EVERYBODY knows that the credit and mortgage crunch in the United States has seriously affected the housing industry in the United States and the real estate sector as a whole. It may have possible repercussions to its northern neighbor Canada and eventually across the Atlantic in Europe but despite that, economists from all over the globe are bullish and confident that the credit crisis will be contained in the United States. They are likewise upbeat that the United States government, its citizens and the private sector will work hand in hand to combat this crisis and eventually throw it to obscurity where it will eventually end up just a piece of history.

In fact, changes are starting at the United States itself. Los Angeles-based Younan Properties has expanded its Houston portfolio by acquiring three prime properties. In Rocky Mount, North Carolina, the city government has taken the initiative to acquire seven acres of properties for low-cost housing. Meanwhile, in southern Florida, prime beach developer Equity One has bailed out a total of $63.8 million worth of properties. We are confident that the United States can take care of their own concerns so let’s take a look at what real estate investors in the rest of the world are doing to open up 2008 with a bang.

In India for example, investors have established an ingenious way to convert centuries-old heritage sites into hotels. This is an investment with minimal capital because the structures are already in place and all they need are a little bit of retouching. And this can generate huge returns because a lot of tourists the world over who are fascinated with the rich history of India will definitely troop in to visit. If you set your hotel suite package at the right price, then your investment will never go wrong. And one more thing, these palaces-cum-hotels are not concentrated in well-known places such as Delhi, Goa and Bangalore; they are spread across India so that tourism can also be emphasized in lesser known areas of the country. That’s one great plan of the Indian government worth emulating.

In the Philippines, meanwhile, the government has converted idle state-owned lands into prime properties for investments by creating economic zones. At the tip of the archipelago is an island called Mindanao and in the northern part of the island now sits a very ambitious $2 billion shipbuilding yard project as well as a $175 million international airport project all spearheaded by South Korean investors. That is another ingenious way to transform economic development speedily.

In Dubai, Burooj Properties has launched another ambitious project – the Sharjah Marina. The Sharjah Marina will be patterned after authentic Islamic architecture and has commissioned the renowned-Palafox Associates from the Philippines to do the premier architectural supervision of the project. The proposed marina will be 10 million square feet wide and has a spectacular view of Palm Deira. Kudos to Burooj Properties for another deserving accolade.

IT being a predominantly Catholic country, Halloween here is entirely different to that experienced in other parts of the world such as France, England or even Canada and the United States across the Atlantic. The focus of the celebrations here is mostly similar to the one in Portugal – the day after Halloween. Families gather around in festive celebrations to honor their dead and proclaim them as saints; thus the name of the holiday which is All Saints Day.
Food is usually placed at the foot of the graves of their loves ones. These are all Spanish produce such as olives, oranges, avocados, apples, hazelnuts and doughnuts, among others. In other cemeteries, they put the favorite dish of their loved ones who have died like chorizo for instance. But the celebration of Halloween here is generally divided – between the conservatives and the liberated; between the urban and the rural. Rural cemeteries are usually found in isolated areas while those in densely-populated centers such as Barcelona, life go on like it is.
The difference lies in the churches. Cathedrals are probably crowded with worshipers who commemorate All Saints Day in November 1 and All Souls Day afterwards. This celebration in the churches is an entirely religious one though as Catholics believe that those who cannot visit their dead loved ones by the grave can just pray for them in the churches and go about their work for the rest of the day.
The tradition of trick-or-treat has not entirely missed this country. Whether you’re in the suburbs or in the really urbane areas, Spanish kids enjoy themselves wearing outrageous costumes to have some trick-or-treated fun. They are generally rewarded with candies and other kiddie stuff although some of the people they have passed by will happily not mind giving in a few cents here and there. During Halloween night on October 31, nightclubs all over Spain from Madrid to Benidorm have their own versions of scary costume parties. Nightclubs are decorated with what look like dripping blood although this is not real of course.
This is the special effects used in movies and they also overhaul the entire decoration of nightclub rooms to have some spooky effect like they do in horror house traveling circuses. Speaking of circuses, the ones here in Spain which have folded up after summer fiesta celebrations will unfold back during Halloween and kids are once again treated with rural fairs such as Halloween-themed Ferris wheels and shooting galleries. There are also merry-go-rounds and kiddie boxcars. Characters such as Dracula and the Incredible Hulk will be famous during these horror country fairs all across Spain.
Another thing to watch out for during Halloween here in Spain – they will be forming loaves of bread shaped into skulls and bones. Thus, this pastry is known as Bones of the Holy or Bread of the Dead. Other delicacies eaten during this celebration are spider web cookies which have its own icing and are formed into a spider web, the yummy and tempting devil’s food cake with coffee meringue frosting. Hmm, the sound of that makes me drool already.