What does Dubai have in common with Hainan Island, China? The Answer: China's infamous real estate speculators of Wenzhou. I was recently pointed to a juicy background story at India Times of global property speculation leading from Wenzhou across the globe to Dubai and then back to Hainan Island where just one month earlier, the Wenzhou gang descended upon this tropical island paradise in a well timed frenzy of property speculation, even by fast rising Chinese property market standards. Millionaires from the isolated coastal city of Wenzhou, a centre of Chinese private enterprise, have fanned out across China and overseas over the last decade in search of property that they buy, and often quickly resell at a profit. They may collectively face about 1 billion yuan ($146.5 million) in losses as the Dubai real estate market contracts, the head of the Wenzhou SME Business Development and Promotion Association said on Wednesday. This story broke back in December revealing that in fact it was Wenzhou native Hu Bin, chairman of Shanghai Zhong Zhou Group, who laid out $28 million to purchase one island of the World Islands project set for luxury development and now looking more like a desert mirage. Post Dubai crash, Wenzhou investors are looking for the bargains there once again. "Since the recession on real estate in Dubai, I've led three groups of investors to Dubai to investigate properties," said Chen Zhiyuan, the president of Wenzhou Chamber of Commerce in the United Arab Emirates. According to a February report in China Daily, "Wenzhou, China's private capital powerhouse in the southern province of Zhejiang, is among the richest areas in the country and the birthplace of self made billionaires who are manufacturing clothes, shoes, and other small commodities like lighters." This story broke back in December revealing that in fact it was Wenzhou native Hu Bin, chairman of Shanghai Zhong Zhou Group, who laid out $28 million to purchase one island of the World Islands project set for luxury development and now looking more like a desert mirage. Post Dubai crash, Wenzhou investors are looking for the bargains there once again. "Since the recession on real estate in Dubai, I've led three groups of investors to Dubai to investigate properties," said Chen Zhiyuan, the president of Wenzhou Chamber of Commerce in the United Arab Emirates. And group purchases, especially those made by people from Wenzhou, a booming city in Zhejiang, could make up half of the housing sales, he said." So there you have it; more rich people, in this case the Wenzhou real estate speculators making their speculative moves, swooping down Dubai style on Hainan Island to suddenly raid, goose and disrupt market values to grab their profits and head home. More so, this kind of real estate action only further reminds us of the bubbly real estate expansion taking place in China. A report from New York based broker Cushman Wakefield indicates China overtook the US as the world top property investment market last year and did so with the expectation the market will remain strong even with lower reliance on debt for property financing. They say real estate investment in China more than doubled to $156.2 billion last year, while the total for the US slumped 64% to $38.3 billion. No question which side the global bread is buttered on. So do the innocent folks who got excited and hopped on a plane to Hainan Island to line up behind the wizards of Wenzhou find themselves left holding the bag? It seems so as prices have already begun cooling back down 20% according to several nice oceanfront property listings I am aware of locally along with real estate sales centers sans customers. The annual Chinese New Year season of joy, family harmony and propaganda winds down once again. Silly me, back in my Sanya 3rd Quarter Real Estate Review I called the market top in property when prices were already a ridiculous 25 35,000rmb per square meter for the prime luxury properties in the area. Well I obviously got my head handed to me on that one courtesy of the wizards of Wenzhou creating this bizarre Macau style sucker's frenzy. That's good for innocent folks who were already holding property and find their values higher but bad for the folks who bought from the Wenzhou landlords who were buying and selling before the ink was dry and hopping the plane back to Wenzhou all the richer for their infamous exploits. What more does Dubai have in common with Hainan Island? Due to the still relatively low levels of financing required for most of China's property purchases, hopefully not the bust that followed. If you're loaded up with credit card debt and having trouble geting by on $50,000 per year, just come to China and then you'll really feel poor. Mario Cavolo has been based in China for over 10 years. Information in this article comes from sources believed to be reliable. Mario Cavolo is not a registered investment advisor and does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. His research, point of view and opinion are informational and educational only. Air Jordan 7 Retro Orion 2011 ,Air Jordan 14 Sport Blue Air Jordan 4 Retro Fire Red 2012 Air Jordan 10 Doernbecher Air Jordan 6 Infrared 23 Air Jordan 9 Calvin Bailey Air Jordan 10 Charlotte Bobcats Air Jordan 12 Retro Cool Grey Team Orange Air Jordan 13 Birmingham Barons Air Jordan 8 Bugs Bunny 2013 Come on. It's pretty easy. 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Provide The Latest Styles Cheap Air Jordan 7 Retro Orion 2011,Air Jordan 5 Oreo A manhunt is on to nab him. The incident came to light on Thursday night after the woman's husband found her weeping. "The principal, Srinivas, had called the attender to a room after students left for the day and raped her. She was staying in a shed on the premises of St Peters English Medium School," DCP (North East) T R Suresh said. The woman was subjected to medical examination that confirmed rape. Investigations revealed that Srinivas, who also stays in the vicinity, fled the city after the incident and switched off his cellphone. A special team has been formed to nab him. At the time of the incident, the attender's children were at home and her husband was away at work in a tea shop nearby. A case of rape under Section 376 has been registered against Srinivas. A 10 year old girl studying in class III was killed after a mini truck carrying hollow bricks ran over her near her residence on Mecca Masjid Road in Gangondanahalli on Friday night. Another person was injured in the accident. Mehak Taj, a student of Vidya Sagar School, was returning from tuition and had nearly reached her house when the truck rammed two autorickshaws around 8.30pm, killing her. Another person, Manjunath, was injured and is undergoing treatment at KIMS Hospital. "Mehak, who was standing on the right side of the narrow road, was run over. The driver has been arrested and has been remanded to judicial custody, police said. A contractor from Hennur was run over by train at Byappanahalli. His body was found by railway police on Saturday morning. The deceased, Naveen, 35, owned two earth movers and had gone missing on Friday night. Relatives have alleged that he may have been killed by some rivals. Railway police are investigating. A worker at a construction site in RBI Layout, JP Nagar VII Phase, was killed after he slipped from the fourth floor of an under construction building on Saturday afternoon. Bheema, 40, a resident of Kadirenahalli, died on the spot. A case is yet to be registered. In another incident, Vidyaranyapuram police have registered a case against the management of a private polytechnic (industrial training institute), the contractor and the supervisor after a labourer slipped and fell from second floor of the college building under construction on Abbigere Main road on Saturday afternoon. The deceased is identified as Ramu, 20, a native of Mungal in Yadgir district. He was engaged in his work when he slipped and fell from the second floor around 12.30pm. About usAdvertise with usTerms of Use and Grievance Redressal PolicyPrivacy policyFeedbackLiving and entertainmentHot on the Web. Air Jordan 7 Retro Orion 2011 As a young child, it is very likely that at some point or another you entertained the notion of becoming a prima ballerina. Hair in a bun, pink tutu, shiny satin toe shoes that vision was all very magical and appealing, and as a child it was the sort of dream that was healthy and enchanting to chase. As an adult, however, the dream of becoming a prima ballerina might not only seem near impossible, it might even seem a little ridiculous. Surely as an adult you know better than to entertain such a fanciful dream, right? Well that is true to an extent, but ballet classes aren't just for children dreaming of becoming prima ballerinas. Adult ballet classes are becoming increasingly popular, as both dance studios and exercise studios see the potential benefits of adult ballet classes. One of the greatest appeals of adult ballet classes is the physical benefits that come along with taking ballet classes. The emphasis on stretching and muscle control help to limber up one's body, and the amount of barre work that is done in ballet class really do a lot to develop strength and control in one's body. From both the stretching exercises and the dancing that is done in an adult ballet class, many adult ballet dancers notice a very positive change in their body. Not only does working their muscles help give them a tighter, more defined figure, but the emphasis on posture and proper carriage of the body also does wonders in helping one's physical presentation. Many exercise studios are starting to offer adult ballet classes and target them towards women hoping to tone their bodies. Another way in which ballet classes for adults are helpful is that they are a terrific stress remover. Having a creative outlet is something that many adults do not deal with, and as a result they are constantly tense. Not only do ballet lessons give you a physical release, but their is also a musical element, and a lot of artistry that goes hand in hand with the dancing. It is difficult to hold tension and be stressed out when you are enjoying music and letting it move your body in a free fashion. Adults who may be interested in signing up for ballet classes may be concerned that they'll need fancy clothes for class. In most cases, instructors will let you wear workout wear that is form fitting, so they can see your body's line. For the more serious dancer, many online sites offer adult sized leotards and tights as well. As far as shoes go, you can usually find adult dance slippers at a dance store, or through an online retailer.
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