Property advisor Knight Frank is setting up a fund to invest about $1bn (EUR 762 mln) in offices and shopping centres across Russia's major cities, newspaper Vedomosti has reported. Knight Frank's Rutley Capital Partners will join forces with Duet Private Equity, GVA Sawyer and some other partners to launch the Rutley Russia Property Asset Management fund.
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.
