Vienna-listed Meinl European Land has won a public tender to buy a 90,000 m[sup]2[/sup] plot of land in Istanbul for EUR 100 mln. Meinl is planning to develop a EUR 200 mln shopping centre with a lettable area of around 50,000 m[sup]2[/sup] on the site. The shopping centre will be anchored by a hypermarket and construction should start in a year once all permits have been received.
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.
