Jane Holzer and her husband dropped $2 million into quicksand.
Ms. Holzer—better known as Warhol acolyte Baby Jane Holzer—is suing Katherine Price Mondadori, widow of an Italian aristocrat over the dubious sale of hot Middle Eastern real estate, the Daily News reports: Read More
The Observer has learned that Kanye West, the multi-platinum rapper and Twitter super-user recently sent representatives to the Persian Gulf region to scout locations for a short film. The project, which will take a form much like his 30-minute “Runaway”—a hybrid art film and music video starring model Selita E. Banks that premiered on MTV in October, 2010—is to be filmed in March. Read More
The art-auction calendar in the Middle East continues to get busier, with Christie’s announcing that it will add a second day to its October sales of modern and contemporary Arab, Iranian and Turkish Art in Dubai. Read More
Israel is the fastest growing real estate market in the world right now. Foreign investors — including many a New Yorker — are snapping up property in the often troubled paradise. But that might be a mistake.
Global Property Guide ranked Israel the hottest housing market for the last two years. In the most Read More
So much for Karl Lagerfeld’s Dubai dream. Like many things in the Emirate, it has proven too good to be true, falling victim to the city’s collapse. Like the hundreds if not thousands of projects that have been abandoned before it, all that remains of the Isla Moda is its otherworldly renderings.
As The Read More
It’s been a while since we’ve read a good Dubai real estate disaster update.
This morning’s comes care of India’s NDTV. In a nutshell, vacancy rates are still rising, skyscrapers still remain incomplete, and purchasers of units in those incomplete towers are still unable to get their money back.
Here’s a snippet:
Apartment buyers who Read More
The United States and Israel are to blame for upcoming restrictions on Blackberry use in the United Arab Emirates, says Dubai’s police chief, Dhahi Khalfan Tamim. Addressing questions about an impending October suspension of Blackberry services by the UAE, Tamim told the daily al-Khaleej that the U.S. “is the primary beneficiary of having Read More
Even those who don’t adore Andrew Farkas give the guy his due: The New York whiz kid who conquered New York real estate before becoming Dubai World’s man in Manhattan is one sharp suit.
Consider this. In early 2009, well before Dubai World’s announcement that it would postpone servicing $26 billion in debt shook global Read More
The first issue of Bloomberg BusinessWeek landed in news stands today. What is it like?
First, the logo: “Bloomberg” is tucked discreetly between the the “B” and “i” in “Business.”
The front of the book runs about 30 pages, and offers short write-ups on the Fed, GM, and “What Lurks on the Books of Banks.” Read More
In the 1989 movie Field of Dreams, an Iowa corn farmer, played by Kevin Costner, hears voices in his head. The voices encourage him to build a baseball diamond in the middle of a cornfield. Those voices repeatedly tell him, “If you build it, they will come.” Apparently, these same voices were in the heads Read More
