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land Market News: Spanish Real Estate Intelligence

Brazilian Investor & Ralph Lauren in Race to Acquire the Herdade do Pinheirinho
1 July 2019Richard D. K. Turner Ricardo Bellino looks set to move ahead with a €100-million real estate project in Portugal. The development, located between the beaches of Comporta and Galé, will have the participation of the Ralph Lauren group. The two are looking to redevelop the Herdade do Pinheirinho, in the municipality of Grândola. The project involves a luxury beachside retreat aimed at wealthy foreigners, principally Americans. The resort would seek to target an audience interested in an ultra-positive lifestyle, with social and sporting activities linked to golf, horses and culture, attracting both wealthy foreigners and the Portuguese elite. Mr Bellino, who has formerly partnered with Donald Trump on a project in Brazil, confirmed that he had submitted an offer to acquire the Herdade do Pinheirinho estate. He added that his offer is roughly 35% above market value. Two other groups submitted offers for the asset, and a decision is expected later this month. Original Story: Visão - Rui Antunes
 
Lagos City Council Buys Land for Affordable Housing
22 May 2019Richard D. K. Turner Lagos, in the Algarve, has some of the highest housing prices in Portugal and buyers are often foreigners looking for second homes. Elevated demand in the region has crowded out local middle-class families and young people. To respond to the situation, the Lagos City Council drew up an ambitious plan to acquire a plot of land from the CHESGAL Cooperative, where it will build about 100 new subsidised flats. According to an article in Idealista, the local municipal assembly recently approved the acquisition of plots of land totalling 9,280 square meters for more than 1.2 million euros. The three plots are all located in the parish of São Gonçalo. Original Story: Idealista Foto: Visual Hunt  
 
Ex-Margueira Shipyards Focus of Largest Real Estate Sale of the Century in Lisbon
15 May 2019Richard D. K. Turner According to an article in the Jornal Econômico, the Baía do Tejo, a subsidiary of the Portuguese state’s holding company Parpública, is to sell the land that once housed the former Margueira shipyards in the largest real estate transaction of the century in Lisbon. The 53-hectare property is slated for development into a project called Water City. It will include hotels, offices, shops, cultural venues and other services. Two other public tenders will auction rights to build and operate a marina and a riverboat terminal. The development is expected to take up to 15 years and involve an investment of anywhere from one to two billion euros. Original Story: Jornal Econômico - Nuno Miguel Silva and Rodolfo Alexandre Reis