Tallest Buildings in the World by Function

The Tallest Buildings in the World by Function

(listed by height)

1. OFFICE :  Taipei 101 located in Taipei, Taiwan with a height of 509 meters.
2. RECREATIONAL : Stratosphere Tower located in Las Vegas, United States with a height of 350.30 meters
3. RESIDENTIAL : Q1 located in Gold Coast, Australia with a height of 323 meters
4. HOTEL : Burj al-Arab located in Dubai, United Arab Emirates with a height of 321 meters
5. EDUCATIONAL : Moscow State University located in Moscow, Russia with a height of 240 meters
6. HOSPITAL :Guy’s Hospital located in London, United Kingdom with a height of 142.6 meters

From a real estate investor’s point of view, this list also shows the profitability of a real estate based on its function or category.  If you are keen to enter real estate development, it is best to start with any of the top 3 categories in the above list. 

However, recreational real estate entail a lot of creativity not only in design but also in function. To add, the location of a recreational real estate is of utmost importance to its success and sellability.  It is safe to choose between an office or residential development depending on the demand in your chosen location. Donald Trump is one of those notable real estate businessman who managed to have a succesful  portfolio of residential, office, recreational and hotel real estate.  You can further read on his success as a real estate businessman in my previous blog "The Triumph in Real Estate of Donald Trump".

However, it does not mean that the other categories of real estate are not worth to develop and enter into a business.  If you wanted a specialized real estate development business, then they are also good choices.  For instance in hotels, Marriott has successfully positioned itself as one one of the premier hotels.  Furthermore, it has been successfully diversified into different brands in order to cater to the various needs and budgets of the hotel industry clientele. ( I will discuss in detail about the success of the Marriott group of hotels in another blog.)

Depending on your motivation, you can be successful in your chosen real estate category as a business.  I can discuss several factors contributing to a success of a real estate project, but I can only over emphasize that the most important factor would still be the Location, Location and Location!

Reference:

Wikipedia