The sobering macro-economic sentiment has spilled over into the real estate industry in Germany dashing hopes for a strong recovery in 2010. The poll-based Real Estate Climate, mirroring the industry sentiment, clearly suffered in the May survey of the monthly King Sturge Real Estate Economy Index.
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.
