test
HomeEnglishThe Portugues...

The Portuguese Real Estate Market in June

The Portuguese Real Estate Market in June

June is one of the most anticipated months throughout the country as it is a time of great festivities and also a period of downtime and vacations. However, this tranquility that reaches many sectors did not affect the real estate market, which once again showed strength with significant investments in various segments and again from north to south of the country.

Last month, in a general analysis, the most prominent segments were residential, which, although with limited supply, is announcing new and important projects. In addition to housing, new hotel units are also emerging, accompanying the arrival of summer with their inaugurations.

Residential

At the beginning of the month, the start of the Rehabilitation Plan for 11 neighborhoods in Lisbon was made public, endowed with 40 million euros. The company Gebalis will begin the Rehabilitation and intervention Plan in 11 neighborhoods in Lisbon, with a total investment of 40 million euros until 2026. The rehabilitation will begin in Bairro dos Alfinetes, in the parish of Marvila, and the works will cover seven buildings and 68 units, with interventions planned on the roofs and facades.

Also, on the southern shore of the Portuguese capital, a residential development will be built next to Fórum Barreiro. The real estate developer Screendomus is responsible for the residential promotion of 200 apartments under construction next to Fórum Barreiro, the “Platinum Barreiro” project, whose commercial value exceeds 90 million euros. In the first phase, the T2, T3, and T4 typologies are launched, distributed on seven floors and five buildings, constituting 116 apartments out of the total investment. The first 62 apartments, blocks one and two, have a delivery deadline for the first half of 2025.

Also in Lisbon, the City Council and the IHRU (Institute of Housing and Urban Rehabilitation) have closed an agreement to invest 322 million euros in public housing. According to the City Council, approximately 100 million euros will be allocated to the rehabilitation of municipal housing. Out of these 100 million, 15 million will be allocated to continue the effort to rehabilitate vacant housing, benefiting 620 units, and the remaining 85 million will be used to rehabilitate buildings with deplorable conditions, benefiting 8,543 units. The remaining 222 million euros will be allocated to housing investments between 2027 and 2028.

In the south of the country, Vilamoura World presents two new developments. Vilamoura World presents its recent real estate projects, Natura Village and The Nine. With the presence of golf courses and the Natural Park, covering 170 hectares, Natura Village is an option for those who want to live in harmony and surrounded by nature, including hiking trails and even bike lanes that allow you to reach the beach, the center, and Vilamoura Marina in just 10 minutes. The second project, The Nine, is located in a consolidated area of Vilamoura, near the clubhouse of the Victoria golf course.

In the north, the news arrived that Grupo CVM is investing 13.5 million euros in the construction of the Edifício Pacífico. The construction of Edifício Pacífico was announced by Grupo CVM, located in Vila Nova de Gaia, and represents an investment of 13.5 million euros. The works, which are about to begin, will build apartments of the T1 (10), T2 (27), T3 (21), and T4 (4) typologies and are expected to be completed in October 2025.

Offices

Mapfre has invested 20 million euros in the acquisition and remodeling of the building José Malhoa 13. The Spanish Group has acquired the building José Malhoa 13, investing an amount of 20 million euros, which includes the acquisition and remodeling of the property. The building, with an area of 4,700 m2 and nine floors, will be renovated to meet the recent trends in architecture and interior design, emphasizing collaborative spaces and paying special attention to the needs of hybrid work models. The ground floor will feature a flagship store, which will be Mapfre’s main store in Portugal.

Meanwhile, BNP Paribas REIM has acquired the office building Pier III. The building, which is currently the new headquarters of Accenture in Portugal, has a total area of 4,500 m2 and offers 101 parking spaces. With a project by the architect Carrilho da Graça, Periptero has created a “cutting-edge” building that is one of the most iconic in Lisbon’s riverside area. The investment amount was not disclosed.

It was also announced that Signal Capital and Sonae Sierra will develop a mixed-use project, República 5. The mixed-use project República 5, located in Lisbon, is being developed by Signal Capital and Sonae Sierra, and features 12 floors dedicated to offices and a single residential area with 20 housing units. República 5 is located in one of the most prestigious areas of Lisbon, next to Saldanha, and dedicates most of its surface (11,600 m2) to offices, distributed over 12 floors.

Industry and Logistics

In this segment, it was learned that an industrial plot of land in Carregado was sold by CBRE. The consultancy firm was responsible for the sale of an industrial plot of land in Carregado, composed of two assets, with a total area of 20,000 m2. The plot, located in the municipality of Alenquer, consists of two assets with a total area of 20,065 m2 and a potential for construction of approximately 10,000 m2. One of the plots has an existing building of 2,600 m2, while the other plot already has an approved PIP (Preliminary Investment Project) that foresees the construction of 6,760 m2.

Shortly after, Garland Group announced the opening of a fourth logistics center in Gaia. The Garland Group will open a new logistics center in Gaia, adding up to four centers in the municipality, with 10,500 m2. This is the third logistics center of Garland Logistics to open within a year in Gaia. The company has six centers in the north, two in the center, and two in the south of the country.

Retail

The Commercial Gallery of Alverca will receive an investment of 32 million euros. NHOOD Portugal will invest 32 million euros in its project to transform the Commercial Gallery of Alverca, a space it manages and in which it will invest around 32 million euros, on behalf of Ceetrus, the new owner of the asset in co-ownership with Auchan.

One of the major milestones of the month was the announcement by Borgwarner of a 90 million euro investment in a new industrial unit in Viana do Castelo. The American company inaugurated in the Lanheses Business Park, in Viana do Castelo, a new industrial unit for the production of electric motors and components for electric, heavy, hybrid, and 100% electric vehicles. The investment, exceeding 90 million euros, will take place over a year, until June 2024, focusing on energy transition and will create 350 new jobs.

Hotels

In this segment, as the month comes to an end, it was learned that the hotel group Grande Buganvilia was sold to Capital Elements. The hotel group Grande Buganvilia, currently owned by Flitptrel Portugal and part of the activities of Davidson Kempner in Portugal, which operates two hotels in the Algarve, has been sold to Capital Elements, a company that is part of the Arrow Group. The transaction refers to the sale of the first asset that DK Partners bought from the banks that own the ECS funds.

Meanwhile, the opening of Vila Galé Collection Tomar has been announced. Scheduled to open on July 1st, Vila Galé Collection Tomar represents an investment of 14 million euros and is the result of the recovery and redevelopment of two emblematic buildings, the former Convent of Santa Iria and the former Women’s College. The new hotel unit has 100 rooms.

At the end of the month, Montebelo Aguieira Lake Resort & Spa presented a new hotel unit. In addition to its privileged location, 20 minutes from the A1 and the city of Coimbra, this 5-star lakeside resort introduces a new hotel unit this year with 58 rooms. The resort also offers 155 one to three-bedroom apartments and four-bedroom villas, the latter with a private pool.

Alternative Assets

In this segment, Cushman & Wakefield announced that it will assume the management of seven assets from MEAG’s portfolio. The consultancy firm has won the management of 48,000 m2 of office assets with three buildings located in Arquiparque, two in Quinta da Fonte, and two on Avenida da Liberdade. MEAG is the asset manager of the Munich Re Group, with branches in Europe, Asia, and North America, offering its know-how to institutional investors as well as private clients outside the group. It currently manages assets worth around 307 million euros, of which 55 million euros belong to external investors.

On the other hand, Albatross Capital and Quantico join forces to create Quest Capital. The joint venture formed by the Spanish company Albatross Capital and the Portuguese company Quantico SA launches Quest Capital, a company that incorporates the operations developed jointly by both companies, integrating their projects, experience, teams, and capabilities. Quest Capital, a pan-European real estate investment and asset management company, is born with over one billion euros of assets under management, 600,000 m2 of real estate assets, and over 6,000 residential and commercial units in its portfolio.

B-Exclusivas

Últimas Noticias

BANNER 300x600 BRAINSRE ALTRIRE 1