London's City office market could be the first to benefit from a move by lenders towards commercial development finance as a lack of new stock is forecast to trigger a potential 8.6% annual rental growth over the next five years, according to real estate adviser Savills. The firm said that the re-emergence of residential development lending could see financiers turn to commercial development finance.
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.
