Winter / Spring 2009
LUXURY HOMES AND INSPIRED LIFESTYLES AROUND THE WORLD
IN THIS ISSUE Piece de Resistance, 2009 Property Hotspots The American Dream Best of ...
Kitchen Confidential The Art of Cooking Founders Programme Fractional Ownership
Welcome to the Winter/Spring 09 issue of The Address.
I’m really pleased to say that we have received nothing but positive comments on our previous issue, and I want to express my sincere thanks to everyone who has got in touch with us. One of our long-standing clients in France wrote to us ”I read your 45-page magazine carefully as soon as I received it. It is a great job and I can imagine how long it takes to produce it and also all the energy you need to have to do something that perfect!” It is always very rewarding to be recognised for your efforts, and I’m delighted to say that this issue is bigger and, hopefully, better than our launch issue. The Address is totally dedicated to bring you the best in terms of luxury properties and inspired lifestyle features from around the world. The Address magazine showcases great opportunities for luxury living in some of the most sought-after communities across the world. You’ll discover in the magazine worldclass golf courses, renowned ski resorts, pristine mountain retreats, urban penthouses and captivating beachfront properties. Plus Food and Travel features. Don’t miss this issue’s Piece de Resistance – Altamer in Anguilla. There are not enough superlatives to describe how sensational this property truly is! The three villas are now being offered for private ownership (page 4).
You will also find in this issue, our homage to Best of …Africa…Asia…Caribbean…Central America… Europe…Middle East…North America (page 14), showcasing some of the most breathtaking residences currently available. A World of Opportunities gives you the chance to take advantage of some outstanding opportunities currently available including Founders Programmes in Dominican Republic and Scottsdale, Arizona as well as a Fractional Ownership in Samos, Greece and a Beachfront Estate Lot in Abaco, Bahamas for sale by sealed bid ( page 50). Other stories cover Property Hotspots 2009 (page 8) and SIPP Planning (page 58). Beginning on page 62, you will find The Art of Cooking, a celebration of some of the most inspirational cooking schools in Italy. Some are hosted by famous Italian cookbook authors and Chefs, while others are taught by native Italians who want to share their passion for Italian cuisine. I doubt that you will be able to resist the exquisite recipes in our Kitchen Confidential feature. Two very seasoned Chefs, Paul McMahon, Catalina Restaurant, Sydney and Jean Luc Fruneau, Sapori del Lord Byron Restaurant, Rome share some of their recipes(page 42) Since this publication is for you, please feel free to email or call me to ask questions, as well as give your input on what topics you’d like to see covered. Until then, happy reading… ANN ADENIUS EDITOR email@example.com
Contents Winter/Spring 2009
PIECE DE RESISTANCE
FOOD & TRAVEL
04 Altamer, Limited edition living at its best
42 KITCHEN CONFIDENTAL Top chefs share their recipes
FEATURES 8 2009 PROPERTY HOTSPOTS 40 THE AMERICAN DREAM EB-5 investment visas 58 SIPPs & OVERSEAS PROPERTY BEST OF ... 14 AFRICA 18 ASIA 22 CARIBBEAN 26 CENTRAL & SOUTH AMERICA 28 EUROPE 34 MIDDLE EAST 36 NORTH AMERICAS
62 THE ART OF COOKING A travellers guide to cooking schools in Italy A WORLD OF OPPORTUNITIES 50 FOUNDERS PROGRAMME Palmera de Cabarete, Dominican Republic & Ritz Carlton, Arizona 54 FRACTIONAL OWNERSHIP Halcyon Hills, Greece 56 FOR SALE BY SEALED BID The Abaco Club Ritz Carlton, Bahamas PRE-VIEW 72 MODERN HOMES WORLDWIDE WAIT, THERE’S MORE 74 SUBSCRIBE 75 CAN’T WAIT TO TELL A FRIEND
Cover Photo: Altamer, Anguilla www.theaddress.info
Limited Edition Living at its Best â€“ architectural signature beach residences on one of the most exclusive strips of beach in the world
Beautiful Anguilla, the most northerly of the Leeward Islands, has 33 beaches that are considered among the best in the Caribbean, but it is the almost mile-long crescent of pristine sand at Shoal Bay West that is the pinnacle of location. The International Gems of Altamer began in 2000 with the development of the first villa on Shoal Bay West. The developer’s vision was to create a relaxing beachfront retreat that featured state-of-the-art technology alongside objets d’art and contemporary furnishings with a country distinctive spirit. For the ‘ultimate connoisseur’, each beach residence is exclusively designed by the legendary architect Myron Goldfinger and combines sensational modern architecture and themed interiors with state-of-the-art technology. The villas range from 7,800 sq.ft to 10,000 sq.ft of interior space and from 4,100 sq.ft to 4,800 sq.ft of outdoor space (constructed) with 5-8 bedrooms. Each villa is set on 1-1.5 acres of beachfront land. Now there is an opportunity to own one of the existing three residences. Exceptional architecture hosting spacious and dramatic living spaces, impeccable service and luxurious amenities combined with its pristine setting ensure the most discerning property owner a truly breathtaking experience. We invite you to become an owner of this work of art. Prices from US$18 million. For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/ Altamer or call +44 20 7095 8703
One pristine beach, one legendary architect â€“ one priceless work of art.
Property Hotspots We asked a few industry experts to give us their top 10 tips for the property market in 2009
PANAMA After Panama announced its canal expansion project in 2006, GDP growth rose to 11.2%, outstripping China, and making Panama not only the fastest-growing Latin American economy but, according to the IMF, one of the fastest-growing economies in the world. The canal expansion is expected to bring in an additional US$13 billion in direct revenue for the first 11 years, following completion in 2014. Already, the canal project is estimated to be adding an additional 1% to the GDP annually. In addition, Panama City, home to the largest concentration of international banks in Latin America, continues to grow in importance as a financial hub â€” it hosts about 150 banks from all over the world.
Political and fiscal stability, combined with a currency matched on 1:1 basis with the US dollar and a mood of confidence, have triggered a construction frenzy. The World Travel and Tourism Council predicts revenue from tourism will double by 2018, creating a need for another 8,000 rooms, 1,800 of which will be added in 2009-10. All these plans are great indicators that the fledgling investment property sector is being built upon solid and sustainable foundations, backed by the Panamanian governmentâ€™s continuing commitment to a long-term programme aimed at making Panama more desirable and its people more wealthy. In addition, there are significant tax incentives offered to investors in Panama. For instance, some new construction projects are exempt from real estate tax for 20 years.
KOH SAMUI, THAILAND
The Dominican Republic is one of the fastestgrowing Caribbean destinations with an 8% increase in visitor arrivals in 2008 and aims to reach 5 million by 2012. As a result, The World Tourism Organization named in 2008 the DR the “Caribbean’s No. 1 Destination,” ending Puerto Rico’s 40-year reign. According to the Minister for Tourism, 25% of all travellers to the Caribbean pick the Dominican Republic as their destination Not only is the nation committed to maintaining its status as one of the most reasonably priced Caribbean destinations, but millions of dollars of investment are going into everything from golf courses to marinas and from upscale shopping malls to sports facilities. Dominican Republic already has more golf courses than any other Caribbean destination, with courses designed by legends such as Jack Nicklaus, Arnold Palmer, Gary Player and Nick Faldo. There are 27 courses either operating now, under construction or in the planning stages. For investors, a combination of increasing tourist numbers, low property prices and occupancy rates that average above 85% in the most popular areas can only be good news.
The number of travellers who flock to Thailand for its white sandy beaches, tropical climate and friendly, relaxed atmosphere is increasing by 20% per year and Koh Samui will continue to attract a great proportion of these visitors. The island offers the amenities of a developed destination, yet manages to retain the feel of a romantic tropical island. This, combined with its year-round sunshine, low cost of living and great hospitality, has made the island one of the most sought-after holiday and retirement spots in the world. Several luxury resorts are planned for Koh Samui over the next five years, and aircraft seat capacity on international flights is expected to increase by 62% to accommodate the rise demand. The island is very accessible, with direct flights from Bangkok, Singapore, Hong Kong, Kuala Lumpur and mainland China. Koh Samui has also adopted stringent building laws to protect the island’s natural beauty and to prevent the construction of the type of highrise developments which blight so many resorts around the world. This means that no buildings over three storeys can be built in certain areas and large properties cannot be developed on or near the beachfront.
SILVER COAST, PORTUGAL
The Silver Coast in Portugal has become one of the hottest properties in every sense of the word. Located on the west coast of Portugal, one of Europe’s most spectacular coastlines, the Silver Coast is significantly less developed than the Algarve and offers superior value and investment potential. Property on the Silver Coast is on average at least 25% cheaper than the Algarve, with prices rising by 10-20% annually over the last five years. Returns have consistently outperformed the Algarve. As well as offering close proximity to Lisbon and easy access to the airport, the region has breathtaking cliffs, long sandy beaches, medieval towns, charming fishing villages, fascinating historic and architectural sights to explore. The Silver Coast has been labelled the “real” Portugal. Strict planning restrictions aim to prevent excessive development and preserve the area’s natural beauty, which is one of the aspects that make the Silver Coast so attractive in the first place.
Real estate investors see in Vietnam the same opportunities presented by Thailand 20 years ago. In fact, many believe that Vietnam, with its breathtaking landscapes, friendly people and good food, will become the next Asian star thanks to its wide appeal to both holidaymakers and those seeking a second home. Vietnam’s recent policy changes on direct foreign investment are already attracting investors from around the globe, with an estimated US$44.5 billion plowed into projects in the first seven months of 2008 alone. Most of the newly licensed projects are in the real estate sector. There is also enormous potential for tourism. Vietnam enjoys a 3,300-kilometre-long coastline, much of which comprises untouched sandy beaches and forest hinterlands. Experts predict Vietnam has the potential to become a prime resort destination in Asia, similar to Thailand and Indonesia’s Bali. Luxury hospitality firms including Six Senses, Banyan Tree and Viceroy are already entering the country, signalling the start of Vietnam’s coming-of-age.
Morocco is appealing for a number of reasons: It is close – hardly any further than Spain It has good weather almost all year round It has a government that has committed itself to a 10-year infrastructure improvement plan with a view to boosting tourism. Much has already been done in the past seven years. Morocco has long been a favourite tourist destination for the French, and there are now more and more tourists coming from Britain and Ireland and quite a number are deciding to buy property with mortgages now available at sensible rates. There are, in effect, three different markets in Morocco: the Mediterranean coast, the Atlantic coast and Marrakech. Each is unique. But for investment purposes, the experts prefer Marrakech because there is not only a strong foreign market, but it is also highly favoured by Moroccans. In fact, many wealthy Moroccans have a home in Marrakech. This is important because when you sell, you are not solely dependent on one particular market.
Berlin represents one of the most attractive property markets in Europe, with prices currently below those of Prague, Budapest and Warsaw. A large majority of Berliners live in rented accommodation, mainly apartments. Only 14% of the city’s residents own their own homes, a figure extremely low by EU standards, and also significantly lower than the 42% home ownership rate in Germany as a whole. The resulting strong rental market presents an excellent opportunity for a buy-to-let investor looking for reliable and secure rental returns. In addition, there are signs of an increasing willingness among Berliners to purchase their homes, which in turn is creating a stronger resale market. With Germany’s economy dependent on the production of automobiles and consumer goods, there has been a slight downturn in prices recently as the downturn takes hold. However, the experts are still bullish on Berlin, forecasting that over the long-term, the city will be one of the great investment destinations for property buyers.
FLORIDA, UNITED STATES
Badly hurt in the U.S. property crash, Florida - with its renowned sunshine - still stands out as a property hotspot with property for sale at less than half the price it was selling for a year or two ago. Experts believe that the bottom of the Florida property market has been reached – or is very close to being reached – and that this is an excellent buy for capital growth over the medium term. Select and buy well and rental return rates of 4% or 5% should be achievable. With attractions such as Disney World, Universal Studios and the many golf courses, it is little wonder that Florida has become a leading tourist haven - more than 82.4 million tourists visited the state in 2007, which is among the world’s top tourist destinations. Thanks in large part to Miami, which is becoming a cultural and commercial centre for the whole of Latin America, Florida is also a business mecca. Trade between the US and Latin America is increasingly important, and experts believe this trend will accelerate. Property prices are traditionally low compared to other tourist meccas, and attract those seeking a second home, a good investment or a rentable property.
St. Lucia, recently voted by Condé Nast Traveller one of the four most beautiful islands in the world, is enjoying worldwide attention with a 7% increase in arrivals for the first eight months of 2008 over the previous year. Along with a booming tourism trade, St. Lucia benefits from a stable government and economy. It has a well-established real estate market, where buyers get a lot more for their money compared to more developed islands such as Barbados. Property prices in St. Lucia are currently 35-40% of the prices in Barbados, a gap likely to narrow in the next few years. A World Bank report has ranked St. Lucia, which benefits from good air transportation links, among the Top 30 places in the world in which to do business. Private property is well-protected on the island, where the legal tradition is based on British common law, with the highest court of appeal is the Privy Council in London. St. Lucia also gets top marks for its warm climate, stunning beaches, crystal-clear sea and charming people, making it a leading island destination in the Caribbean for North American, British and European visitors.
RIO GRANDE DO NORTE, BRAZIL Brazil offers some of the most beautiful landscapes in the world, with thousands of miles of unspoilt sandy beach coastline. Add an average temperature of 30°C, 360 days of sunshine a year and the added bonus of being free of hurricanes, tsunamis and earthquakes, it is not hard to understand Natal’s popularity. As a result, it is becoming a firm favourite amongst tourists, especially Europeans, who only have to fly seven hours to reach its sandy shores. The importance of tourism in this area is paramount and a huge new $560-million airport — expected to be the largest in Latin America and one of the seven largest in the world — is being built just outside the region’s capital, Natal. Once completed in 2011-12, a dramatic rise in visitors is expected as air carrier routes continue to be added and airlines compete for business. Brazil has been named as the host nation for the 2014 FIFA World Cup, which will bring in more tourists and turn up the heat on the property market. The opening of a David Beckham Soccer Academy in Cabo Sao Roque should also increase Natal’s global profile. The region is reported to have the cleanest air and the purest water in the whole of South
America — second in the world behind the Antartic. And in a recent survey, Natal was found to have the lowest crime rate and one of the highest quality of life rankings in Brazil. With Natal’s property market tied to growth in tourism, infrastructure and overseas private investment — experts predict that property investors will continue to see healthy returns. Not least high-end property is likely to be lucrative, since Natal is currently devoid of sophisticated luxury resort developments.
In summary, we think there are good property investment opportunities in many countries around the world, provided that you take advice and make sure you buy the right property in the right location at the right price. Go for quality property, as quality will always outperform inferior property. For more information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com, Tel: +44 (0)20 7095 8701 and Signature Residences Worldwide, www.signatureresidencesworldwide.com, Tel: +44 (0)20 7095 8703.
Raffles Estates in the Seychelles The Seychelles is synonymous with the world’s most beautiful islands and beaches. As nature intended – it’s one of the world’s best-kept secrets and ranks amongst the purest destinations anywhere Raffles Estates in the Seychelles is a residential paradise consisting of 23 villas on secluded lots adjacent to a signature Raffles Resort. Situated on 500 meters of stunning beachfront, the resort and estates will be truly unique. Private, relaxing, close to nature, yet offering the very best personalised pampering that money can buy and which only Raffles can deliver. Designed to maximize the stunning views of the Indian Ocean, these generously apportioned villas with large windows and expansive verandas will range in size from three to five bedrooms. Raffles facilities available to home owners
include RafflesAmrita Spa, fitness center, beach clubs, on-site restaurants & lounges, sugar palm kids club, infinity-edge swimming pools, 24-hour concierge and on-site property management. Raffles Estates seeks out the most spectacular expanses of land suited to the grandest villas and mansions, offering the ultimate experience for those impassioned to enjoy the privileges of a Raffles lifestyle with full private ownership. Prices from €2 million to €4 million For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/ Raffles-Estates-Seychelles or call +44 20 7095 8703
Izuran, Morocco With a stunning blend of traditional charm and contemporary architecture, the exclusive boutique resort Izuran is designed to embody the distinctive style of Morocco at its best.
The exclusive development consists of only ten majestic villas and a luxury five star hotel overlooking the snow-capped Atlas mountains. Surrounded by a magical oasis of 37 acres, including organically grown fruits and vegetables and centenary olive groves, Izuran is guaranteed to provide a tranquil haven. Still, the development is close to the alluring Marrakech, golf courses and Marrakech international airport. Izuran is designed by leading architect Karim El Achak, in association with international interior designer Miguel Cancio Martins - the latter well-known for his design of the Parisian Buddha Bar and The Billionaire Club. Colourful Moroccan-style architecture including rose coloured walls and lavish interiors in rich hues blends perfectly with the nature. Fabulous resort amenities will provide a unique exclusive atmosphere: a 1,500mÂ˛ medical Spa; a 30 suites luxury hotel, exquisite gastronomy including a fine Italian restaurant, refined boutiques, heated pools and a childrenâ€™s area. Villa owners benefit from all hotel services and can entrust their property into the reliable hands of the hotel management who offers an optional rental program. A professional team will also be handling the domain maintenance and security. Prices start from â‚Ź2.3million. For more information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/Izuran or call +44 20 7095 8703
Malaiwana oceanview villas above Naithon Beach, Phuket’s most exclusive private address Malaiwana is one of the greatest top-end luxury property developments, a superb addition to the most exclusive real estate belt on Phuket’s beautiful north-west coast strip of pristine beaches. Malaiwana is a mixed development comprising 19 sensational Estate Villas with a secondary phase of pool residences, and a stylish oceanfront beach club already planned. Sea views and sunset views are breathtaking and Naithon Beach is truly pristine. Perhaps Phuket’s most beautiful, unspoiled beach with classic fine white sand and clear turquoise water …..a true oasis. Malaiwana Estate Villas are set on land plots from 1,600 to 3,200 m2, so the estate will maintain its tranquil feeling. The villas are palatial at almost 1,000 m2 of construction area which is distinctly separated into owners, 18
guests and social areas. The magnificent social area is arranged under two Thai style pavilions, where living , dining, sundeck and sala connect to form one exclusive and very elegant entertainment area. Separated only by water, and bounded by a double edge infinity pool, the entire area looks over the Andaman Sea. To complete the scene, private estate management and concierge services will be available. Prices from: THB 89 million For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/Malaiwana or call +44 20 7095 8703
The Estates at Montgomerie Links, Vietnam Poised to be one of Asia’s most sought after golf resorts, The Estates at Montgomerie Links is located just off breathtaking China Beach and minutes from Danang’s international airport. The Montgomerie Links, a 7,200-yard championship course is positioned to one day hold some of Asia’s biggest tournaments. Eighttime European Tour Order of Merit winner Colin Montgomerie - better known as Monty to his worldwide fan base - has crafted a course that moves boldly over a striking landscape of wispy casuarina pines and sand dunes. The Montgomerie Links is one of only four courses to bear Montgomerie’s name, an honor reserved for layouts where the site and development partners were personally chosen by the golfer himself. The other courses are in Dubai, Ireland, Scotland and Wales. Spread along a north-south trajectory through the center of the course you will find ‘The Estates at Montgomerie Links’ , 54 contemporary designed and beautifully appointed golf villas. 20
The three-bedroom villas feature a contemporary appearance incorporating floor level changes, vaulted ceilings, and designer kitchens and bathrooms. Each villa boasts expansive view of the golf course or coastal vistas with seamless integration of open-plan interiors and subtly landscaped exterior space. The villas lie within a gated enclosure, offering residents a private and secure community. Ownership of a villa at the Montgomerie Links Estates represents a unique opportunity to be part of one of Asia’s hottest new destinations. Owners will enjoy a country club lifestyle with wonderful golfing and leisure facilities as well as the exclusive privileges afforded by a Montgomerie Links private membership. Prices from $725,000 For further information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com/The-Estates-at-Montgomerie-Links or call +44 20 7095 8701
Viceroy Anguilla Poised to aesthetically amaze the most astute of second-home buyers with inspiring designs by internationally acclaimed tastemaker Kelly Wearstler, Viceroy Anguilla will boast limited edition living. Situated on 35 lush acres, with 3,200 feet of beachfront land along Barnes and Meads Bays, Viceroy Anguilla features 140 contemporary beachfront and blufftop villas, sophisticated townhomes and opulent resort residences. Elegant, inviting, exceptional, Viceroy Anguilla embraces the pristine natural beauty and tranquility of this West Indie Island. Each residence promises signature Viceroy style, conveniences designed for the luxury lifestyle, and of course, astonishing views of some of the most coveted beaches on earth. Each of the 140 residences are fully furnished and designed by Kelly Wearstler. Boasting contemporary architecture juxtaposed with organic materials, the villa exteriors are clean and modern with straight, simple forms.
artwork from Africa which offer a visual contrast with the modern architecture. Heated plunge pools, gourmet kitchens, state-of-the-art electronics and technologies are just some of the features included. In addition, all residence owners will have access to Viceroyâ€™s opulent range of amenities and seamless intuitive service; gourmet and casual restaurants, two distinct beach clubs, a 16,000 sq ft world-class Spa, tennis courts and fivestar concierge provide the utmost in luxury relaxation. Ownership at Viceroy Anguilla promises every privilege and convenience of a refined island residence made irresistible by five-star service and a sensational array of resort amenities. Completion of the villas is expected summer 2009. Prices from $935,000 to $9.9 million.
In designing the property, textiles and techniques from all over the world were used, further information, please contact Signature including hand-carved wood pieces from Asia, For Residences Worldwide, www.signatureresidencesworldwide. hammered metalwork from India and beaded com/Viceroy-Anguilla or call +44 20 7095 8703 22
Terrazas de Coson, Dominican Republic Next to the beach town of Las Terrenas lies Terrazas de Coson, 72 villa estates spread across 370 acres of land on a hillside overlooking the ocean
200 meters above sea level, the palatial villa estates at Terrazas de Coson offer unparalleled views of the ocean and mountains. Boasting multiple pools with waterfalls and streams throughout the property, the international design experts GVA fashioned each villa around its particular setting. The villa estates are available in three designs and range up to 12,000 sq.ft (1,040mÂ˛). With a global acknowledgement of the importance of â€˜green initiativesâ€™ , Terrazas de Coson could not come at a more opportune time, proving it is possible to live a life of luxury while contributing to a better earth. All homes will run on solar energy and will be built with eco-friendly materials. www.theaddress.info
In addition to the villa estates, Terrazas de Coson will also feature an exclusive five-star boutique hotel with 28 bungalows. It will provide residents and guests with an extensive collection of amenities such as bars, a tennis club, a private beach club/Spa, and several restaurants, under the direction of world renowned Chef Christophe Leroy. The beach town of Las Terrenas, a picturesque village with an abundance of bars, restaurants, shops and more is only steps away. With a balmy climate and warm breezes, Dominican Republic offers outdoor adventures including horseback riding, 4-wheeling, and many water sports.
With its own heliport, Terrazas de Coson is easily accessible while upholding the privacy it promises. Central to six airports, including the new El Catey International Airport only 15 minutes away, the development is conveniently located off the new highway from the capital of Santo Domingo which has shortened the drive to a mere two hours. Terrazas de Coson offers the perfect blend of contemporary sophistication and unspoiled nature. Prices from $1,724,000 For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/terrazas-decoson or call +44 20 7095 8703
Emerald Monkey Eco Luxe Resort - Glamorously Green Emerald Monkey Eco Luxe Resort & Residences is one of the newest development to be announced in the Caribbean. This one-of-akind development is located in the Archipelago region of Bocas del Toro, in the Caribbean Sea off the coast of Panama. The development has been designed to be the first luxury “Zero Carbon Footprint Project” in the world. John Hagelin, Director of Hot Properties Worldwide says, “You can’t help but to fall in love with the warm people and beautiful islands of the Archipelagos of Bocas del Toro. It’s one 26
of the finest locations in the Caribbean. The islands offer a great diversity of breathtaking attractions including the amazing white sand beaches, magnificent coral reefs in crystal clear water, and magical mountainous rainforests.” Emerald Monkey sits on 80 acres of lush green foliage in tropical setting. Phase one includes 76 unique Balinese villas with indoor outdoor living. The villas are built in Bali by native craftsmen, and then disassembled and shipped to the island. Each villa boasts custom designed Balinese décor.
The residences are accompanied with five-star amenities. These include the “Banjar” Village which is filled with antique Balinese shops, two saltwater pools, spectacular coral reef diving, a world class anti-ageing rejuvenation Spa, two beaches, a sunken Bali village for snorkelling, two miles of walking trails, family activities center, on site restaurants, and even a meditation temple to watch the sun rise and set. The developer is committed to build a luxury eco friendly community. Their inspiration came from the Balinese way of life that people should live at one with nature. Through use
of sustainable and renewable resources along with hydro-electric power, the team of Emerald Monkey will take its first step towards creating the first luxury “Zero Carbon Footprint Project”. Construction has already started on Emerald Monkey, and the resort is scheduled for opening in summer 2010. Villas start at mid $500’s to over $2.5 million. For further information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com/Emerald-Monkey or call +44 20 7095 8701
Europe Joia das Dunas - luxury beach-living on Portugal’s Atlantic Coast Renowned Portuguese architect Vasco Vieira has superbly crafted 18 villas and townhouses serviced by a boutique hotel and Spa. Located on the Silver Coast, Portugal’s stunning west coast, all villas have sea views, three en suite bedrooms, pools, barbeque areas, terraces, fully equipped kitchens, satellite TV and WiFi, and hidden underground parking. Joia das Dunas is separated from the sea by 600 metres of sand dunes which lead to the breathtaking Seixo beach with its high cliffs, silver sand and natural waterfalls. Built on a protected area of 65,000 square meters, the development is intended to be as environmentally and ecologically friendly as possible. Lisbon’s International Airport along with the charm of Portugal’s historic capital itself are only 35 minutes away, while the traditional town of Santa Cruz is a gentle stroll down the beach. The hotel will have 10 bedrooms; Spa and gym; Restaurant & Bar; Mini Cinema; Indoor swimming pool and Gourmet food and wine shop. The hotel also offers exclusive services to villa owners including a full rental and management service, laundry and villa cleaning; garden and pool maintenance; baby sitting and catering. Phase one is currently in the process of being delivered to owners who already this summer can enjoy luxury beach-living. Prices from €625,000 For further information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com/Joia-das-Dunas or call +44 20 7095 8701
Image: Ludovic Di Orio et Franรงoise Cavazzana
Ski in style - Chalets with the X-factor Property in the French Alps continues to appeal. The Alps have historically had a real shortage of property for sale. Planning restrictions are strict and little land is available for development. Home owners in this part of France tend to be in it for the long-term and reluctant to part with their property and it is easy to see why.
Tignes Le Belvedere in Tignes will certainly set a benchmark of lease-back accommodation in the French Alps, such is the high quality of the build that the development has. With over 300 km of pistes, 154 runs, 89 ski lifts, 7 ski schools and extensive off-piste, Tignes has become one of Europe’s premier resorts. Tignes offers year-round skiing, so the lack of snow is never a major problem here. In keeping with local architecture, the residences are built from natural wood and stone. The interiors have been architecturally designed to be spacious and light with views extending over the lake at Les Brevieres. All residences feature full entertainment facilities, including a DVD satellite with LCD television and a state of the art cinema system. The apartments are extremely accessible with short distances from the shops, bars, ski slopes and lifts, and will be served by a regular shuttle service. The apartments vary in size and layout depending on the number of bedrooms in the property. The development will boast numerous facilities: a central reception, car parking, swimming pool, sauna, hammam, Jacuzzis, massage rooms and fitness centre. Le Belvedere will be managed by a professional operator. Endeavour Chalets & Lodges offers its clients every service, from ski rental to ski
passes, that you would expect from a top quality operator. There are yearly guaranteed rental returns up to 4.3% gross, depending on personal use. The local airports are Lyon International or Geneva; the transfer time is 2½ hours. Prices from €170,000
Flaine Le Refuge du Golf is a fantastic 4-star leaseback and classic freehold development situated right on Flaine’s 18-hole panoramic golf course, just above the Hameau de Flaine. The development will benefit from some of the most stunning views in Flaine at an altitude of 1,850m. Flaine, noted for its exceptional location and its proximity to Mont Blanc, the highest peak in Europe, is also appreciated for its easy transfer times as it conveniently lies just one hour from Geneva. Draped in vast forests, the Grand Massif offers the most beautifully diversified natural sensational views. The diverse ski area offers 133 interconnected slopes covering 265 km of carefully maintained runs that ski right to your doorstep; Flaine also benefits from early snowfalls and snow late into the season. Admirably poised at the summit of the resort, with full south exposure, Le Refuge du Golf offers breathtaking views: it is almost too beautiful to be true.
The project will consist of 56 chalets and apartments, a central building housing reception, lounge, restaurant, bar, wellness centre, shops and covered parking. A private minibus shuttle will link skiers directly with the pistes, ski lifts and the village of Flaine, and in 2010, a ski out access will be created. The chalets and apartments sold through lease-back will be managed by a professional operator, so your apartment will be managed and rented out for you when you are not using it, giving you peace of mind and making your investment work for you. The management company will offer guests a personalised service which will include: breakfast, cleaning and laundry service, Spa and fitness facilities: sauna, hammam, Jacuzzi, massage, transfers to the lifts, helicopter flights. There are yearly guaranteed rental returns up to 4.1% gross, depending on personal use. Prices from €265 000
Courchevel Nestled in the shelter of a magnificent forest between Courchevel and Méribel, La Tania is the very embodiment of a friendly resort. Located very close to the centre of the resort and on the slopes are two spacious chalets of 152m², offering sensational views of the whole ski area. The infinite whiteness of the magnificent landscape is only blemished by the deep green of the pine trees that hover over the village. The 5 bedroom chalets have been designed with the warmest materials and elegant designs to create an exceptional atmosphere of well-being without compromising comfort. The living room and dining area are spacious yet cosy and each bedroom has its own ensuite bathroom. The chalets have the latest in high-tech equipment with WiFi Internet, home cinema surround sound system and flat screen television with satellite TV channels in the living room and all bedrooms
Images: Ludovic Di Orio and Françoise Cavazzana 32
The chalets have been constructed with the most precious of traditional architecture. With amply proportioned spaces, the chalet is full of light from the moment you wake up in the morning. Located in one of the biggest ski and snowboarding areas in the world, Les Trois Vallees or â€˜the Three Valleysâ€™, made up of the Courchevel, Meribel and Val Thorens valleys. Most of the ski area is due to open early December. La Tania is one of the most convenient ski villages for access to Les Trois Vallees skiing domain. There is a high speed telecabine to take you out of the village which connects with a four-seater chairlift that brings you to the top of a ridge between Courchevel and Meribel: turn left to ski down to Courchevel 1850 or turn right to ski down to Meribel. When skiing or snowboarding back to La Tania in the afternoon there is a choice of red, blue and green piste runs that will take you through
the trees back to the resort. There are plenty of snow-making machines and with its northfacing slope aspect, snow conditions remain great late into the season. This is an off-plan development with delivery for winter 2009. Very rare opportunity for this new exclusive development with 10-year guarantee for new-build, latest construction technology as well as reduced legal fees (approx. 2.5% instead of 7-8% for resale) The purchase options: Classic straightforward purchase or through the VAT rebate scheme in place in France (19.6% discount on property price) on the condition that you rent the chalet when you are not using it. Price on request. For further information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com, T: +44 (0)20 7095 8701 and Signature Residences Worldwide, www.signatureresidencesworldwide.com, T: +44 (0)20 7095 8703
Pangkor Laut Luxury Resort, Residence & Spa Village Pangkor Laut Luxury Resort, Residence & Spa Village is being developed on the prestigious The World, four kilometres off the Jumeirah coastline of Dubai. Made up of 300 islands,The World is quickly evolving into a one-of-a-kind destination.
Pangkor Laut on The World is modelled after the award-winning Pangkor Laut Resort in Malaysia which is managed by YTL Hotels & Properties. The residential component under the Pangkor Laut Luxury Residence & Spa Village will offer 92 fully-furnished apartments, 27 attached beach villas with private pools and 28 freestanding luxury villas with private marinas. Also included with each luxury villa is a 50 foot yacht built by Majesty Yachts - a division of Gulf Craft Inc. Residents will be able to enjoy various facilities such as a 20,000 sq.ft luxury Spa Village, marina,
4 restaurants and bars, gourmet food boutique, water park and an underwater nightclub â€“ a first for Dubai. There will be free transport by seven luxury yachts transporting from The World hubs and the mainland. Pangkor Laut will offer investors and guests a unique opportunity to experience island lifestyle on one of the most iconic projects on the planet. Prices from AED 8,138,000 For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/PangkorLaut or call +44 20 7095 8703
Fairmont Residences Shock Hill Fairmont Residences Shock Hill is a luxury development in Breckenridge, Colorado. Breathtaking nature, world-class skiing, and the quaint authentic town feel has made Breckenridge one of the most desired and popular ski towns in the world.
Situated on a secluded ridgeline overlooking a 188 acre nature preserve, the Fairmont Residences Shock Hill boasts one of the most pristine locations and breathtaking views in North America. Add the ski in, ski out-convenience without the crowds and you have the perfect winter holiday home. The gondola stop, conveniently located between the two main buildings, takes you up to peak adventures or downtown to all the pleasures of Breckenridge. Other impeccable lifestyle enhancing amenities include a full service Spa, infinity pool with hot tubs, fitness facility, indoor and outdoor fireplaces, ski valet, luxury shuttle service to town, and much more. A lobby/pool bar, cafe and market as well as a
restaurant provide casual dining experiences without leaving the lodge. Choose from wholly owned one-, two-, and three-bedroom as well as penthouse condominium residences. Exceptionally appointed, luxuriously furnished and exclusively located, all residences will provide undisturbed, awe-inspiring Colorado views. All of this, as well as the affiliation to the Fairmont Hotels and Resorts, provides homeowners and guests with extraordinary experiences infused with Fairmontâ€™s signature service. Prices from $840,000 to $4 million. For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/FairmontResidences-Shock-Hill or call +44 20 7095 8703.
The Visionaire ‘Green’ luxury living in Battery Park, New York Available for immediate occupation, The Visionaire in beautiful and historic Battery Park, Manhattan is an example of the “green” trend for new real estate developments. The Visionaire, designed by famed architectural firm Pelli Clark Pelli, is a striking glass masterpiece featuring streamlined contours in a unique curved facade that optimizes natural light and allows exceptional river and city views from all exposures. Natural materials and finishes, and generous open floor plans in every residence will provide an interior environment harmoniously matched to the lush parkland and waterfront setting of Battery Park City. Aiming for Platinum LEED certification, the Green Building Rating System, Photovoltaic panels in the facade harvest solar power to generate a portion of the building’s electric load. Exclusive resident-only amenities will include a skylit indoor swimming pool and hot tub; two landscaped roof gardens with private cabanas; rooftop entertainment area featuring built-in grills and wetbar, a state-of-the-art fitness center and Spa; a screening room/lounge with fireplace; a private dining area; a children’s playroom and a parking garage. The Visionaire offers a truly vibrant quality of life. The views are exceptional: The Hudson River, the Statue of Liberty, The Financial District, and of course what will be The Freedom Tower. Enjoy a short walk to TriBeCa, the financial district and countless fine restaurants and shops. Prices from $680,000 For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/Visionaire or call +44 20 7095 8703.
Invest your way to permanent US residency EB-5 visa programme fast-tracks the American Dream Do you want to live the American Dream? Astute investors can turn their dream of living in the United States into a reality under a visa programme known as EB-5. That all-important “Green Card” - the lawful right to permanent residency - can be yours as an investor immigrant. With a Green Card via an EB-5 investment visa you will have the flexibility to take any job, run any business, retire and live anywhere in the US. You will have access to many of the benefits enjoyed by US citizens, such as education and in some states, such as Florida, you will enjoy substantial savings in property tax. With the EB-5 visa, investors are now virtually guaranteed a relatively quick and hassle-free legal and permanent residence in the US – and the right to apply for joint US citizenship, for family members as well, within five to seven years.
Programme Summary A Green Card or permanent residency gives the holder the right to live and work anywhere in the US. The EB-5 visa, unlike many other visa categories, is unusual in that it provides you with a green card at the outset. When you emigrate, you do so knowing that you and your immediate family have permanent residency. You may apply for citizenship after five to seven years. Work or retire, the choice is yours! 40
The current legislation enables EB-5 Regional Center investors to retire to the US and provides families (parents and children under 21) with immigration security, eliminating the need and worry of reapplying after you have been in the US for a specific period, as with most other visa categories. It also provides the flexibility to live anywhere, take any job, own and operate any business and to change employment without restrictions.
Regional Centers The US Government developed the EB-5 visa in 1991 to increase employment and attract overseas investment in the United States. The EB-5 visa is issued automatically to qualifying “investor immigrants” who make an investment of at least $500,000 in one of a number of US Government designated “Regional Center” businesses around the country. These select US Regional Centres have been approved by the US Government to solicit overseas investment as part of their region’s economic development plan. In return, qualifying overseas EB-5 visa immigrant investors receive preferential and predictable “fast track” processing of their US Green Card visa application. There are currently some 20 different EB-5 Investment Regional Centers in various parts
of the US. These include a ski resort in Vermont, a shipyard in Philadelphia, a Hollywood film studio (currently 100% subscribed), a dairy farm in North Dakota and, most recently, a luxury condominium-hotel complex one mile from Walt Disney World in Orlando, Florida. Additionally, subject to the business performance of the chosen EB-5 Regional Centre, the full investment amount can be returned, with profits, in 3 to 5 years. The US EB-5 investment visa programme is consequently becoming increasingly popular with astute “investor immigrants” around the world. The annual quota is 10,000 EB-5 visas and the number of Regional Centres is expected to grow to at least 30 different locations by 2010.
Next Steps Hot Properties Worldwide is offering an independent service. As the company is not associated with any particular regional centre, you’ll be able to choose the investment project that suits you best . And you’ll pay no fees to Hot Properties Worldwide. Later, if you need help finding a home in the US, Hot Properties Worldwide is also happy to assist as you embark on your American Dream. For more information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com, Tel: +44 (0)20 7095 8701
Kitchen Confidential Top Chefs Share Their Recipes In each issue of The Address, great Chefs share their recipes from some of the worldâ€™s leading restaurants. In this issue, you will meet Paul McMahon at Catalina in Sydney and Jean-Luc Fruneau at Sapori del Lord Byron Restaurant in Rome.
42 Lord Byron Restaurant, Rome
Catalina Restaurant, Sydney
An iconic Sydney restaurant • Boasts a wonderful indoor/outdoor space with stunning unobstructed views of Shark Island, Harbour ferries, windsurfers, sailing boats, and seaplanes in Rose Bay • Sourdough loaves are baked on the premises twice a day; the smoked salmon is smoked, cured and sliced in-house; and the best Sydney Rock Oysters are sourced daily from up and down the NSW coast, and shucked to order • Menu favourites include Freshly Shucked Sydney Rock Oysters, Roasted snapper fillet with potato and garlic mash; lemon caper butter, and the Double roasted de-boned duck with a white port and pear purée; roasted parsnip • One of the best wine lists in the country www.catalinarosebay.com.au
Sapori del Lord Byron Restaurant, Rome Located in Hotel Lord Byron, an Art Deco luxury hotel • Serves traditional and creative cuisine • The decor is as romantic as the atmosphere; it’s all white lattice and bold Italian colors highlighted by masses of fresh flowers • A chichi crowd with demanding palates packs it nightly • The ‘Zucchini Carpaccio’ flavored with pine nuts and fresh mint is one of the many stunning starters • For main course delights, try the fresh pappardella pasta with arugula, shrimp, saffron, and fresh orange. The sea bass steak is a treat, with its flavor of lemongrass. • The award winning wine list features the most prestigious Italian and international labels as well as an excellent selection of labels from emerging local wine producers. • The service is impeccable www.lordbyronhotel.com
Executive Chef Paul McMahon, Catalina Restaurant, Sydney
The recipes in this feature are provided by Food+Travel Online. Officially launching autumn 2009, it is possible to pre-register at www.foodandtravelonline.com already now. www.theaddress.info
Executive Chef Jean Luc Fruneau, Sapori del Lord Byron Restaurant 43
WEST AUSTRALIAN MARRON Courtesy of Executive Chef Paul McMahon, Catalina Restaurant, Sydney, Australia
1-1.2 kg Marron cut in half lengthways then each half into 3 pieces olive oil 200g salted butter 24 sage leaves rind of 2 lemons thinly sliced lengthways 2 lemons, to squeeze
In a hot pan add a little olive oil, then the marrons flesh side down until the pieces start to colour. Turn the marrons and add the butter to the pan, turn down to a medium heat being careful to not burn the butter When the butter is melted and starts to foam, add the sage and lemon slices and start to baste the marron pieces until just cooked. Squeeze over the half lemon season to taste and arrange on a plate. Serves 4
BEETROOT CARPACCIO WITH SEARED KING PRAWNS AND WASABI SAUCE Courtesy of Executive Chef Jean Luc Fruneau, Sapori del Lord Byron Restaurant, Rome, Italy
4 24 200g 1 4
boiled beetroots king prawns buffalo ricotta cheese lemon, grated salted anchovies fresh basil 4 tsp wasabi powder 2 garlic cloves olive oil salt pepper vinegar
Cut the beetroots into thin slices and put the Carpaccio on the plates. Prepare the vinaigrette: whip vinegar, salted anchovies, garlic, extra virgin olive oil, salt and pepper and emulsionise with some water. Season the Carpaccio with the vinaigrette. Prepare the wasabi sauce: Sieve the ricotta, add the grated lemon, salt, pepper, wasabi powder and mix well. Top the Carpaccio with the wasabi sauce. Clean and shell the prawns and scald quickly. Put the prawns on the Carpaccio add some salt and garnish with basil. Serves 4
SPAGHETTI FROM GRAGNANO WITH CRUSTACEANS, PINE KERNELS, RAISINS AND BORLOTTI BEAN PUREE Courtesy of Executive Chef Jean Luc Fruneau, Sapori del Lord Byron Restaurant, Rome, Italy
400g 300g 8 4 80g 60g 40g 60g 300g 80g 2 300ml 1 10g
spaghetti from Gragnano white king prawns Mantis shrimps scampi spring onions sun-dried tomatoes raisins pine kernels boiled and creamed borlotti beans cherry tomatoes, peeled and pip less salted anchovies fish broth garlic clove parsley olive oil salt pepper chilli-pepper
Peel the crustaceans and cut into slices. Brown garlic, onion, anchovies, sun-dried tomatoes and raisins in olive oil, and add pine kernels. Add the cherry tomatoes. Pour the hot fish broth and let cook for 5 minutes. Turn off and add the crustaceans. Cook and drain the pasta. Stir fry the pasta with olive oil, chilli pepper and parsley and add to the sauce. Put the borlotti bean cream on the soup plate, add the pasta and garnish with parsley. Serves 4
A World of
Founders Programme Palmera de Cabarete, Dominican Republic From the moment you step into Palmera, you will be entering another world. Discover the true meaning of paradise as you dive into tranquil waters, satisfy your more adventurous side with canyoning and white-water rafting or explore Cabareteâ€™s many quaint shops, lively nightlife and delectable dining at any number of local restaurants. A Founders Programme is available, which offers a limited number of residences at a 15% discount from pre-construction prices (subject to availability). 50
Palmera de Cabarete is home to the finest luxury living on the Dominican Republicâ€™s north coast. Explore more than 1,000 ft. of beautiful sandy beaches, including 2 private beaches, complete with convenient beachside cabanas. Palmera is set in nearly 19.5 acres of lush tropical surroundings. Each of the 138 residences will offer unobstructed, dramatic ocean views that will take your breath away. The residences will all be privately owned and designed as 2, 3 and 4 bedroom layouts boasting floor plan sizes from 2,400 to 5,000 sq. ft. They will all have open plans, expansive floor-to-ceiling collapsible windows that disappear into the walls of the main living areas and private terraces. No corner has been cut to offer you beautiful vistas at every turn. The beauty is enhanced by the sophistication and elegance of wideopen kitchens, offering Sub-Zero and Wolf appliances, thick granite countertops and custom cabinetry. Palmera will feature an impressive range of resort amenities including three large infinity edged fresh water pools overlooking the Atlantic; each over 200 feet in length, an on-site gourmet restaurant, full service Spa and fitness facility, swim up pool bar & grill and a grand reception building with porte cochere. Pre-construction pricing ranges from $1.2 to $3.7 million. For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/Palmera or call +44 20 7095 8703
Founders Programme Ritz-Carlton Paradise Valley, Arizona The first of its kind in the world, The Ritz-Carlton Paradise Valley is a 110-acre enclave that will include a Ritz-Carlton hotel with surrounding residential development comprised of villas, estate homes and estate home sites. Buyers of the residences available in the first phase will benefit from a Founders Programme which includes both financial incentives as well as customized products and services. 52
Exceptional living will be available at The RitzCarlton, Paradise Valley. A limited collection of villas and estate homes have been handcrafted with the utmost attention to detail to embody simple elegance and refined living. Located in the lush enclave of Paradise Valley, this resort community offers the opportunity to escape from city life while remaining just steps from Arizonaâ€™s most renowned attractions. Minutes from Phoenix and bordering the vibrant city of Scottsdale which continues to gain recognition for its collection of high-end shopping and dining venues as well as major sporting events, Paradise Valley is among the most desirable zip codes in the US. The Ritz-Carlton hotel will anchor this master planned development, granting residence owners access to a world-class day Spa, pools, private chef service and a dedicated owners concierge, optional housekeeping and signing
privileges at the resort. Villa owners have the opportunity to place their residence in the rental programme, managed by Ritz-Carlton. Founders Programme Those who participate in the initial release of properties in March 2009 will be recognized and rewarded through the Founders Programme. The Programme will offer a list of financial incentives and customised services or products to complement the experience of each owner. The financial incentives are as follows: Interest rate of 3.5% on earnest deposit; first 12 months of Homeownerâ€™s Association dues paid by the developer and a promise that the developer will never undersell the first round of buyers. Whole-ownership residences from $1.6 million. For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com/Ritz-CarltonParadise-Valley or call +44 20 7095 8703
Image courtesy of Plumtree Mee
Fractional Ownership Halcyon Hills Own a luxury villa at Halcyon Hills, Greece, from only £28,000 total investment. Sold at prices more than 50% below nearest competitor and well below the final anticipated valuation of the properties
Fractional Ownership and the Private Residence Club concept are amongst the fastest growing sectors of the tourism, real estate and hospitality industries worldwide. Highly respected resort market research firm Ragatz Associates reported continued growth in the residence club industry in 2007 with an estimated sales volume of $1.2 billion, a 12 percent increase over 2006. As an owner, you will typically own a titled, deeded piece of real estate that is valid in perpetuity, and may be willed or sold. “Fractional ownership is the most worry-free, cost-effective way to own a vacation home in one or more locations,” said John Hagelin, Director of Hot Properties Worldwide. One of the most rewarding and affordable overseas dream homes currently available is Halcyon Hills’ fractional ownership option. John Hagelin continues “With prices starting at £28,000, sea views, 7% rental guarantee
for 2 years, 100 % assisted finance and the project backed by the government, Halcyon Hills is a great buy for investors and lifestyle purchasers alike.” Halcyon Hills will be a five star resort on the beautiful Greek island of Samos. Despite being the eighth largest island in Greece, Samos is very much off the tourist track, accessible by boat or direct flights from Athens. This very lack of mass tourism gives Samos its charm and Halcyon Hills its investment potential as existing hotels remain full to capacity during the summer months. The Halcyon Hills development is nestled in a sheltered bay, with outstanding sea views towards western Turkey being on the south eastern edge of the archipelago. The resort has been designed to ensure every residence in the resort will enjoy sea views and a range of individual property styles meet the needs of a spectrum of overseas property buyers. The resort will also benefit from a range of facilities that will ensure that every recreational need is catered for from the 1,200m² Spa to the private marina. Sold at prices more than 50% below nearest competitor and well below the final anticipated valuation of the properties, Halcyon Hills makes a great investment opportunity. The developer is offering cash back payments to help cover interest payments on a loan taken out to cover the 40% down payment. This means, with just £1,000 down today, there is no need pay anything more until 2011. Prices from £28,000 for a fully-furnished villa with 2-4 weeks use per year, 7% rental guarantee for 2 years (fractional ownership, 1/12th). For further information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com/Halcyon-Hills or call +44 20 7095 8701 www.theaddress.info
For Sale by Sealed Bid Beachfront Estate Lot at The Abaco Club Ritz Carlton Winding Bay, Abaco, Bahamas Stunning prime Beachfront Estate Lot at The Abaco Club Ritz Carlton on Winding Bay, Abaco, Bahamas. Enjoy the amenities of a 5-star golf and beach resort. This generous 1.73 acre beachfront lot offers privacy and seclusion. Superbly located in the center of the beach with close proximity to the Clubâ€™s amenities. This beautiful lot has 200 feet of pink sand beach with gorgeous views of the secluded and protected Winding Bay. Closing date for sealed bids: February 16, 2009. For bid information and package, contact Signature Residences Worldwide by email firstname.lastname@example.org or call +44 20 7095 8703. www.signatureresidencesworldwide.com/The-Abaco-Club-Ritz-Carlton
Planning for tomorrow already today with
SIPPs and Overseas Property When putting together a well-balanced SIPPs portfolio, do not forget to include a strong property element. Investing in overseas property not only gives you potentially big financial gains, you can also benefit from the associated tax advantages.
The FSA (Financial Services Authority) is the UK government agency that since April 2007 have been responsible for regulating SIPPs. This is how they describe a SIPP: The self-invested personal pension (SIPP) itself is a pension wrapper that holds investments until you retire and start to draw a pension income. SIPPs are designed for people who want to manage their own fund by dealing with, and switching, their investments when they choose. They may have higher charges than other personal pensions or stakeholder pensions. For these reasons, they are more suitable for large funds and for people who are experienced with investing. With standard personal pension schemes, your investments are managed for you within the pooled fund you have chosen. SIPPs are a form of personal pension scheme that give you the freedom to choose and manage your own investments. Or you can employ and pay for an authorised investment manager to make the decisions for you. Investors can transfer any of their current or paid up private pension funds, including Small Self Administered Schemes (SASS) into the SIPP. You can have a SIPP as well as contribute to your Company pension fund. If you are self employed you can invest up to 100% of your earnings (up to ÂŁ225,000.00) into to SIPP.
What types of assets can be considered? Condo hotels (or apart hotels or buy-to-let hotel rooms) are classed as commercial assets and are one of the very few property types allowed to be purchased directly by a pension/SIPP. 58
Caracola Beach & Spa Resort, Isla Margarita, Venezuela
Las Canas Beach Resort – Dominican Republic
The Marquis Estate – St Lucia
Himmapan Beach Samui – Koh Samui, Thailand
HimmapanBeach BeachSamui Samui –– Koh Koh Samui, Thailand Himmapan
Other allowable investments include: UK and overseas stocks and shares Unlisted Shares Unit Trusts Investment Trusts Open ended investment companies (OEICs) Insurance company funds Deposit accounts Gilts and overseas securities Commercial properties Cash
Is buying abroad possible with SIPP? Yes – but, as with UK property, it has to be classed as ‘commercial’ property, which means you can’t buy a residential villa or apartment for personal use through a SIPP. Hotel rooms, condo hotels and apart hotels, are SIPP compliant investment products as they are
classified as a commercial property asset. However, you cannot reside at your investment property as long as the SIPP is titled as the owner of the property. The self directed pension plan rules about benefiting personally from your investments are strict - you are not allowed to make use of any property owned by your SIPP, or you risk losing its tax-protected status and worse yet you could face penalties from HM Customs & Excise. You can, however, rent out your SIPP investment for steady income - putting the profits and cash flow into your SIPP, or sell your real estate investment for a profit, as long as those profits remain inside the SIPP.
What are the benefits? SIPPs allow you to take advantage of tax relief when buying property, in the UK or abroad. For higher-rate tax payer the tax relief will be as high as 40 per cent – e.g. if a higher-rate tax
payer makes a contribution of £60,000 into their SIPP they would have a £100,000 fund to spend on property. Also, you can borrow against a SIPP property. Further to that, any income arising from the SIPP assets is free of tax (with the exception of dividends on equities) and any capital gains made on the assets is also tax-free. However, SIPP investors should check that they are not liable to tax abroad. A SIPP can be syndicated so two or more people can pool their pension funds to invest in overseas property – ideal for a husband and wife or group investment.
SIPP opportunities currently available Hot Properties Worldwide can offer the purchase of resort hotel opportunities in a number of carefully selected developments through a SIPP. Investors may be able to use their existing pension funds to invest in a villa
or apartment in the following SIPP-compliant properties: The Marquis Estate, St. Lucia Las Canas Beach Resort, Dominican Republic Merricks Beach Resort, Barbados Caracola Beach & Spa Resort, Isla Margarita, Venezuela Himmapan Beach Samui, Koh Samui, Thailand Prices from €79,000 For further information, contact Hot Properties Worldwide, www.hotpropertiesworldwide.com/EB5-investment-visa or call +44 20 7095 8701
SIPPs are a highly tax efficient model, but may not be suitable for everyone. Tax advisors and independent financial advisors can help ascertain whether this investment is suitable for you.
62 Agata Mamma
The art of
A Traveller’s Guide to Cooking Schools in Italy Would you like to learn more about Italian cooking? Why not schedule your next holiday around a cooking school in Italy? There are numerous cooking schools available throughout Italy, some hosted by famous Italian cookbook authors and chefs, others taught by native Italians who want to share their passion for Italian cuisine. Food+Travel Online picks some of the best.
ACADEMIA BARILLA CULINARY CENTER Academia Barilla Culinary Center is situated in the heart of one of the world’s top gastronomic cities, Parma, Italy. It stands on the former grounds of the Barilla pasta factory. The Academy is run by Italy’s most popular pasta manufacturer, Barilla, with the mission to protect, develop and promote the art of Italian gastronomy and culture around the world. Facilities include amphitheatre for visiting chef demonstrations, state-of-the-art 16-station professional practice kitchen, multisensory tasting laboratory, pastry and bakery laboratory with a wood-burning oven for pizza and focaccia. Boasts also Italy’s largest gastronomic library, containing 8,500 volumes. Here, one can study the original recipes from some of the greatest chefs in history, and peruse gastronomic treatises that date as far back as the 16th century. What’s Cooking The Academy is a unique destination for professional chefs, cooking enthusiasts and food lovers. You will experience regional delicacies, authentic menus and exclusive tastings. Part of the course is also one-of-a kind culinary tours to
producers of Parmigiano Reggiano cheese, Prosciutto di Parma, Balsamic Vinegar of Modena, olive oil, and wine to learn the intricacies and traditions of true Italian foods. You will also be able to explore authentic Italian markets and gourmet stores, observe the cultural street life, and enjoy the wonderful shops, cafes and restaurants that Parma boasts. Classes are 100% hands-on and tailored to the students’ interests. You can learn anything from abbacchio to zabaglione. Who Instruction is by top professional Italian chefs Contact: www.academiabarilla.com
ANNA TASCA LANZA SCHOOL Located at Regaleali-Tasca d’Almerita Winery, the 1,200-acre wine estate and working farm have been in the family of Count Lucio Tasca since 1830. Regaleali-Tasca d’Almerita is one of the most important wine-producing estates in Sicily. Guests stay in the gloriously rustic 19thcentury manor house itself, with views out over Regaleali’s vineyards to the Madonie hills.
What’s Cooking The school’s culinary philosophy draws on traditional Sicilian cooking, both that of the Monsù (from monsieur), the cooks of the great aristocratic families, as well as peasant fare, rich in vegetables and greens, including field greens. You will be using the wonderfully peppery green olive oil from the 4,000 olive oil trees as well as fruit and vegetables from the extensive garden. Chickens and sheep are bred on the estate and the sheep’s milk is used in cheese made on the estate. Courses also include visits to markets, the winery, and to where local shepherds make ricotta and pecorino cheese.
Who Anna Tasca Lanza conducts and directs the cooking courses at the Regaleali-Tasca d’Almerita Winery. She is assisted by her daughter Fabrizia and often by her husband, Venceslao Lanza di Mazzarino, a specialist in Sicilian history. By the end of the workshop you’ll know why Anna Tasca Lanza has become Sicily’s culinary ambassador to the world. “We Sicilians share a certain philosophy of cooking”, she says. “We don’t make a dish from a recipe; rather, we create it from what we have on hand, what is growing on the land at the moment. That way we never cook out of season”. Contact www.annatascalanza.com
CUCINA DELLA TERRA Cucina Della Terra is located in a pastoral area of Umbria near Lake Trasimeno. What’s Cooking You will prepare authentic Italian regional cuisine using cooking techniques that are indigenous to Italian culture. In addition, the school has hand-picked restaurants and trattorias that exemplify updated classics along with rustic Italian cooking. The Chef is also organizing a series of wine tastings, market trips, olive oil tastings and a truffle hunt that will expose you to regional specialties. Who Gerri Sarnataro is a lover of all things Italian. She grew up in an Italian-American home in Queens where her grandfather nurtured a fig tree in the backyard, her grand-
mother made fresh ricotta and raviolis, and Sunday dinner for twelve began at 2 o’clock in the afternoon. With a desire to recreate and invite others to her family table, she opened Cucina della Terra, a cooking school in an idyllic area of Italy where the culture of food could encompass a wider circle. Gerri has worked in several New York City restaurants including Lavin’s, Woods, and the three-star rated Aureole. She was also Chef/ Owner of a catering business and retail shop, serving New York City clients in the fashion industry and business world. In 1996, she found herself managing the second location of Peter Kumps’ New York Cooking School. Gerri is now a Chef/Instructor at what has been renamed The Institute of Culinary Education. Contact: www.cucinadellaterra.com
DIANE SEED’S ROMAN KITCHEN Classes take place in Diane Seed’s spectacular apartment on the top floor of the Doria Pamphili Palace in the centre of Rome at Piazza Venezia. The cooking school has a round window that looks over Piazza Venezia, down to the Forum and the Colosseum. The back terrace looks over the tiled roof to see the dome of St. Peter’s. What’s Cooking You will visit specialty shops and markets, in particular the nearby Campo de’ Fiori, a flower, food, and vegetable market since the Middle Ages. You will also prepare meals with regional recipes from all over Italy using fresh, seasonal produce, and learn about matching food with wine. Diane’s teaching is second to none - at the same time as showing you how to cook authentic Italian, her fascinating commentary gives you an insider’s view of Italian life, interwoven with snippets of Italian history as it interlocks with the story of each dish. Who British-born Diane Seed has lived in Rome for over 30 years. She has built up an international reputation for her unrivalled knowledge of Italian regional cuisine and wines and is also the author of several cookbooks. Her first book, “Top One Hundred Pasta Sauces” has sold well over a million copies and been translated into 12 languages. Diane boasts encyclopaedic knowledge of everything, from the region’s mythological significance to the best gelati cafe in Sorrento. Contact: www.italiangourmet.com
MAMMA AGATA A cooking course with Mamma Agata is a truly unique experience held in a state-of-the-art outdoor kitchen in her private home situated on a clifftop, majestically overlooking the Amalfi Coastline 1,000 feet below. This is a very gracious home with wonderful terraces and a spacious garden full of lemon trees, fruit trees, flowers, vegetables and poultry. 66
What’s Cooking Mamma Agata’s extraordinary gift for home style cooking with regional ingredients comes across in everything she prepares. This is a cooking course where you will learn about the natural ingredients used, which are fresh and picked the very same morning of each class. The Italian garden is located below the terrace and you can learn about growing the organic vegetables. There is also a small farm with freerange chickens, turkeys and rabbits. Delicious Italian staples include aubergine, Parmesan, spaghetti with tomato sauce, and chicken with herbs. After the class, participants share the beautiful meal, and enjoy the local wines of the Amalfi region. Don’t miss Mamma Agata’s liquors made from tangerine, apricot and fennel. Who Mamma Agata has a vast experience in traditional southern Italian cuisine. Her life experience includes cooking for many celebrities who frequented Ravello in the 1950’s and 60’s, such as Humphrey Bogart, Elizabeth Taylor, Jacqueline Kennedy Onassis and Fred Astaire. Contact www.mammaagata.com
PALAZZO TERRANOVA Classes take place in an 18th century palazzo converted into an exquisite country house. It comes complete with landscaped gardens, vaulted dining rooms and high-ceilinged galleries with inviting sofas and bursting bookshelves. With its 20 hectare garden of olive groves, citrus trees, vineyards and pastures of wild flowers, the hotel exists in harmony with its secluded corner of Umbria What’s Cooking Umbrian and Mediterranean cuisine is the main focus of the classes. Many ingredients come from the Terranova gardens, so all are organic and seasonal, producing a
Villa San Michelle
robust taste that lingers in the mouth. You can even get porcini truffles here at the right time of year. Inspirational themes include Secrets of the Italian Kitchen, Home-made bread and pasta, Highlights of The Umbrian Kitchen (seasonal dishes), Wood fired pizza and focaccia (with create your own), Traditional Desserts and Everything Chocolate! Who Chef Patrizio Cesarini, who creates dishes drawing from the Umbrian traditions but with a modern twist. Contact www.palazzoterranova.com
TUSCAN WOMEN COOK The school is located in the 13th century village of Montefollonico, an hour south of Florence, where rolling hills of olive groves and vineyards in the Chiana Valley present a landscape right out of the Florence galleries. The classes take place in a spacious farmhouse kitchen. Whatâ€™s Cooking The school pays homage to the traditions of Tuscan cooking. Food with lots of heart and soul, prepared the old-fashioned way, as women here have done for centuries. Its basic philosophy is to use the freshest local ingredients and not to complicate them too much. At its core is an array of simple and
hearty dishes that utilize wild game such as rabbit and boar and pheasant, chestnuts, wild fennel, fresh figs, virgin olive oil, just-picked herbs and vegetables, a minute amount of sauces, and stale bread used as a stretcheradded to bean soups, mixed with fresh tomatoes for a salad, or as bruschetta, also known as poor man’s pizza. Classes include both hands-on cooking and demonstrations plus visits to food artisans, olive oil producers, local food markets, and food festivals Who Iolanda and Bruna, two wonderful grandmotherly Tuscan village women, who on alternate days are teaching in the kitchen. They’ll share regional techniques, ingredients, and family recipes that have been passed down over the centuries. In addition, you may meet Dania Masotti, who has a Michelin starred restaurant and hotel in the village of Montefollonico. Contact www.tuscanwomencook.com
TUTTI A TAVOLA Cooking lessons are conducted in the kitchens of the Chefs’ private homes, all located in and around Radda in Chianti, one of the loveliest hill towns in Tuscany. What’s Cooking You come here because you want a peek into the Italian kitchen - the cooking, the family atmosphere, the traditions. Hands-on cooking lessons are taught in the Chefs’ private farmhouse kitchens, where you’ll learn authentic Tuscan dishes, along with family recipes that have been handed down from generation to generation. Some of the dishes you may prepare include crostini, fettunta, pinzimonio, veal in tuna sauce, risotto with vegetables, pasta e fagioli, tagliatelle with ham and peas, torta della nonna, cantuccini, or panna cotta. After the lessons, everyone gathers at the table 68
for an evening of conversation, laughter, good food and delicious wine. The culinary programme also includes a wine tasting, an olive oil seminar and tasting as well as a guided visit to a lively local market. Who Known affectionately as the Tuscan Mamas; Mimma, Lele, Franca and Simonetta, are connected through family relations and lifetime friendship. The Chefs of Tutti a Tavola have been invited to share their knowledge of traditional regional Italian dishes at a number of different venues in the United States, Canada, Bermuda, France and Australia. They have been featured on NBC’s “Taste of Tuscany” program and highlighted in many newspaper articles around the world. Contact www.tutti-a-tavola.com
VILLA MANGIACANE Villa Mangiacane is a magnificent late 15thcentury villa, part of Small Luxury Hotels of the World. The Villa is located 12 kilometers from the beautiful city of Florence, in the legendary winemaking region of Chianti Classico. The estate includes 600 acres of vineyards and olive groves, producing from their 6,000 trees a truly superb extra virgin olive oil, and from their vines a full-bodied Chianti Classico from Sangiovese, Canaiolo and Colorino grape varieties and a marvelous Merlot. The estate bottles a peppery olive oil, served and available at the villa and in many of Wolfgang Puck’s restaurants. What’s cooking With samplings of Mangiacane’s wines and olive oil and private cooking lessons with the acclaimed Chef Massimo Bocus, you will be immersed in the ultimate Tuscan experience. You will also learn specialty dishes that vary with the seasons and include handcrafted caserecce (pasta with broccoli), toasted pine nuts and black truffle, red tuna and porcini
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mushrooms sauté on Tuscan bread soup or Irish beef loin filled with foie gras served with a Tuscan vin santo reduction. Who Your classes will be held with Chef Massimo Bocus, a young, engaging and passionate culinary professional using Italian cuisine with an international twist. Contact www.mangiacane.com
VILLA RAVIDA The Ravida Estate, in south west Sicily, has been producing extra virgin olive oil since 1773. This high quality, award winning olive oil renowned as “one of the best in the world” is the natural blend of three Sicilian olive varieties, Cerasuola, Biancolilla and Nocellara, grown organically. The oil has a beautiful herby and grassy aroma with an harmonious finish but, being from Sicily, it has an earthy spiciness to it as well. It is also loved by several Michelin star chefs around the world. What’s Cooking Relaxed cookery lessons take place in the secluded courtyard of Villa Ravida or in the family kitchen around a marble table used by the family for generations. Learn to cook traditional and authentic Sicilian family food using seasonal produce. From Sardines stuffed with sultanas and pine nuts, to a simple yet delicious Linguine with new season olive oil and lemon zest, to the more elaborate dishes of noble Sicilian cuisine such as pasta timbales, arancine and fruit gelatines. Who Natalia Ravida inherited a love of food and olive oil from the legacy of her Sicilian ancestors. Contact www.ravida.it/ravida-cooking-courses. htm
VILLA SAN MICHELE It is hard to picture a more idyllic scene in which to study Italian cuisine: a magnificent 15th century monastery which has been transformed into one of Europe’s most stunning five star hotels. The Villa San Michele, whose façade was designed by Michelangelo, is located in the hills of Fiesole, overlooking Florence. The school has become an institution: a true benchmark. What’s Cooking Tuscan cuisine will be the central topic of many courses. Others will focus on specific dishes: pasta, wines and cheeses, desserts while still others cover more general subjects such as dietetic cuisine and the art of entertaining. The gastronomy courses are given titles such as ‘A Symphony of Pasta’, ‘Cooking with Flowers’, ‘Italian Intermezzo’, and ‘Single Is Beautiful and Tasty Too’. There are also courses for children, designed to sharpen their senses, recognize fresh food and learn to cook real dishes. Lording it on the Aristocratic Cuisine course should be memorable with Princess Giorgiana Corsini showing how to set the table for a gala dinner with period silverware and glasses, or Countess Caterina Ballarati Piccolomini explaining how to prepare classic dishes according to her family’s centuries-old tradition. Who Arota of famous chefs, such as Anton Mosimann and Raymond Blanc, you may well find both Italian aristocrats and culinary experts from Tuscany and abroad taking the class. Contact www.villasanmichele.com This feature is provided by Food+Travel Online. Officially launching autumn 2009, it is possible to pre-register at www.foodandtravelonline.com already now.
Tuscan Women Cook
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Tuscan Women Cook
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