Italian real estate funds attracted a record EUR 1.7 bn of investments in the second half of 2006, Assogestioni, the Italian association of investment fund managers, said on Tuesday. 19 new funds, including seven hedge funds, were launched in the last six months of 2006, raising the number of real estate funds in the country from 59 to 78. Some 28 new funds were created last year, with a combined value of EUR 2.6 bn.
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.
