The world’s wealthiest people may start using suborbital space travel, pioneered by investors such as Richard Branson, to cut travel times and expand their property empires, according to Knight Frank LLP.
London’s mansion dwellers and their desire for cavernous new basements, subterranean swimming pools and home cinemas are attracting a wave of private lenders as banks stung by the financial crisis shun risk.
Oxford Properties Group, part of a Canadian pension fund, agreed to purchase 450 Park Ave., a 33- story building in Manhattan’s Plaza District, an area with some of the highest office rents in New York.
Singapore’s top executives are making more money than those in Hong Kong, with the gap expected to widen as living costs in the island republic rise, according to human resources consultant Towers Watson & Co.
Billionaire developer Kwek Leng Beng said last year that skyrocketing prices and restrictive rules made buying residential land in Singapore “suicidal.” That hasn’t stopped international developers from rushing in.