industrial Assets News: Portuguese Real Estate Intelligence

Uber Investing €90m in Lisbon
September 17, 2021 The company has chosen the Portuguese capital to install a new hub and operations centre that will be "Uber's main source of product and technology development in the Southern European region." "Uber's new 'hub' and operations headquarters represent an investment of more than 90 million euros and has already generated more than 400 direct jobs, with the prospect of recruiting 200 additional employees by the end of 2021,″ reports the Noticias ao Minuto website, based on a statement from the American technology platform. According to Uber, the new Lisbon hub will be used to "develop processes and products for the region." In addition, the operations centre "will be geared towards improving the experience of users, drivers, delivery partners, restaurants, retailers and other business partners and will provide support for nine European countries, including, in addition to Portugal, France, Spain, Italy, Greece, Israel, Turkey, Germany and Croatia," among others. In the statement, Uber's senior director of Customer Operations EMEA, Régis Haslé, guaranteed their "commitment to Portugal and the willingness to continue to invest in the country." "We have already made an investment of 60 million euros and intend to invest another 30 million euros over the next four years," he said, considering that "Portugal has excellent professionals and also the ability to attract the best talent to work at Uber and live in Lisbon." Translation: Richard D K Turner
The Portuguese Real Estate Market in August 2021
September 2, 2021 - Brainsre.news Although August usually proceeds at a slower pace, with fewer investments and a lull in the news,  last month saw a continuation in the ongoing in the real estate sector in terms of transactions and investments. As might be deemed fitting for the traditional holiday month, the largest transactions came in the logistics and hotel sectors. Tourism has been rebounding since the Portuguese government announced that it would gradually lift measures imposed to combat the pandemic, and statistical data has revealed Augusta as one of the months with the most significant growth. Highlighting the month was Insula Capital's announcement that it launched a €100-million real estate fund during the month's final days. The fund is aimed at the housing, commercial, retail and hotel sectors. It will seek to take advantage of opportunities in the various industries and acquire assets in Portugal and capitals across Europe, including the UK and Switzerland.   Residential At the very beginning of the month, Vanguard Properties announced that it would invest €15 million in a new development at Tomás Ribeiro 89 in Lisbon. The project is intended for luxury housing. Vanguard acquired and will rehabilitate the building from the 1920s, located in one of the most sought-after areas of Lisbon, on the street that gives its name to the property in the neighbourhood of Avenidas Novas, near the centre of the capital. Tomás Ribeiro 89 has a gross area of around 3,000 m2 and consists of seven floors with one flat each. Further north, in Aveiro, a new condominium will be built, the Orizzont, which is the result of a 5-million-euro investment, with 12 flats with views of the Ria de Aveiro. It is a closed condominium with three-to-five bedroom flats, a heated swimming pool, a terrace with a 360º view, garden, multipurpose lounge and balconies overlooking the Ria de Aveiro.   Offices The Ageas Portugal Group acquired two new buildings for more than 30 million euros, bringing its portfolio to around ten office buildings by the end of the year. The insurance group announced the acquisition as part of its plan to build a portfolio of high-quality office assets, a sign of real estate investment in the capital. Classique, one of the office buildings, is located at Avenida Alexandre Herculano N23 and has around 2,250 square metres. Cais, the second building, has around 4,900 m2 and is located in Parque das Nações. The Ageas Portugal Group intends to develop a sustainable investment strategy and actively manage its properties, which is why the two buildings acquired are already leased.   Logistics In mid-August, Sonae Sierra's SIGI acquired a warehouse for €13.15 million. Olimpo Real Estate Portugal (Ores) acquired a warehouse in Vila Nova de Gaia for 13.15 million euros, the company reported. The property has 21,075 square metres and is leased to the Portuguese transport and logistics company Grupo Luís Simões. Meanwhile, Sogenave made a €22 million investment in a logistics centre in Barreiro. Built on a 2,100 sqm site, the future building will house a new logistics and distribution centre. According to the local authority, the construction of this logistics and distribution centre for product storage and distribution should start operations in early 2023. At the end of the month, Garland announced an investment of 30 million euros in a new logistics centre in Vila Nova de Gaia. Garland Logística expects to increase its turnover by 40% with the construction of the property, which will cover an area of 38,000 m2. Set on a 100,000 m2 site, the new logistics centre is excellently located, close to the Arcozelo junction between the A44 and A29 motorways.  Construction is set to conclude in June 2022.   Hotels The hotel sector began the month with the announcement of an investment of 8 million euros in Quinta de Santo António - Country House & Villas, which recently opened to the public. Located in the municipality of Marco de Canaveses, it offers 22 accommodation units and fills a tourism gap in the Douro and Tâmega regions. Meanwhile, the Azora fund acquired a third luxury hotel in the Algarve after buying two others in July.  The five-star unit is located at Praia das Gaivotas in Porches and has 118 rooms. The size of the investment in Luxury Vilalara was not revealed. Also in mid-month, the European investment company Catalyst Capital acquired the former Diplomático Hotel in Lisbon for 14.75 million euros. The transaction is part of the new €250 million European hotel investment strategy. The former Diplomático Hotel is located at Rua Castilho in Lisbon and was acquired from a family-owned company. The company will also invest around €9 million to renovate the asset, transforming it into a 4-star boutique hotel with 95 rooms.
Garland Invests 30 Million Euros in New Logistics Centre
August 27, 2021 – Ana Custódio Garland Logística expects to increase its turnover by 40%. Set on a 100,000-m2 site, the new logistics centre is close to the Arcozelo interchange between the A44 and A29 motorways.  The new facility will allow the national expansion of the logistics area of the Garland Group, one of the market leaders in the shipping, transport and logistics sector, and is the second to take place in the municipality of Vila Nova de Gaia. The construction of the building, in a covered area of 38,000 m2, represents an investment of 30 million euros. It will have a capacity for 100,000 pallets and allow for the creation of 100 direct and 200 indirect jobs.  The work is due to be concluded in June 2022. Garland Logística (the Garland Group’s business unit dedicated to warehouse logistics, distribution and e-commerce operations) has a storage area of 91,500m², distributed across seven units in Portugal (Maia, V. N. Gaia, Aveiro, Mealhada and Cascais). With this investment, the company has increased its capacity to 129,500 m2, one of the largest in the sector. With this new centre, Garland Logística expects to increase its turnover by 40%, with an accumulated growth of 50% in the last five years. According to Ricardo Sousa Costa, Garland Group director and CEO of the Logistics area, “At a critical time for the Portuguese economy, which is trying to resist the effects of the pandemic, this major investment to significantly expand the logistics activity reflects our confidence in a recovery that is expected to be effective in the medium term. It is a project that fills us with pride, not only for its size and visibility but also for the jobs it creates and the economic dynamism it imprints on the region. The new Garland logistics centre will centralise operations to support the bicycle production activity of our client Decathlon, whose project will allow the storage of 100,000 pallets, thus contributing to the consolidation of an important exporting industrial activity in the Gaia area. This will be a state-of-the-art logistics undertaking, the building’s construction complying with all the good practices of innovation and environmental and energetic sustainability. Aiming to become the first logistics centre in Portugal with BREEAM New Construction international certification, the project will follow an extremely demanding plan. The unit will also incorporate the most advanced security technologies, namely an FM approved sprinkler model, a complete fire detection and combat system, smoke removal, CCTV, access and intrusion control, and retention basins. Mr Costa adds that “Garland Logística has grown strongly in recent years. This state-of-the-art logistics centre is a consequence of that growth. Our goal is to continue to expand, which has been more significant in the north, but which we are interested in nationwide, so we remain alert to new opportunities that arise in other regions of the country. The next few years will certainly be a continuation of this sustained line of growth.” Translation: Richard D K Turner