International real estate advisor Savills has forecast a slowdown of investment activity in the European property sector during the second half of 2011. Nevertheless, Savills said that some European markets - including France, Germany, Ireland and Norway - will beat 2010 levels in terms of annual turnover.
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.
