land Market News: Spanish Real Estate Intelligence

Oeiras City Council Sells Six Contiguous Plots of Land in Miraflores
1 November 2019 – The Oeiras City Council managed to successfully auction off six plots of land this week, on its third attempt to do so.  The prior two auctions failed to attract any bidders. The plots, which are contiguous and sufficient to build 100 homes, were sold for 14.5 million euros, €500,000 above the base bidding price, to Índice Plural. The plots of land were formerly the site of a shantytown, demolished in 2003. The six plots measure 2,195 square meters, 3,713 m2, 2,215 m2, 2,055 m2, 2,055 m2 and 2,130 m2. The land is located in Miraflores/Algés, in the Union of the parishes of Algés, Linda-a-Velha and Cruz Quebrada-Dafundo. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner
Acciona Inmobiliaria Sells 42,000-m2 Plot of Land in Olivais to Acciona Inmobiliaria
1 November 2019 Acciona Inmobiliaria has finalised the acquisition of a 42,000-m2 plot of land from Estamo, Portugal’s state-owned property company, for 38 million euros. While half of the land is slated for green areas, there is still another 71,000 square meters of buildable area. Of that, 50,000 m2 will have a residential development, while Acciona will use the rest for a hotel or offices. Acciona partnered with Clever Red for the deal. Original Story: Eje Prime Adaptation/Translation: Richard D. K. Turner
UIP to Build New Residential and Hotel Complex in Vila Nova de Gaia
1 October 2019 – United Investments Portugal (UIP) – a subsidiary of the Kuwaiti group IFA Hotels & Resorts - has acquired the Quinta Marques Gomes estate in Vila Nova de Gaia, just outside of Porto, from Novo Banco's Fundo Imogestão. The new 25-hectare luxury development, which is already under construction and up for sale to a limited group of investors in UIP, will consist of homes and a boutique hotel. UIP plans to invest approximately €200 million and complete construction within five-to-seven years.  The Quinta Marques Gomes development will have a total of 98 detached or semi-detached units and some apartment blocks. The firm will also develop a  boutique hotel in a 19th-century manor, a Serenity SPA and a restaurant. Original Story: Jornal Econômico - António Freitas de Sousa Adaptation/Translation: Richard D. K. Turner