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Real Estate news of the week in Portugal (26June-2 July)

Weekly summary of the most important news from the Portuguese real estate market.

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Brainsre compiles below the weekly news highlights.

Residential – CVM Group invests 13.5 million euros in the construction of the Pacific Building

  • The CVM Group has announced the construction of the Pacífico Building in Vila Nova de Gaia, with a total investment of 13.5 million euros.
  • The residential project will consist of 62 units spread across 11 floors and 3 basement levels. It is located on Avenida dos Descobrimentos and will have a total construction area of 11,273 square meters.
  • The building will feature a variety of apartment sizes, including T1 (10), T2 (27), T3 (21), and T4 (4), and the construction is scheduled to be completed by October 2025.

Albatross Capital and Quantico join forces to create Quest Capital

  • Spanish company Albatross Capital and Portuguese company Quantico SA have formed a joint venture called Quest Capital, combining their operations, projects, expertise, teams, and capabilities.
  • Quest Capital is a pan-European real estate investment and asset management company, starting with over one billion euros in Assets under Management, 600,000 square meters of real estate assets, and a portfolio of over 6,000 residential and commercial units.
  • The joint venture aims to leverage the combined resources and experience of both companies to enhance their presence in the real estate market and maximize investment opportunities across Europe.

Office – BNP Paribas REIM acquires Pier III office building

  • The building, currently serving as Accenture’s new headquarters in Portugal, spans 4,500 square meters and includes 101 parking spaces.
  • Designed by architect Carrilho da Graça, the Periptero building is a state-of-the-art structure and stands as one of the most iconic buildings along Lisbon’s riverside.
  • The investment amount for the project has not been disclosed.

Alternative Assets – Alverca Commercial Gallery receives investment of 32 million euros

  • NHOOD Portugal plans to invest 32 million euros in the transformation of Alverca Shopping Gallery, a space it manages and represents as co-owner along with Auchan.
  • Ceetrus, the new owner of the property, will contribute to the investment of approximately 32 million euros.
  • The investment aims to revitalize and improve the commercial space, bringing about significant changes to Alverca Shopping Gallery.

Residential/Office – Signal Capital and Sonae Sierra develop mixed use project República 5

  • The mixed-use project, República 5, in Lisbon, is being developed by Signal Capital and Sonae Sierra, featuring 12 floors dedicated to offices and a unique residential area with 20 apartments.
  • Located in one of Lisbon’s most prestigious areas near Saldanha, República 5 allocates the majority of its space (11,600 m2) to office use spread across 12 floors.
  • The project aims to provide a combination of residential and office spaces in a prime location in Lisbon, catering to the demand for both living and working in the city.

Hotel – Vila Galé Collection Tomar is opening

  • The Vila Galé Collection Tomar, representing a €14 million investment, will open on July 1st. It is the result of the recovery and redevelopment of two iconic buildings, the former Convent of Santa Iria and the former girls’ college.
  • This new hotel property features 100 rooms and combines the historical charm of the convent and college with modern amenities and facilities.
  • The Vila Galé Collection Tomar offers guests a unique and luxurious experience, blending the rich heritage of the buildings with contemporary comfort and accommodation options.

Hotel – Montebelo Aguieira Lake Resort & Spa presents a new hotel unit

  • The 5-star logistics development boasts a prime location, just twenty minutes away from the A1 highway and the city of Coimbra.
  • This year, the resort introduces a new hotel facility with 58 accommodation units, adding to its offerings of 155 T1 to T3 apartments and V4 Villas with private pools.
  • Guests can enjoy a wide range of accommodation options, along with the convenience of the resort’s proximity to major transportation routes and the attractions of Coimbra.

Industrial/Logistic – Borgwarner invests 90 million euros in new industrial unit in Viana do Castelo

  • American company BorgWarner has inaugurated a new industrial unit in the Lanheses Business Park in Viana do Castelo, dedicated to the production of electric motors and components for electric and hybrid vehicles, including heavy-duty and 100% electric vehicles.
  • The investment, exceeding 90 million euros, will continue for a year until June 2024. It reflects a commitment to energy transition and will lead to the creation of 350 new jobs.
  • The new facility reinforces BorgWarner’s focus on the growing market for electric mobility, contributing to the development of sustainable transportation solutions and the local economy.

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