Property Prices in China Set to Halve

Lisa: Did you know the Chinese use the same word for crisis as they do for opportunity?
Homer: Yes… Crisitunity!

I was watching RTE’s 2-part drama last night about a crooked property developer into drugs and whatnot. His outfit was called “Premium Holdings” and for some inexplicably serendipitous reason I was reminded of Treasury Holdings.

I wonder how they’re getting on these days. Big in China I hear. Gone uncharacteristically quiet lately.

“China Real Estate Opportunities (CREO), listed in London’s Alternative Investment Market (AIM) and backed by Treasury Holdings, reported a pretax loss of £91.6 million for 2008, sources reported. The company reported basic loss per share of £1.96 last year, versus earnings per share of £1.30 in 2007.” - chinaknowledge.com/Newswires … wsID=22129

CREO share price graph: londonstockexchange.com/LSEC … 1P8F99CREO
“The wide discount at which the Company’s shares continue to trade, whilst common to the whole sector, remains a source of concern to the Board.” - londonstockexchange.com/LSEC … source=RNS

Back in the bubble heyday, there used to be some swanky parties in Johnny Ronan’s (of Treasury Holdings) “pink palazzo” carbuncle on Burlington Road, D4. 8DD It’s been rather quiet of late though…

They may be a bit short of cash…?

This article also refers to the house as the “pink palazzo”, a term I thought I invented and was alone in using.
independent.ie/national-news … 07215.html
Wonder if the journalist picked up the term here?? :laughing:

The “Pink Palazzo” on Burlington Road, which has been deserted for many years, had a strange flag [black, red, white] on a flagole outside it as I passed by yesterday. Has it been sold or rented out as an embassy or ambassador’s residence?

Ahhh that is the house I used to see with a Maybach parked on the road. Makes sense now.

Guess I didn’t invent the term after all. Damn you Cole Porter!

Where is Venetia, who loved to chat so?
Could still she be drinking in her stinking pink palazzo?

From “Where is the life that late I led?” - by Cole Porter

Residency for the UAE embassy? Actual Embassy is on Pembroke Road.

It’s been there for at least 6 months I reckon. I thought the old embassy used to be on Leeson St Bridge. In the same building where Fine Gael had their General Election HQ in 2007.

The Pink Palazzo is in the news again
“The infamous “Pink Palace” on Burlington Road in Dublin 4 is back on the rental market. This time around, the property best known for the lavish parties once hosted there by its boom-bust-boom again developer owner Johnny Ronan, is available off-market for €15,000 a month.”
irishtimes.com/life-and-styl … -1.2226636