Fabulous villa La Pausa with beautiful sea views built for Coco Chanel put into market. The 1325 square meter villa was designed for Gabrielle "Coco" Bonheur Chanel by the architect Robert Streitz in the hills of La Toracca, and this is where she was inspired to create the perfume Chanel No 28. It has seven bedroom suites, a staff house, guardian's house and chauffeur's apartment, and is on at 40 million euro. Coco invited a stream of glitterati, including the Duke of Westminster (with whom she had a fling), Igor Stravinsky, Jean Cocteau, Pablo Picasso and Salvador Dali. The house was later bought by the writer and pacifist Emery Reves whose guests included Greta Garbo, Prince Rainier, Aristotle Onassis and Sir Winston Churchill, who commandeered an entire wing in which to work on his A History of the English-Speaking Peoples (Reves was his literary agent). Villa La Pausa is a superb villa commanding a plateau high in the hills of Roquebrune Cap Martin enjoying spectacular romantic panoramic views up and down the Mediterranean coastline. Specifically built for Mademoiselle Coco Chanel, the property is nestled amongst ancient olive groves believed to have been planted for the former princes of Monaco. The principal villa is of excellent proportions, with large receptions rooms and tall ceilings.

Japanese architect Toyo Ito, whose buildings have been praised for their fluid beauty and balance between the physical and virtual worlds, has won the 2013 Pritzker Architecture Prize. Along with Tadao Ando, the 1995 Pritzker laureate, the 71-year-old Ito is the dean of Japanese architecture, though with his mop of black hair he looks many years younger. He is best known for his 2001 Sendai Mediatheque, a seven-story glass box of a building that was dramatically shaken, though only lightly damaged, by the Tohoku earthquake two years ago. Some of Ito's notable creations include the curvaceous Municipal Funeral Hall in Gifu, Japan; the arch-filled Tama Art University Library in suburban Tokyo; the spiral White O residence in Marbella, Chile; his stadium for the 2009 World Games in Kaohsiung, Taiwan; and the angular 2002 Serpentine Gallery Pavilion in London. Like much of his work, it distills a series of complex technical breakthroughs into a spare, even-keeled finished product. The Mediatheque's structural and electrical systems are bundled inside 13 vertical tubes, leaving library and exhibition spaces open and accessible from all sides and visible from the street through floor-to-ceiling glass. Ito has designed museums, stadiums, houses and commercial buildings across Japan. His largest and most ambitious project to date, the 58 thousand square meters Taichung Metropolitan Opera House, is under construction in Taiwan and due to open next year. Ito began his career at Kiyonori Kikutake & Associates after he graduated from Tokyo University in 1965. He founded his own architecture firm in 1971. He has also been a teacher and mentor to many Japanese architects. Two former associates in his office, Ryue Nishizawa and Kazuyo Sejima, who run the firm SANAA, were the joint Pritzker winners in 2010. Ito will receive a US$ 100 thousand grant and a bronze medallion at the formal Pritzker ceremony May 29 at the John F. Kennedy Presidential Library and Museum in Boston. The 71-year-old architect joins such masters as Frank Gehry, I.M. Pei, Tadao Ando, Renzo Piano and Wang Su, the first Chinese architect who wins the Pritzker Prize , in receiving the honor that's been called architecture's Nobel Prize. Ito, the sixth Japanese architect to receive the prize, was recognized for the libraries, houses, theaters, offices and other buildings he has designed in Japan and beyond.

As we reported earlier, Kensington & Chelsea Council was poised to grant approval for scheme to reconstruct the 17th century mansion of Russian billionaire last week. Roman Abramovich has won a three-year battle with planners for permission after making a series of compromises, which were forced on him by neighbors anxious at possible loss of light and increased traffic. His US$ 15 million plan to refurbish the mansion has been met with fury from neighbors who have described the proposal's approval as "bad news". Particularly hard-hit will be residents of nearby apartments, whose complaints about losing their views of the Thames were airily dismissed in the committee's report. The businessman aims to excavate beneath the Grade II-listed house, which was once home to artist James Whistler, to create a two-storey basement. He is also going to convert part of the building into an art studio to house his collection of valuable modern paintings that he has bought along with his 31-year-old partner, Dasha Zhukova.

Chelsea Football Club owner Roman Abramovich is set to realize a three-year dream to renovate a historic property overlooking the Thames - including a new art studio to show off his priceless collection. The 17th century building was once home to artist James Whistler. Now the Russian billionaire, 46, promises to transform its front garden to resemble one of Whistler's paintings of the Thames embankment at night. Kensington and Chelsea council is poised to grant approval next week for a US?$ 15 million scheme to restore three linked Cheyne Walk properties into a super-home. The project, which began in November 2010, has sparked concerns from a number of neighbors who fear they will suffer a loss of light and views and have their homes put at risk by plans to excavate a two-storey basement. According to plans drawn up by architects 6a, Mr Abramovich wants to transform the Grade II-listed property into a "beautiful and meaningful contemporary home". A report by the council's executive director of planning said the basement would not harm the "special architectural and historical interest" of the two surviving houses, dating back to one built in 1521 by Sir Thomas More. The proposal would see a garage block demolished and replaced with a "bespoke" art studio "with a particular focus on the quality of light and display of artworks" for the collection of priceless modern paintings he has amassed with partner Dasha Zhukova, 31. One property would be separated from the main home to create a "secondary building for staff and guests". Grand drawing rooms overlooking the Thames would be restored in the main house, with oaks replacing the lime trees in its front garden. The main property has access via a private side road. Work is unlikely to be finished for three years.

Russian Forbes edition has issued the list of 30 Kings of the Russian Real Estate with three Armenians being included among them. The owner of "Tashir holding" Samvel Karapetyan is ranked the third with his annual revenues received from renting making US$ 720 million. At the end of last year company announced that the total 2012 income of Tashir Group will amount US$ 2.9 billion. Samvel Karapetyan has real estate in Moscow, Saint Petersburg, Reutov, Yaroslavl, Belgorod, Ivanovo, Kaluga, Yalta, Vologda, Tula, Tver, Smolensk, Yerevan, etc. In October 2012 mass media reported that Samvel Karapetyan's Tashir Group may invest US$ 50 million in the construction of shopping malls and exhibition centers in Sochi sea passenger port . The biggest real estate is RIO trade center having 300 thousand square meters territory and Yerevan Plaza with 80 thousand square meters territory both in Moscow. According to Forbes, Samvel Karapetyan earned his first sum in early 90s in Armenia and then moved to Kaluga where he dealt with wholesale and textile production. Currently Tashir is a multi-profile company. Another ethnic Armenian Danil Khachaturov is ranked 25th. He is the owner of Legion Development company. His annual revenue from renting makes US$ 80 million. He elaborates his activity in Moscow. Legion I and Legion III are his largest multi-functional complexes having 130 thousand square meters territory. First he was dealing with the sale and purchase of shares, worked in Slavoil company, participated in the privatization process of Rosgosstrakh becoming the company's director in 2004. He is the co-owner of Rosgosstrakh bank. Gagik Adibekyan, also an Armenian, has been ranked the 26th with his annual revenue from renting making US$ 70 million. He is based in Moscow. Romanov Dvor with 43,500 square meters territory and Vremena Goda with 64 thousnad square meters territory business centers are his biggest real estate property. He is said to be the most mysterious figure in the Moscow market. He is known to have reconstructed Romanov Dvor business center situated in downtown Moscow in 1997, but he activity before it is unknown. He is the owner of RD Group which acquired the 40% of Vremena Goda trade center and according to media outlets, is negotiating over acquiring the rest 60%. The Forbes rating list is topped by Kiyevskaya ploshad (Kiev Square) company the owners of which are Azerbaijanis Zarah Iliyev and God Nisanov. Their annual revenue from renting makes US$1.1 billion. The second is IKEA Mos company the owner of which is ethnic Sweden Ingvar Kamprad and his family.