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retail-shopping-centers Market News: Spanish Real Estate Intelligence

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  
 
M7 Real Estate Acquires 16 Properties in Portugal for €55.7 million
4 March 2019 M7 Real Estate (“M7”), a European investor and asset management firm, announced that its M7 Portuguese Active Fund (“M7 PORAF”) had acquired 16 assets across Portugal for €55.7 million. The acquisitions consist of multi and single-let urban logistics assets (48%), office and business parks (22%) and retail parks (30%). Total occupancy currently stands at 87.8%, with 41 different tenants occupying 100,999 square meters of space. M7 aims to add value by improving occupancy rates through active asset management, selective capital expenditure and updated marketing initiatives. Most of the assets (14) are located close to the capital cities of Lisbon and Porto,  while the remaining two assets are located in the Centro Region. SRS acted as legal advisor, Savills Portugal as technical advisor and Ambiente as environmental advisor for M7. Original Story: M Seven Real Estate Summary: 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