Spanish property group Inmocaral is in talks with two companies in relation to a merger with its French unit Societe Fonciere Lyonnaise (SFL), Spanish daily La Gaceta reported. Citing Inmocaral's ceo Luis Portillo, the newspaper said Inmocaral is considering the possibility of expanding its French business prior to selling a 15% to 20% stake in SFL.
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.
