Frank Lowy, founder and executive chairman of Australian shopping centre developer and owner Westfield Group, is to assume the role of non-executive chairman from 25 May, handing over the baton to his two sons Peter and Steven who will become joint CEOs.
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.
