French president Francois Hollande inaugurated the Foundation Louis Vuitton contemporary art museum on October 20. The private contemporary art museum was financed by Bernard Arnault, who heads up the LVMH luxury goods empire and whose net worth is estimated at almost US$ 30 billion by Forbes. The foundation was designed by 85-year-old architect Frank Gehry who wanted to "design, in Paris, a magnificent vessel symbolizing the cultural calling of France". Gehry is best known for designing the Walt Disney Concert Hall in downtown Los Angeles and the Guggenheim Museum building in Bilbao, Spain. Spain Museum of Modern Art Guggenheim Foundation aroused the admiration of the French billionaire who wished to have the building constructed in a similar aesthetic. Anchored by imposing iron and wood girders that evoke Belle Epoque steelwork, and relying on aerospace technology for its construction, Gehry's masterstroke is the building's 12 undulating sails covering an area of 13,500 square meters. The rectangular panels of glass made in specially created ovens in Italy reflect the light in different ways as they appear to twist this way and that. They float over the body of the building, "the iceberg," constructed of fiber-reinforced concrete known as Ductal. Construction and designing of the private museum has taken more than 12 years and Mr. Gehry had to design almost 60 different layouts. The ambitious project took 100 engineers assembled by Gehry and a total of 3,000 workers. The museum is as ambitious as anything Gehry has ever produced but also, surprisingly, as refined. Covering 11.700 square meters and holding 11 separate galleries on four levels as well as a sizable auditorium, space for concerts and so on. At the moment they are exposed not more than a dozen contemporary installations, specially created for the opening, and 60 architectural layouts of Gehry. The main collection will be placed in the halls only at the beginning of next year. The center formally opens on Octtober 27. Admission will be free for a few days and then rise to nearly US$ 18 for an adult. In 2062 the building will revert to public ownership, becoming property of the city of Paris.

One of America's landmark homes, the Miami Beach mansion that once belonged to Italian fashion designer Gianni Versace, was sold at an auction for US$ 41.5 million to a business group that includes the owners of the Jordache jeans brand, reported Reuters news agency. The 1930s-era Mediterranean-style estate, which has 10 bedrooms, 11 bathrooms and a pool inlaid with 24-karat gold, was auctioned off as part of a bankruptcy proceeding by its current owner, telecom magnate Peter Loftin. Bidding opened at US$ 25.5 million and the winning offer was made by the current mortgage holders of the property, VM South Beach, a company affiliated with New York's Nakash family, which controls Jordache Enterprises. The Nakash family jointly owns a hotel next door to the mansion with the Gindi family, who founded the Century 21 department store chain. They plan to consolidate the properties to create a hotel that will possibly carry Versace's name. Joe Nakash told reporters he planned to ask Versace's family for permission to name the new property the Versace Hotel Villa. The 2,137 square meter mansion, replete with hand-painted frescoes, Italian marble and a gold-and-marble toilet, has been the subject of a long legal battle. In 1997, Versace was gunned down at the mansion's entrance gate by serial killer Andrew Cunanan. Three years later, Versace's family sold the property to Loftin, who is now facing bankruptcy and who had been trying to sell the house for more than a year. Versace bought the property in 1992 for US$ 2.9 million. He then purchased a hotel next door and spent US$ 33 million on renovations to add another wing. Inside, he decorated with an over-the-top style that included paintings of Grecian, nymph-like characters playing lyres under palm trees. The snake-haired Medusa head, Versace's logo, can be seen throughout the house.

The Palais Lumiere, a 245 meter-high skyscraper planned for the ex-industrial area of Marghera, 9.5 kilometers from the center of Venice, will not now be built. Public and government opposition has forced fashion tycoon Pierre Cardin to cancel plans for his pet skyscraper project. Pierre Cardin and architect Rodrigo Basilicati have axed plans for their 60-story Palais Lumiere, due to criticism about how the building would clash with the Venetian landscape. In March 2012, Venice government has approved a 60-storey tower designed and funded by fashion designer Pierre Cardin. But as told project architect Rodrigo Basilicati "The decision was inevitable after over two years since presenting the initiative we could not get a formal approval on a deal with all public bodies involved. Cardin's Palace of Light was to be built on Venice's mainland in the former industrial area of Porto Marghera and was to boast swimming pools, gardens and ponds on the upper decks and a helipad on the roof. Originally set for a 2015 completion, the glass palace was to include housing, hotels, cinemas, restaurants, research centers as well as educational and sports facilities. The skyscraper's three towers were to be connected by six horizontal disks. Opposition and criticism over the glass-walled skyscraper began in 2012. Locals have been concerned over the impact of the 245-meter structure would have on the Venetian landscape and the medieval city. The opposition largely consists of are "Venetians and Italians who are tired of seeing Venice abused by the vast cruise ships and mounting examples of the crudest commercialism.

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.

Russian billionaire, the chairman of Board of Directors of Capital Group, Vladislav Doronin, has built a futuristic mansion for his girlfriend Naomi Campbell in Moscow's suburban area known as Barvikha. The house for the supermodel looks like a spaceship. The unusual house was designed by famous British architect Zaha Hadid. The Russian entrepreneur plans to present the house to the famous British model when they become husband and wife. The house of 8687 square meters is called "Capital Hill Residence". The building consists of two 20-meter-high towers and is designed in Eco-style - a mixture of modern technologies and natural forms. The white mansion stands aloof amidst pine trees. The planning of the house is impressive. The basement will house a Finnish sauna, a hamam (Turkish bath) and a Russian bath. A huge gym is next door. The basement also houses a guest room. On the upper level, there is a reception hall, an indoor swimming pool, a dining room and a kitchen. The house has two children's rooms. The interior of the house is designed in Eco-style. The designer was inspired by the work of legendary Barcelona architect Antonio Gaudi, who did not accept straight lines and liked to use wood and glass in interior decoration. As for real estate, which Vladislav Doronin gives to his girlfriend, Naomi Campbell already has a penthouse in Brazil, not far from Sao Paulo. Doronin bought it for $18.5 million. In 2011, Doronin financed the construction of the Eye of Horus villa in Turkey for Naomi. The building was built in the form of the right eye of the Egyptian deity. The building, designed by young architect from Spain, Luis de Garrido, became a birthday present for Naomi.