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Donald Trump recently stated that his real estate company will move into South Africa in a joint venture with local businessman Neill Bernstein. The two real estate honchos will work on a variety of properties, including golfing, hotel and residential developments. They have signed a 10 year agreement, and over the next couple of years plan to develop a myriad of new properties for sale.
Bernstein, owner of Devland Holdings, has indicated that there are a number of projects already in the works. He recently took Donald Trump Jr., the eldest son of Trump and the man expected to lead the venture in South Africa, on a tour of potential projects and sites in South Africa.
More information: Other Trump articles
Donald Trump is moving his focus to Australia with Sydney as the city set to benefit.
Having just released his Palm Beach property from his book, he is planning to move by the end of the year and real estate throughout the Harbour city is set to be changed forever. Property in Sydney is set to lead the world in innovation and luxury and those looking to rent or buy are to benefit.
Trump Tower Sydney will be the most luxurious real estate in the country with 24 hour Luxury Concierge and apartments that resemble luxury penthouses. With the recent examples of the world’s tallest buildings in the wo9rld produced from forward thinking economies such as Dubai and Qatar, could Sydney truly reach such levels?
The serious question, however, is whether Trump will really leave New York and help turn Sydney into the next Capital of the World?
Is this a dream or is this true?
The answer, unfortunately, is no.
All the hype and all the excitement spoken about above is all just that – HYPE!
If only Sydney was heading toward construction of the tallest or most luxurious property in the world. If only we were looking at world leading eco-friendly buildings which are self sufficient and utilizing both solar and wind to power the building. The development at Frasers Broadway in Sydney is certainly progression in the right direction.
A city, however, with so much belief in itself has the opportunity to prove so much more.
Why is Sydney not developing this thought process or anything similar? The state governement of New South Wales, so caught up in it’s own misery, in-fighting and lack of focus, is ultimately full of talk and very little action
A wise friend once told me that opportunity is like a $100 note – very few people reach out and grab it when it floats in front of them.
Sydney has every opportunity to be a global city – it would be such a shame to see such chance float by.
To update you on a story recently posted by Marquette Turner, Donald Trump’s $US100 million Palm Beach property has reportedly been purchased by Russian billionaire, 41 year old Dmitry Rybolovlev. Rybolovlev, who is ranked number 58 by Forbes in the World’s Rich List, is Chairman of the Russian chemical’s company UralKali.
The Wall Street Journal reports that, despite the magnificence of the mansion, Rybolovlev plans to demolish the 33,000 sq foot property – clearly the purchaser sees the value in the size of the estate (6.5 acres), including 475 feet of frontage on the Atlantic Ocean.
Perhaps Trump could have perhaps made a greater return if he’d have demolished the property himself two years ago rather than making the cosmetic renovations during the hotter market.
Donald Trump has sold the Palm Beach estate he bought for $US41.35 million in 2004 for $US100 million.
The lowdown of what the buyer is getting for their money:
- 6 acres
- 475 feet of oceanfront
- 62,000-square-foot home with nine bedrooms
- Media room
- Wine room
- Art gallery
- 4,100-square-foot conservatory
- Two guest houses
- 48-car garage
The 80,000-square-foot property at 515 N. County Road sits on 6 acres and has 475 feet of unobstructed oceanfront, making the price per linear foot $210,526.
The deal reflects the still-booming mansion market in Palm Beach, a market seemingly immune to the gyrations in the residential real estate industry.
The unnamed buyer is considering tearing down the recently remodeled mansion and possibly subdividing the property, according to sources. Although bulldozing an 80,000-square-foot luxury estate might seem bizarre for the average homeowner, it’s nothing new for ultra-rich buyers willing to pay huge sums for precious oceanfront property.
Trump paid the fire-sale price of $41.35 million for the estate in 2004. He bought it from bankrupt Abe Gosman, a former health-care magnate and Palm Beach philanthropist, then poured $25 million into a renovation overseen by Kendra Todd, winner of the third season of Trump’s TV show The Apprentice. The redo resulted in a 62,000-square- foot mansion with nine bedrooms, a ballroom, a conservatory and a 48-car garage.
But as proof that even the super-rich are not completely immune to the whims of the market, Trump did have to come down from his original asking price of $125 million.
When he put the estate up for sale in October 2006, it was the most expensive property listed for sale in the United States at the time. The part-time Palm Beach resident, owner of Mar-a-Lago, only recently dropped the price to $100 million.