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land Market News: Spanish Real Estate Intelligence

Alcobaça-Cabo Espichel Coastal Program to Receive Investments of €234.8M
15 March 2019 According to the Portuguese site Diário Imobiliário, the Alcobaça-Cabo Espichel Coastal Development Program, which was approved by the Council of Ministers on Thursday, would involve a total investment of 234.8 million euros to combat coastal erosion by 2028. Of the total, the coastal development program plans to invest €133 million in the prevention of risks to the shoreline associated with erosion, rising sea levels and climate change.  The program would also invest €9.2 million to protect and conserve the environment and landscape in the region. An additional €16.6 million would go to protect water quality at local beaches, €54.9 million to bolster economic activities based on the sustainable use of resources on the coast, €18.1 million to redevelop and upgrade installations at public beaches and €2.6 million to pay for monitoring. The focus of the program is to protect the coast while fomenting sustainable development and boosting economic growth in the region over the long-term. At the same time, the goal is to proactively deal with any potential future problems or threats, such as climate change. The program will allocate the largest portion of the funds to Almada (€98.7 million euros), followed by Caldas da Rainha (€22.4 million), Mafra (€18.6 million), Peniche (€15.5 million), Torres Vedras (€13.4 million), Cascais (€11.1 million), Lourinhã (€10.9 million), Sintra (€10.7 million), Sesimbra (€8.7 million), Nazaré (€7.6 million), Alcobaça (€7.6 million ) and Óbidos (€1.8 million). The area between Alcobaça and Cabo Espichel includes 224 kilometres of the coastline and parts of twelve municipalities. Original Story: Diário Imobiliário / Lusa Summary / Translation: Richard Turner
 
Portuguese Government Plans to Sell Almada Nascente for €2MM
6 March 2019 The Portuguese state is considering plans to sell the Cidade da Água - Almada Nascente, Margueira for two million euros. The project, which is managed by Baía do Tejo, a state-owned firm, has attracted the interest of a number of foreign investors even has doubts have surfaced regarding the sales prices since the project will still face elevated costs with infrastructure and development. The Cidade da Água - Almada Nascente, along with Quimiparque, in Barreiro, and Siderurgia, in Seixal, consist of industrial areas included in the Arco Ribeirinho Sul project, whereby the government is looking to redevelop the region, planning hotels, offices, shops, cultural venues, a marina and an intermodal river terminal.  Baía do Tejo, which is owned by Parpública, is in charge of developing plans for the area, called Lisbon South Bay. Original Story: Publituris Summary / Translation: Richard Turner  
 
Lidl Buys Land in Carnaxide from SIC for €3.2 million
28 February 2019 The deal was originally announced in March of last year but finalised only recently. The new supermarket may still open in 2019. Lidl acquired a €3.2 million plot of land near the former headquarters of SIC in Carnaxide, Alexis Latorre García, the managing director of Lidl for Greater Lisbon, confirmed to Vivo. The deal was initially announced by the group Impresa in March of last year but the company only finalised the acquisition in 2019. "The expansion has to comply with a series of requirements before licensing, and when we make investments, we have to ensure that zoning for the land is in accordance with our operations," Mr García stated. Lidl is expected to open other stores in Portugal this year as a part of the German chain’s expansion plans for Greater Lisbon. This Thursday, Lidl will open stores in the train stations of Sete Rios and Entrecampos, as well as one in Casal de Cambra, Sintra. Original Story: Dinheiro Vivo - Ana Marcela Photo: DR Translation and editing: Richard Turner