A selection of the leading property headlines from around Europe at a glance:

A selection of the leading property headlines from around Europe at a glance:

Middle Eastern giant to make £620m UK return - PROPERTY WEEK
The Abu Dhabi Investment Authority is reportedly the preferred bidder in the sale of a portfolio of 42 Marriott hotels which went into administration in June last year. ADIA is understood to be in exclusive talks to buy the assets in a £620 mln deal, with those involved hoping a deal will be completed by the end of September.

The portfolio of 42 hotels operated by Marriott was previously owned by a joint venture between Israeli investor Igal Ahouvi, Israeli investment company Delek Global Real Estate and Avestus Capital Partners, the investment company that was formerly Quinlan Private. It was bought for £1.1 bn from Royal Bank of Scotland in 2007, which had in turn bought the portfolio from Whitbread and Marriott for £965 mln in 2006. It lent £850 mln against the deal, with a £150 mln junior portion of this being bought by Lehman Brothers.


Italian palaces, castles put on market - WALL STREET JOURNAL
The Italian government and numerous cities and other public agencies are putting billions of euros of surplus properties on the block as a way of raising revenue. Prime Minister Mario Monti's plan for the economy, which is close to final passage, includes the sale of 350 buildings along with cuts to public spending and other austerity measures. The government hopes to raise about EUR 1.5 bn through the property sales, according to the Agenzia del Demanio, the agency that manages the state's real estate assets.

The 350 properties include army barracks in Bologna, which were formerly occupied by the Defence Ministry, and Soriano nel Cimino's Orsini Castle, in the Lazio region, which was built by a pope in the 1270s and later used as a prison.

Italian agencies at all levels of government own about EUR 42 bn of properties that are surplus or underused, according to a report by Edoardo Reviglio, chief economist of Cassa Depositi e Prestiti, a bank that is 70%-owned by the government.

Ikea to build budget hotels across Europe - FINANCIAL TIMES
Swedish furniture retailer Ikea is looking to build and develop at least 100 budget hotels across Europe in its latest push into the property market. Inter Ikea, the company that owns the intellectual property rights of Ikea, is considering sites across Europe for what it calls 'budget design' hotels.

The hotels will not use the Ikea name and will not be run by the Swedish company but by an established hotel operator, according to an executive familiar with the plans. Ikea is also considering building student residences across the continent. Inter Ikea hopes to build the hotels in markets where it is already active in property, such as the UK, Netherlands and Poland, as well as new markets such as Germany.