Property investment company CLS Holdings has increased its stake in Bulgarian Land Development (BLD) to 28.65%. CLS, led by Sten Mortstedt, has agreed to purchase about 7.2 million shares at a price of £1 each. AIM-listed BLD specialises in developing residential and commercial property across Bulgaria.
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.
