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offices Market News: Portuguese Real Estate Intelligence

Quântico-Albatross to Build New Antas Atrium Development next to the Estádio do Dragão
1 December 2020The Quântico-Albatross investment fund, which was created in 2017, has begun work on the Antas Atrium residential development, in Porto, in an estimated investment of more than €240 million. The fund was created to invest in the development and rehabilitation of prime housing, and is now investing in this 1,100-flat project. The first phase of construction on the condominium in Porto is scheduled to begin in March 2021, with 180 flats with sales prices of 3,500 euros/m2. The major new residential development is a short distance from the Dragão Stadium and will be developed in six phases, with a planned duration of 6 to 8 years. The Antas Atrium development has a planned gross construction area of 177,000 m2, including 122,000 m2 above ground and 55,000 m2 of below ground, divided into 121,000 m2 for residential use, 1,700 m2 for commerce and 3,000 m2 for infrastructure facilities. The site will also boast 1,800 parking spaces. Original Story: Idealista – Elisabete Soares Translation/Summary: Richard Turner
 
Investors Increasingly Looking Towards Northern Portugal
27 November 2020Porto is increasingly becoming the first place that investors look, consolidating its position as a major destination for commercial investment. The most recent data from JLL's Market 360º Porto 2020 study, show that even during the pandemic crisis, total investment in the Northern region of Portugal reached 400 million euros in the year to September, about twice as much as in the same period last year. According to JLL's accounts, investment in commercial real estate in the northern region of the country has been keeping pace with the dynamics of the national market, accounting for around 20% of the total accumulated investment up to September - around 2.2 billion euros. Original Story: Vida Imobiliária - Vanessa Sousa Translation/Summary: Richard Turner
 
Fortera Group to Sell Riverside Project and Skyline Offices
20 November 2020The Israel-based Fortera Group announced that it would sell two of the real estate projects it recently started to develop in Vila Nova de Gaia. The group will sell a 16,500-m2 plot of land, intended for offices, which is included in Skyline, a mega-development including a congress centre, a 160-room hotel, and 100 flats, the result of a partnership with the municipality. The project, designed by the architect Souto Moura, involves a total investment of over 100 million euros. The 590-flat Riverside Gaia residential project is also on the block and is valued at approximately 13 million euros. The development has a gross area of 44,200 square metres and has already gained the necessary municipal approvals. Fortera has yet to announce a sales price for either. Original Story: Idealista - Elisabete Soares Translation/Summary: Richard Turner