US fund manager BlackRock has reportedly deferred Q3 redemptions from its £3.5 bn BlackRock UK Property fund as it struggles to meet a surge in demand for redemptions against a backdrop of high inflation, economic uncertainty, and falling property values linked to higher interest rates.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
