Summary
Several IREM International members discuss the impact of global sporting events. Estate agents, property managers and property owners in South Africa have had high expectations regarding potential business opportunities expected from tourists during the FIFA World Cup. In Vancouver, it is the Olympic Village which is the most controversial project. What was to be a private development that would house the Olympians during the Games and then be sold at market afterwards is currently a billion dollar plus liability for the city of Vancouver. When Salt Lake City was selected to host the 2002 Winter Games, community and business leaders worked together to house athletes, corporate sponsors, spectators and media outlets. In addition to the venues themselves, entire apartment communities were built to house the various groups. Afterwards, these same properties became part of the overall apartment community, giving property managers the opportunity to expand their management services.
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Extract
Irem International Members Discuss the Impact of Global Sporting Events
Global events like the World Cup or the Olympics can have an incredible impact on a city, especially when it comes to property management. Based on their experiences, some of our international IREM Members shared their thoughts on how these events have affected prop...
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