The new Westfield Mall which opens on Thursday will cover 43 acres of space and cost £1.7 billion ($2,65 billion) to build. As the Telegraph reports the mall will have 265 shops, a 14-screen movie theater, 50 restaurants, a gym, spa, a library and 4,500 parking spaces.

For the luxury-minded shopper the mall has a concierge team of 60 who speak 14 languages total. Valet parking is available as well as handsfree shopping and chauffeur service.

Although the immediate economic forecast is bleak, Westfield’s executives remain cautiously optimistic. Keith Mabbett is senior leasing executive at Westfield, and has been responsible for getting the retailers into the centre.

“We’ve been sounding out the retail market for six years, seeing what they need. And there is a need for this centre,” he said at Westfield’s site office overlooking the development.

The Wealth Bulletin (a Dow Jones site) has come up with a list of the 10 most expensive streets in the world. The survey revealed that the prices for the top homes in the best locations appear to have decoupled from the gloom and doom being felt in the wider property market.

If you want to live in the best accommodation in these streets you will need to be a billionaire, or not far behind !

Avenue Princess Grace in Monaco has been named at the top with a price tag of $190,000 per square metre. It is followed by Hong Kong’s Severn Road with a price of $121,000 per square metre (sq mt) at second and New York City’s Fifth Avenue at third place ($80,000 per sq mt).

Here is the complete list, with some sample property prices as tallied by Wealth Bulletin:

A rich Arab paid $47,000 to have the oil changed on his Lamborghini Murcielago LP640.

To make sure the maintenance was performed right, he had his luxury oil change done in London. He sent his Lamborghini on a 6,500-mile round trip from Qatar to Britain just for the oil change !

The supercar which is the same model as the one driven by Batman in The Dark Knight and costs about $380,000.

The Sun reported that his black-and-gold supercar costs £3,552 ($7,000) to service at an approved dealer – on top of the £20,000 ($40,000) to freight from Qatar to Britain.

Evans, of pressure group Plane Stupid, said: “This horrifies me. It is another example of how rich people exploit and pollute the planet because of their money.”

But David Price, of Lamborghini Club UK, said: “If an owner wants to service his car in that way, it is his choice. I’m not surprised. Thankfully the age of excess in some areas continues.”

Copyright : The Sun / 2008 News Group Newspapers Lt

Mercer has just released its top 50 most expensive cities in the world based on cost of living.

Mercer’s Worldwide Cost of Living Survey 2008 is used to help multinational companies and governments determine living costs for their expatriate employees, who usually demand a relatively high quality of life.

Mercer’s survey covers 253 cities across six continents and measured the relative cost of over 200 items in each place, including housing, transport, food, clothing, household goods and entertainment.

London department store Selfridges in London has unveiled their luxurious new Christmas offerings which will go on sale starting next month.

The limited edition bear, which will be part of the store’s first ever toy collection, is thought to be the most expensive in the UK.

This £43,000 ($85,000) teddy has eyes made of emerald and diamonds, a nose of solid 24-carat gold and the bear’s fur is entwined with Gold Leaf.

London’s Southbank will feature a new landmark building following the approval of a planning application to redevelop York House.

The new design was initiated after a four-year planning period for the original, smaller design which, by the time planning was granted, had become obsolete.

And Sheppard Robson have eventually designed a bold but beautiful glazed-design which reflects the sun beams in rainbow colors which will create a crystal effect.