Norwegian Property said on Friday that it had signed a letter of intent to sell Norgani hotel group for NOK 11.2bn (EUR 1.4bn) to an unnamed group. 'This transaction will solve all short-term financial challenges,' Norwegian Property CEO Petter Jansen said. 'Furthermore, the capital gain and cash release creates a favourable investment muscle in a market with great opportunities.'
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
