Mercialys, the dedicated property subsidiary of French retailer Gruppe Casino, plans to spend EUR 470 mln on developing new Casino supermarket outlets over the next three years. It will also carry out renovation and extension at existing Casino sites, involving investment of EUR 485 mln up to the end of 2011.
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.
