Homes and Villas Abroad.com has recently engaged an eight-member sales team to spearhead its Calabria operations – four of whom will work on and around the Ionian seaboard on the east and the other four of whom will be based on the opposite Tyrrhenian coast.
The expansion will see it enter into partnerships with a number of Calabria real estate companies, allowing Homes and Villas Abroad.com to showcase an even greater range of Calabria property for sale to suit all tastes and budgets, from Euro 50,000 beach apartments to majestic villas costing Euro 1million and over.
Homes and Villas Abroad.com marketing manager Ainsley Okoro said: "Foreign tourism has really taken off in Calabria in recent years, and with 500 miles of beautiful shores and year-round sunshine that comes as little surprise.
Friday, May 22, 2009
Sunday, May 17, 2009
Major fraud scheme in Italy real estate uncovered
The fraud investigation unit of the Tax Office, the FIOD, has uncovered a major fraud case involving property investments in Italy. The independent supervisory authority for savings, investment and insurance markets (AFM) had reported WSM, a property and project development company, to the Tax Office, claiming that WSM did not conform to the standards set by AFM.
WSM offered to invest in Italian real estate on behalf of 130 private investors. The financial supervisory authority suspected that return on investment was paid with money from new investors. It is estimated that up to ten million euros have been paid by private investors to WSM. The FIOD made two arrests in Amsterdam and Hilversum, after conducting searches in private homes.
WSM offered to invest in Italian real estate on behalf of 130 private investors. The financial supervisory authority suspected that return on investment was paid with money from new investors. It is estimated that up to ten million euros have been paid by private investors to WSM. The FIOD made two arrests in Amsterdam and Hilversum, after conducting searches in private homes.
Monday, May 11, 2009
Embattled Kelly in talks with Anglo to save property portfolio
The developer has 40-plus partnerships in Ireland and overseas, and is involved in projects with total debts of more than €2 billion.
The complexity of the deals has prompted Anglo to hold off from moving on Kelly’s various businesses. While many of the projects he backed are not in difficulty, he is understood to be facing particular problems with a $1 billion scheme in Florida. He also backed Tulfarris House & Golf Resort in Wicklow and the Thomas Read group of pubs and restaurants, both of which are in receivership.
Anglo recently seized the assets of the Dublin company behind Pragelato Village, a €100 million, five-star ski resort in northern Italy that was backed by Kelly.
The complexity of the deals has prompted Anglo to hold off from moving on Kelly’s various businesses. While many of the projects he backed are not in difficulty, he is understood to be facing particular problems with a $1 billion scheme in Florida. He also backed Tulfarris House & Golf Resort in Wicklow and the Thomas Read group of pubs and restaurants, both of which are in receivership.
Anglo recently seized the assets of the Dublin company behind Pragelato Village, a €100 million, five-star ski resort in northern Italy that was backed by Kelly.
Tuesday, May 5, 2009
Mafia linked property seized
Italian police said on Tuesday they have seized more than 300 million euros (400 million dollars) in real estate and funds from 13 suspected members of the Sicilian Mafia who were arrested in 2007.
The 13 include Salvatore Biondino, 56, who was the driver of former Cosa Nostra supremo Toto Riina, Palermo financial police said in a statement.
Riina, arrested in 1993, is serving multiple life prison terms.
The investigation codenamed Scanner involved some 70 businesses, and the "seized property represented the illegal fruit of Mafia activities," it said.
The property includes land, villas, apartments, companies, business facilities and bank accounts, it added.
The 13 include Salvatore Biondino, 56, who was the driver of former Cosa Nostra supremo Toto Riina, Palermo financial police said in a statement.
Riina, arrested in 1993, is serving multiple life prison terms.
The investigation codenamed Scanner involved some 70 businesses, and the "seized property represented the illegal fruit of Mafia activities," it said.
The property includes land, villas, apartments, companies, business facilities and bank accounts, it added.
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