Retail investment volume in Turkey increased threefold last year to EUR 770 mln compared with 2005, according to a report by Jones Lang LaSalle (JLL). Turkey's EU accession plans, a stabilising economy, increasing transparency and retailer demand are fuelling the boom in real estate foreign investment, which accounted for EUR 2.12 bn in 2006.
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.
