BEATINTERNATIONAL
ÄGreece's Big Deal
Looking for a seaside resort area to develop? Check out the Greek island of Corfu, where the indebted country is accepting off ers for a 120-acre plot on the northeast coast. Greece is selling the "rights of surface," similar to a ground lease, for 100 years on the land about 24 miles from the city of Corfu. But it won't go cheap, nor will it be Greece's last property off ering. T e country needs to raise $66 billion by selling off assets, about half of which will involve real estate. It is committed to raising $25 billion by 2015.
"Latin America is key to our goal of opening between 50 and 200 new stores annually
worldwide. In Latin America, only 9 percent of total food consumption is made outside the home, compared with over 50 percent in the U.S., 20 percent in Asia, and 16 percent in Europe."
— Matias Goldenhorn, Yum Brands' Latin America/Caribbean business development manager
Americas' 5 Most Expensive Offi ce
Markets 1. Midtown Manhattan 2. Rio de Janeiro CBD 3. Sao Paulo CBD 4. Brasilia CBD 5. Washington, D.C., CBD
Source: Cushman & Wakefi eld
Markets to Watch
44 May | June | 2012
¬Germany was named the Country of Honor at the 2012 MIPIM conference, for its 20 percent increase in commercial real estate investment sales, which totaled €23.5 billion in 2011, 34 percent of which came from foreign
investment. More than 4,000 investors descended on Cannes, France, for the annual MIPIM real estate conference, many of them discussing low-risk investments, tight debt fi nancing, and urban development.
¬ In the last three years, more than 10 million sm of retail space and 2.5 million sm of offi ce space have been built in China's main secondary cities, setting the stage for their transition to top tier markets, according to Jones Lang LaSalle. More than 100 million sm
of additional retail and offi ce space is planned for China's top 50 secondary and tertiary markets, which is capturing the interest of both expanding international retailers and institutional investors.
Commercial Investment Real Estate