German bank Landesbank Hessen Thuringia (Helaba) has confirmed it has put the idea of floating its residential real estate subsidiary GWH on ice, but it did not elaborate on its reasons for the decision. GWH administers 50,000 dwellings, including 40,000 in its own portfolio, and had a turnover of EUR 275 mln in 2005.
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.
