill the shortage of housing. There is a strong need for new housing developments in the country's largest metropolitan area of over 15 million people. At an estimated average annual rate of over 4%, Lagos is one of the fastest growing cities in the world. By UN estimates, there will be over 25 million people in the Lagos area by 2015.



Developers now have a chance to help Lagos solve its urban housing crisis by providing either affordable or luxury housing units--or both.



The Lagos state government is willing to provide land and support to developers who are equipped to construct housing units--especially for low-income dwellers. Although there are many areas of town that require new housing units, there are a few mega-projects in the works that are partially designed to meet these needs.







In its early stages of construction, Lekki will be a city within a city, complete with not just housing, but office space, hotels, tourist attractions, a free trade zone, a shipping port, and an airport. In order to give you an idea of just how massive this project is, the government's master plan calls for housing for nearly 3.4 million people!




The next mega-project underway is Eko Atlantic City, another mixed-use project that will incorporate new housing developments. Slated for 8 square miles of land reclaimed from the Atlantic Ocean, this new community will soon boast modern infrastructure, pricey real estate, and access to big businesses.



Investment Properties


Both residential and commercial investment properties in Lagos have appreciated over 200% in 2008. Because demand for housing is so high, the potential for a huge return on real estate investments is high as well.


Before investing, it's important to consider the following information:


- By law, Nigeria has NO land ownership


- Property investing is only possible through a 99-year leasehold for which you get a certificate of occupancy (COO) from the state government and pay an annual fee


- After expiration of the land lease, the land is returned to the state government and the structure remains with the private owner



Property investment trends indicate that most international investors choose to build multi-unit residential structures or invest in commercial real estate projects. It's common practice for Nigerian property owners to request rent payments for several months in advance, so you should too.


Lekki Free Trade Zone Business Opportunities


Lagos is modeling the Lekki Free Trade Zone after Dubai's successful Jebel Ali Free Trade Zone in hopes of attracting more foreign direct investment. Lekki promises to be the shipping, industrial, and business hub of not only Lagos, but of all of West Africa. As an incentive for doing business in the zone, goods will be duty-free, companies may be 100% foreign-owned, and capital will not be subject to exchange controls.


Lagos Energy City Opportunities


Officials are working to convert a portion of the Badagry Town, just west of Lagos, into a massive oil and energy-related business community. At an estimated total cost of $ 1.8 B, Energy City will be complete with a light rail, a tourist/convention zone, as well as a separate zone that caters to oil and gas companies, government agencies, and other private enterprises. Again, the state government is open to private developers with the resources to construct commercial buildings.


Alternative Energy


A good way to participate on Nigeria's solar power industry is by providing it to villagers. According to Kadiri Hamzat, the Lagos State Commissioner for Science and Technology, it costs just $ 83,000 to set up a solar power system in a village of about 5,000 people. Considering that it costs over $ 1 Million to connect a village to the national power grid, solar energy is extremely cheap.


In a world that is still unconnected, electricity can enable these villagers to improve their quality of life.


At just $ 83,000 per village, large solar energy providers could easily contribute charitably to villagers by building their solar power systems. Such generous efforts will undoubtedly improve the image of your solar company and serve as further evidence for why we should continue to invest in the solar industry.









Although Lagos may seem attractive, there are two common deterrents: bureaucracy and safety. Government officials are certainly making a strong effort to attract foreign capital; however, bear in mind that the government still has a long way to go. Bureaucracy is frequently blamed for the excessive amount of time it takes to do business, but that is changing. By comparison, Nigeria ranks well amongst sub-Saharan African countries when it comes to ease of doing business.


Foreigners shouldn't assume the worst when it comes to safety because Nigeria's overall violent crime rate is lower than that of the UK, France, Switzerland, Canada, and of course the US. Furthermore, crime in Lagos state has dropped significantly in recent years in spite of explosive population growth and remains behind the Nigerian Delta region.


In the world of emerging markets, it rarely gets better than Lagos: explosive growth of both population and wealth; development in every direction; growing oil, gas, and alternative energy industries; government cooperation; and potential for tourism. Need we say more?


*Images courtesy of Lekki Free Trade Zone Corporation & Eko Atlantic City Corporation
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London Is Ripe for Investing

As rental and real estate prices hit 16 year lows, London might finally be ripe for international investment. The British capital once known for being one of the world's top 3 most expensive cities has become relatively affordable--at least by London's standards. Based on Mercer's 2009 annual survey of expensive cities, London is presently less expensive than both New York and even New Delhi. Thanks to a significantly weaker British Pound Sterling and a housing market bust, new opportunities in up and coming neighborhoods abound.


Of course, these opportunities won't last for long. London will once again re-claim its title as one of the most expensive and most popular cities. At the heart of London's re-emergence will be the 2012 Olympics Games. The games and all associated projects promise to inject billions of dollars in investment into the local economy. Construction on a new Olympic Park and Village is underway and will undoubtedly transform the previously blighted, industrial East End in the Lower Lea Valley. These surrounding communities are now London's hottest up-and-coming investment destinations.



Olympic Park & Village


Over 3,300 housing units will be created for Olympic purposes but will be available to the public after the Games have ended. This will serve as one of city's newest neighborhoods, right next to the newest big park to be built in London in over a century.





Stratford


Locating in Stratford gives you extraordinary access. Located directly east of the Olympic Park in the Newham borough, you're in the center of Olympic venues. The area is home to a new town center, dubbed "Stratford City," which has converted an old rail yard into a town center complete with new shopping centers, housing, and high rise office towers.


Transportation to Heathrow, London's busiest international airport will be mitigated with the addition of the Crossrail underground rail line. The rail station will be linked to Stratford's busy underground hub station. Stratford will also welcome an international rail station, linking the community to the "Chunnel" (High speed Eurostar link underneath the English Channel) and providing easy access to Paris and Brussels.


Home prices in the area did not hold well during the recent real estate bust; however, we expect that to change. Stratford's face lift and new infrastructure will add value to property. Home sales currently average amongst the lowest in all of London at just 212,000 GBP or just $ 338,000.



Hackney (Hackney Central, South Hackney, Shoreditch)


To the west of the Olympic Village and directly east of the City, lie the East End neighborhoods of Hackney, one of London's most cosmopolitan communities. Once plagued by a bad reputation, the borough has recently become gentrified and has attracted a horde of cafes, bars, and art galleries. A new Tube extension will link Hackney Central station to the more affluent Chelsea on the West End.


Home prices in Hackney actually rose about 3% in 2008 compared to a city-wide slump. The average home sells for 311,000 GBP ($ 497,000) or 40% less than in Westminster, home to Buckingham Palace and Parliament. It's important to consider that those 311,000 pounds would have converted to about $ 606,000 had you bought at this time last year.


Bow


Located in the borough of Tower Hamlets, Bow is another of London's most accessible places. Of course the name of the borough is synonymous with the Tower Bridge and the Tower of London, both of which are located here. The area is at the crossroads of the reemerging East End to the Northwest, Stratford and Olympic Park to the Northeast and The Isle of Dogs/Canary Wharf business district to the South. It has a Tube station and is served by the new Docklands light rail system.


Bow is one of the most undervalued residential areas north of the Thames and the average home price is 310,000 GBP ($ 487,000). A year ago, that same price in sterling would have been $ 620,000.



Greenwich


With its strategic location and important role in the Olympic Games, Greenwich is a superb investment destination. Located across the Thames from Canary Wharf, on major rail lines, and close to London City airport, this previously sleepy borough has awakened. Thanks to its waterfront, parks, and the famous Millennium Dome, Greenwich will host more than one-third of all Olympic venues. As a result, the borough council offers support services to businesses who wish to benefit from the games by locating here.


Aside from business opportunities, Greenwich offers among the best property investment opportunities in the city. Home prices here average just 242,000 GBP or roughly $ 381,000, making it one of London's most affordable areas. Of course a year ago that same price in quid would have been over nearly a half million dollars.




For Britons, London real estate offers a nice bargain, but for Americans, properties are available at fire-sale prices. While everyone would enjoy the pleasures, conveniences, and glamour of Kensington, Chelsea, and Westminster, the best buys are in the reemerging areas well to the east of Her Majesty, the tourist traps, and square mile financiers.


* Sources for real estate price information: BBC and Land Registry of England and Wales.


* Photos courtesy of: Greenwich Council, London 2012 (ODA)

Goa: India's Small Wonder

Located some 360 miles south of Bombay, lies Goa -- India's smallest state with the most to offer. With its major port on the Arabian sea and an emerging tourism industry for an increasingly wealthy clientele, Goa is one of the world's premier investment destinations for the years to come. As a result, it has become the country's richest state by gross domestic product per capita and its economy is growing at an astounding 8% annual rate.


Despite recent economic growth, Goa's chief city Vasco da Gama and its capital Panaji are not your typical Indian boomtowns. With under 100,000 people each, both cities are bereft of high density, skyscrapers, and congestion--and that's what makes Goa so attractive.


Business Opportunities in Tourism:

Goa is the place to wince the wealthy, young, and hip flock for the beaches, fun, and serenity. Although the state's pristine beaches are its main attraction, shopping, golf, and historical sites drew nearly 3 million visitors last year. What's unique about Goa is its diverse architecture that includes that several World Heritage sites like the Mahalsa Hindu temple, the Portuguese Basilica of Bom Jesus, and the breathtaking gothic-revival Bombay High Court of Goa. Tourism is Goa's mainstay but much growth is to be expected with the rise of the Indian middle class and Goa's increasing awareness abroad.


Business Opportunities in Offshore Gambling


Similar to riverboat and cruise gaming, Goa has begun a new industry in offshore casinos. Goa is the only place in India that allows casino gaming. Thus far, there are 5 ships that offer it, but Goa's Chief Minister Digamber Kamat, has hinted at the opportunities for more. Remember, Goa state officials are actively competing with China's casino mecca, Macau. If they're successful at attracting Indians who gamble in Nepal and Persian gulf tourists who frequent Macau, then
Goa can expect to reap tens of millions of visitors annually.


Investment Properties


While much of the world endured two or more years of declining home sales and prices, Goa has recently seen a surge in interest, mainly from expats and retirees who find it too cheap and too scenic to pass up. Before thinking of buying properties in Goa, be prepared and fully aware of foreign property ownership procedures:


- Foreigners should obtain a 6-month visa and plan on actually staying for 180 days.

- Next, you must return to your native country and request a 5-year residential visa through the Reserve Bank of India (RBI).


- Finally, upon approval, you may return to India and purchase your property.


Individuals otherwise cannot own property in Goa without having taken these steps. So the sooner you get started, the closer you are to owning a piece of this paradise.


Goa is truly a unique place and can provide you with great investment opportunities. Although Goans are known to be both peaceful and hospitable, there is a growing sentiment against foreign property ownership as well as offshore casinos. While both are still allowed, we thought it was important that you were fully aware of what's going on so that you could make the best decision.


Photos courtesy of: Goa Tourism Development Corp.

Ajman: The Affordable Dubai

Forget about investing in Dubai or even Abu Dhabi; when it comes to development and property value appreciation, Ajman has more room for growth. The smallest of all the self-governing United Arab Emirates, Ajman is growing fastest and is seen as having the most potential to attract future investment. Crown Prince Sheikh Ammar bin Humaid Nuaimi has ambitious plans to use all available resources to develop the emirate into a modern, world-class business center and tourism destination.


Located just 20 miles Northeast of Dubai, Ajman is far more than a mere bedroom community. With its strategic location on the Persian Gulf, superb natural harbor, and pristine shoreline, it's well situated to become the world's top investment destination. It has its own thriving port with a duty-free zone and modern
infrastructure to support local and foreign-owned shipping business operations.


But the real reason for considering Ajman is the amazing property investment opportunities. While most of the world saw property values decline over the past 2 years, Ajman's real estate market was alive and well. In fact, property values have increased by a whopping 100% since 2007, compared to a 30% drop in Dubai.


Foreign investors see continuous growth as prices here are still considered dirt cheap. Average costs in Ajman are just $165 per sq. ft., about a third of what it costs in Dubai. That's why its population has ballooned by over 50% in the past 2 years and foreign investment is growing at an annual rate of 7%.



Major Projects in the Pipeline:



Ajman International Airport


Construction on the new $ 3.3 B Ajman
International Airport is presently underway. Once complete in 2011, the airport will handle an estimated 1 million passengers annually. The 6 million sq. meter terminal will feature an aviation school, a large duty-free shopping zone, and commercial space including several towers.






Ajman Marina


This $ 3 B project is in the works to become the city's tourist hub. Another freehold area and free zone, Ajman Marina enables foreigners to conduct business, especially suitable to the hospitality industry, to fully own housing units, or take advantage of duty-free shopping. In addition the plan includes schools, parks, and yacht clubs. The entire project is expected to be complete by 2013.






Ajman One



Led by AQAAR, a government-related development company, Ajman One is designed to create one of the UAE's largest middle-income property communities--something severely lacking
in this country.


Spread over 12 residential towers, this development gives foreigners an excellent opportunity to invest in relatively affordable property in the UAE. It's worth mentioning that prior to 2002, it was nearly impossible for foreigners to fully own any property.




Ajman Uptown


Although in its early stages of development, Ajman Uptown has already sold 70% of its space. The first stage of the low-rise and mixed-use project is expected to becomplete by 2010. The finished project will render another mini-city equipped with its own office space, shopping centers, schools, parks, and recreational amenities.




Al Zorah


The Al Zorah Development Company and Solidere International is
building a 5 sq. mi "hi-tech city" with beaches, resorts, restaurants, shopping malls, office space, and housing
units. The largest of all the UAE's developments this year, investors are pouring in over $ 60 Billion into this project.


Intended to be a self-sustained city, it will eventually have its own hospitals, schools, and marinas. In addition it has served as a leader in the green building trend in Ajman; buildings in Al-Zorah city will use 35% less energy than conventional buildings.








Emirates City


A project of 12 high-rise towers, lakes, parks, schools, and shopping centers, Emirates City is half-way sold out. A freehold development, Emirates City enables foreigners to fully own property at attractive prices.



Foreigners interested in Ajmani property should know that they can receive a year-long visa after having bought a residence and after receiving a "no-objection" letter from developers. Given the strong economic growth of Ajman and its rapidly appreciating property opportunities, we're sure that you'll find an investment in Ajman to be worthwhile.


Photos courtesy of: UAE National Media Council, Tanmiyat Group, Al Zorah Development Company and AQAAR


View Original Article at InvestDest.com





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DC's Top 10 Up & Coming Neighborhoods

Washington DC and its metropolitan area have recently attracted quite a lot of attention. For one, the city was just named the top investment destination according to a 2009 survey of the world's top foreign real estate investors.


Secondly, the area is home to some of the nation's fastest growing and wealthiest counties like Loudoun County, Virginia which has grown faster than all but 4 counties and has the nation's highest median household income. Fairfax county, the metro area's most populous place ranked as the nation's second wealthiest county and nearby Howard county, MD grabbed the #3 spot.


Lastly, the DC area has been recognized for its robust and increasingly diversified economy, which held up quite well in spite of recent economic turbulence. Here, unemployment is around 4%--well below the national average.


With so much to offer, there's no wonder why DC has become the new place to be. Its proximity to Virgina, consistently listed as Forbes' most business-friendly state in the US, makes the metro area an attractive place to do business. But businesses want prestige and access to lawmakers, media groups, universities, lobbyists, and legal groups. Thus the central core of DC has become one of the hottest real estate markets in the world.


Within the past decade, DC's development has been explosive, but it's not nearly over. The city has begun one of the largest waterfront projects in US history. The project calls for developing thousands of acres of the underused property along the Washington Channel and Anacostia River. Ambitious revitalization plans for neighborhoods close to the central business district are already underway and have quickly attracted a host of investor interest.




1. H Street, NE (Atlas District):


This strip is the bustling heart of Washington's re-emerging East End. Located within walking distance of busy Union Station, affluent Capitol Hill, Gallaudet University, and the new NoMa business district, H Street is a busy thoroughfare teeming with artists, small businesses, and growing investor interest.


Within the past few years, the area has welcomed the reopening of the Atlas theater, H Street Playhouse, and has welcomed new bars, cafes, clubs, retail, and luxury condominiums such as the one in which former mayor Tony Williams resides.


What makes the area a perfect up and coming neighborhood for your investment is the wide availability of profitable opportunities. Commercial space and housing prices here are far cheaper than in other neighborhoods in Washington, at least for now. The city is moving fast on a plan to bring a street car line as well as other developments.



2. New Near Southeast (Capitol Riverfront District):


At the epicenter of Washington's master-planned waterfront community is Near Southeast. It's hard to believe that in less than 5 years, it was an under-used, blighted semi-industrial area.


Located south of the capitol and wedged between I-395, the Washington Navy Yard, and the Anacostia river, Near Southeast is an emerging community with a lot to offer. In just two years, the neighborhood welcomed new hotels, office buildings, including the US Dept. of Transportation's headquarters, the Washington Nationals' brand new ball park. Along with the additional thousands of new residents, Near Southeast has become a busy and vibrant area.


Future plans for the area include several major mixed retail, office, and housing communities, a revitalized waterfront park, and a possible light rail route.



Further information:
www.capitolriverfront.org




3. NoMa (North of Massachusetts Ave):

The area north and east of the capitol and Union Station has been fully transformed into a huge office park with a new Metro station, cheaper office rents than downtown, but proximity to Capitol Hill. With neighbors like CNN, CSPAN, XM Satellite Radio, and the future home of NPR, NoMa is becoming Washington's own media mecca.


Several projects are underway that will bring new office space, housing units, hotels, and retail by 2010. One of the largest projects in the planning stage includes the redevelopment of the city's largest wholesale and farmer's market.




4. Mt. Vernon Triangle (Convention Center East):


Bounded by the convention center to the west, Verizon Center (local professional sports) and Chinatown to the south, NoMa and I-395 to the East, Mt. Vernon Triangle is all about proximity. The area was created from former parking, used car, and vacant lots into a largely residential area. Several condominiums and a new Safeway grocery store have already opened, but so much more is to come. Once complete, thousands of new residents, mainly young professionals and students will inhabit the area, bringing with them a demand for more retail, restaurants, and entertainment.


5. Hill East (Stadium-Armory Area):


Wedged between Capitol Hill and the Anacostia River, Hill East is on its way to becoming one of the hottest places in town. Minutes from downtown, the neighborhood is home to RFK stadium, the DC Armory, Stadium Armory Metro.


Hill East is home to a planned mixed use waterfront community on the 67-acre campus of a former hospital. Plans call for a new waterfront park, offices, town homes, and retail. Meanwhile, investors can get in on the expanding demand for multi-family units.



6. St. Elizabeth's/Poplar Point:


The area includes Poplar Point, an underutilized waterfront park and the 300+ acre campus of one of America's most famous mental asylums--St. Elizabeth's. The project began with the redevelopment of the larger neighborhood in order to bring a new metro center at Congress Heights, a new shopping center, and new home communities.


Now the Dept. of Homeland security will bring its headquarters and thousands of employees to the St. Elizabeth's campus. The master plan calls for development of remaining land, affording newcomers breathtaking views of the Anacostia River and downtown.


Unfortunately, funding has slowed the Poplar Point project, which city officials had hoped would attract a new soccer-specific stadium for the DC United. No officials aren't expecting any major changes to the site until after 2010.




7. New York Avenue East (Brentwood, Landgon & Ivy City):


Nearly 55,000 vehicles use New York Avenue each day making it one of Washington's busiest thoroughfares. Commuters, visitors, travelers, and truckers pass by the area giving you access to a large potential consumer market


For years, the area has been home to the headquarters of BET (Black Entertainment Television) and Washington Times, but now it's attracted a slew of new neighbors. Within the last 5 years, the it has welcomed the city's only Home Depot, as well as new hotels such as a Fairfield Inn.


A number of new projects are scheduled for this area just East of NoMa, South of Rhode Island Avenue Metro station, and West of the National Arboretum including: re-development of the old Hecht's building, one of the city's finest examples of Art Deco, a new Arbor Square mixed-use project, and the revitalization of adjacent semi-industrial streets.


8. Petworth, NW:


Already one of DC's densest and most diverse places, new projects have been launched to revitalize the main thoroughfares of Georgia Avenue NW. The area is increasingly host to multi-family unit investment projects. Located in an area bounded by Howard University to the South, Walter Reed Army Medical Center to the North and four major hospitals to the East, this area is one of DC's most popular up and coming neighborhoods.


Petworth is in the heart of two major redevelopment projects--McMillan Reservoir and the campus of Armed Force Retirement Home. Both areas will host new mixed-use areas with thousands of housing units, office space, and retail.


9. Southwest Waterfront:


Originally redeveloped in the 1960s, the city has once again decided to improve its first waterfront community. Located south of I-395 and north of Fort McNair and the National War College, this neighborhood is overlooked and underdeveloped, giving you great investment opportunities.


You'll enjoy the excellent skyline views, the proximity to Reagan National Airport, Downtown, East Potomac Park golf course, and the New Nationals' stadium.


SW Waterfront is already home to the city's open-air seafood market, one of the city's favorite seafood restaurants, the new 5-star Mandarin Oriental hotel, as well as a handful of clubs and shops. As part of the city's massive waterfront project, it will soon undergo drastic change. Plans call for a revitalized Waterside Mall, a new waterfront promenade, an aquarium, new hotels, shops, housing, and office space.



10. 14th Street/Columbia Heights, NW:



In just 2 years, Columbia Heights quickly became one of DC's most sought after neighborhoods. For a long time, it's been home to the city's largest El Salvadoran communities, the largest Ethiopian Community outside of Ethiopia, as well as an increasingly young, professional class.


Recent developments brought many new cafes, restaurants, and retail. In 2007, the area welcomed the city's first Target store and other large retailers. Since then, several condominium projects have been built but trends show that future development will mainly stem from refitting homes into multi-family units.

Photos Courtesy of DC.gov

Panama's Colon Free Zone Gives You Access to the World

In a land where economic growth overshadows the gloomy world economic outlook, Panama's Colon Free Zone (CFZ) is the perfect place for your business to thrive. While the US saw a record annual decline in retail sales last year, both annual and fourth quarter 2008 statistics were up over 10% in Panama. Thanks to the $ 5 B canal expansion project, future economic prosperity is almost certain - specifically for the CFZ.




Located on Panama's northern coast, where the canal meets the pristine Caribbean shoreline, the CFZ offers unparalleled access to world consumers. With over $ 7 B in trading activity, Colon is home to the second largest duty-free port in the world:


- Hong Kong is the largest importer of CFZ goods, giving you direct access to the growing Chinese consumer market


- Roughly 15,000 Panama Canal Tourists spend money on duty-free goods in Colon


- Over 1 million conventional tourists visit Colon each year and the free zone is the top attraction


- Proximity to Panama City (a scenic 45-minute drive), with the largest banking center in Latin America


The Colon Free Zone is treated as a special administrative region of Panama, one of the world's most business-friendly countries. Any foreign individual or corporation may operate here by presenting the necessary applications (found here), evidence of incorporation, and additional references (usually from a bank). Your main options include:


- Seek a 20-year land lease and build-to-suit (warehouse, etc.)


- Lease commercial space from the CFZ Administration


- Purchase existing commercial space from the CFZ Administration


- Purchase existing commercial space from another company (requires CFZ Administration approval)


The benefits of operating in the free zone are quite obvious:


- No commercial license required


- No minimum amount of start-up capital


- No taxes on imports and re-exports


- No corporate income taxes


- Sales of your goods are always tax-free


- Tax credits applicable if a Panamanian employee quota is met


If you thought doing business anywhere in Panama was seamless and inexpensive, then you'd be even more amazed at all that the CFZ has to offer. Along with a booming economy in a safe, strategic locale, the CFZ is unmatched anywhere else in the Americas.