Russian consortium Mian has entered the Bulgarian commercial property sector through the purchase of a 5,000 m[sup]2[/sup] plot of land in Sofia for EUR 10 mln. The group, with assets valued at EUR 670 mln, said it will develop an office complex with a 24,000 m[sup]2[/sup] build-on area on the site. Completion is expected for 2008, Bulgarian news agency BTA said.
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.
