Italy's ministry of defence has handed over 201 former military barracks, worth over EUR 1 bn, to the Government Property Agency (Agenzia del Demanio). The operation is part of an agreement to transform barracks located in city centres into 'buildings of public utility'.
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.
