The boards of Spanish property companies Reyal and Urbis have approved at an exchange rate of 13 Reyal shares for every 5 Urbis securities, the two groups have told the Spanish stock market regulator CNMV.
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.
