GIC Real Estate, the Singaporean government's investment arm, has agreed to purchase a 40% of the MetroCentre mall located in Gateshead, north-east England, from Liberty International's unit Capital Shopping Centres (CSC). The transaction value comes to £426 mln (EUR 623 mln), valuing MetroCentre at some £1.065 bn. Under the deal, CSC will continue managing the centre.
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.
