German fund manager Deka Immobilien expects that open-ended real estate investment funds will be invested almost exclusively by private investors in the future. In a statement on Tuesday, Deka said institutional investors are likely to shun open-ended funds and start focusing on funds tailored for their investment needs.
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.
