Germany has became the latest country with a real estate investment trust (REIT) structure. The Bundesrat, or upper house of parliament, approved the legislation on Friday that introduces the tax-efficient vehicle retroactively from 1 January this year.
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.
