Pirelli & Co Real Estate said its foreign assets will increase in 2007 from 14% to 25% of the total assets under management. The company will focus on central-eastern Europe next year, consolidating its presence in Germany and Poland, and widening its business in Romania, Bulgaria and Croatia, Chief Financial Officer Gerardo Benuzzi said Friday during a conference call to present the company's full year 2006 results.
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.
