NEW YORK, January 1, 2010 — In spite of a year-long global recession which left many real estate companies reeling, Paris Residence Club, an upscale, shared ownership company based in Paris, invested broadly in its many properties in France and gave generously to charities and organizations, specifically in New York.
Throughout 2009, PRC has been proud to provide donations ranging from $3,000-$15,000 each in value toward the following charities and non-profit organizations: Denise Rich’s Gabrielle’s Angel Foundation for Cancer Research (formerly G&P Foundation), French Institute Alliance Francaise (FIAF) Trophee des Arts Gala, the French Heritage Society’s Atlanta Chapter Holiday Gala, the Rita Hayworth Gala/Alzheimer’s Association in Dallas, and the Foreign Aid Service, Order of Malta, in the United Kingdom.
The company also hosted a series of private events in New York in conjunction with the FIAF to introduce Francophiles and New Yorkers to the benefits of living la belle vie for at least part of the year, in Europe.
PRC Founder and CEO Walid Halabi explains the reason for the company’s generosity during a weak economy, “A recession such as we’ve seen in the last year or more is a time when people stop to really re-evaluate their priorities and their portfolios. Investing in like-minded organizations and their people will only spread goodwill among the type of investor I would like to see become a member of Paris Residence Club.”
The investor profile that Mr. Halabi wants to attract is someone who loves not only Paris, but aspires to the Parisian way of life. Hence he has created a social component to his shared ownership company, Paris Club, which will be a way for owners and friends of PRC to connect, network and share the benefits of la belle vie through blogs, a quarterly newsletter and private events. The Club will serve as one’s “entree to the good life”; that is, living one’s life among many several homes, which was previously a lifestyle accessible to the uber-affluent.
“For most people, a home in the center of Europe is simply a fantasy, especially in today’s uncertain economic times,” said Mr. Halabi. “We are helping people to discover the many advantages of fractional ownership and the fact that, for little investment, they really can ‘own a piece of Paris’ and ‘live like a Parisian.’ There is less hassle than going through the French realty system when a potential buyer works with us, and we have made it very easy for Americans to purchase abroad. All the contracts are according to U.S. law which makes the process very seamless to navigate for a first-time European home-buyer.”
The one, two and three bedroom residence apartments available for shared ownership within Paris Residence Club come fully furnished and adorned with elegant interior designs and modern amenities, offering owners not only a legitimate real estate acquisition (note: the main difference between fractional ownership and timesharing is that the buyer actually owns the asset) but an ideal intimate setting for entertaining family and friends. Additionally, the apartments are conveniently located in the heart of Paris, within walking distance to metro stations, as well as popular Parisian neighborhoods and well-frequented destinations such as the Champs-Elysees or the Boulevard St-Germain; Notre Dame or the Eiffel Tower.
For a fraction of what it would cost to purchase a home in Paris, or to stay in fine hotels, PRC offers its owners 1/13 of a share, or four weeks each year, in a beautifully-appointed home-away-from-home in addition to a “bonus” week in an idyllic getaway spot such as a bucolic 19th century farmhouse in Provence or a brand new 52′ yacht in Marseilles. Other coveted destinations in Europe are soon to be added to the portfolio, under the umbrella name “The Residence Collection.”
Paris Residence Club offers an unparalleled level of services to its owner-group, including 7-days-a-week English-speaking concierge, pre-arrival grocery shopping, fresh flowers at arrival, car service, daily English newspaper delivery, and many other comforts of home.
Paris Pied-a-Terre is a vacation rental property firm that is also managed by Mr. Halabi. PPaT is an ideal service for those who plan to visit Paris for an extended stay, but are not ready or able to invest in real estate there.
“The time and mood is right for Americans to start falling in love with France again,” Halabi concluded. “And Paris real estate is only getting better and better, while other major markets have a long climb back up.”
For further information on fractional ownership with Paris Residence Club, or rentals with Paris Pied-a-Terre, contact Ms. Lisa Hagen at 1-877-OhParis! (877-647-2747) or visit www.parisresidenceclub.com or www.parispiedaterre.com
SOURCE Paris Residence Club