offices Market News: Spanish Real Estate Intelligence

Coast Between Lisbon and Oeiras to Undergo Major Redevelopment
23 July 2019 – Richard D. K. Turner The Portuguese state, together with private investors, will redevelop the region between Pedrouços and Cruz Quebrada. The area, totalling 64 hectares, will see the creation of a marina, research centres, a hotel and restaurants. The entities will invest 300 million euros in the coming decade. Most of the investment will be private (219 million euros), 25% will result from public-private partnerships (76 million euros), while the state provide five million euros, equal to 2% of the total. The redevelopment will occur in three phases. First, 117.9 million euros will go towards building laboratories for the Portuguese Institute of Sea and Atmosphere (IPMA), temporary residences for researchers and research centres, restaurant areas, buildings for companies and the future Marina de Pedrouços. On these, the government believes construction will end by 2022. The next two phases will include a hotel, another marina, a business school and additional research centres, with a target completion date in 2030. Original Story: Economia Online - Rita Neto
Office Allocations in Lisbon Reach 11-Year High
22 July 2019 – Richard D. K. Turner Allocations of office space rose by 77% year-on-year in June, reaching an eleven-year high in the first semester of 2019. According to a report by Savills, company’s took up a total of 101,004 m2 of office space. Lisbon’s Zone 1 (CBD) accounted for 64.3% of the entire allocation in June. Zones 1 and 5 stood out in the first six months of the year, accounting for 52.9% of total allocations (24,037 m2 and 28,463 m2 respectively). Zone 4 (Historical Centre), on the other hand, saw no new transactions in the period. About 34% of the allocations were due to new buildings entering the market. Original Story: Diário Imobiliário