land Market News: Spanish Real Estate Intelligence

Oeiras Sells Plot of Land for €14 Million
19 June 2020 The Oeiras Town Council has sold a 21,000-m2 plot of land in the Esparagal neighbourhood of Oeiras for 14 million euros at an auction held this week. The amount was 40% above the base price of 10 million euros. The plot of land is located in the joint parishes of Oeiras and São Julião da Barra, Paço de Arcos e Caxias. The municipality postponed the initial two auctions due to the Covid-19 pandemic and lockdown. Original Story: Economia Online – Mariana Espírito Santo Translation/Summary: Richard D. Turner
Vanguard Properties to Invest €280 Million to Build Foz do Tejo in Oeiras
9 May 2020 Vanguard Properties will begin work on a major new mixed-use development in Oeiras. The new complex, baptised the Foz do Tejo, will include homes, offices and hotels and is expected to be completed within five years, in an investment of approximately 280 million euros. The Foz do Tejo will be built on a 30-hectare plot of land located at Alto da Boa Viagem, in Jamor, in  Metropolitan Lisbon. The initial phase of construction will see the development of 400 flats, 25 single-family houses, about 28,000 square meters of offices and stores, a 150-room hotel, a 400-flat aparthotel and an additional building with stores and services. The complex will give residents access to an international sports and events centre, with tennis courts, paddleball, and a gym. The Foz do Tejo development will be divided into two areas: the Alto do Farol, with single-family homes, a 19th-century palace and a series of refurbished buildings with services and retail stores. The second, Alto do Rio, will consist of three 18-story apartments blocks, with homes ranging from 2-bedroom to 6-bedroom flats, along with a hotel and an aparthotel. The developer has stated that 94% of the land will remain as parks and gardens, open to the public. Original Story: Economia Online - Rita Neto Image: D.R. Translation/Summary: Richard D. Turner
VIC Properties Acquires the Herdade do Pinheirinho
6 May 2020 VIC Properties has acquired the Herdade do Pinheirinho, in Grândola, from Novo Banco. The developer is looking to build 700 flats and villas on the 200 hectares of land, with a total investment of up to 500 million euros. Herdade do Pinheirinho is in Melides and has direct access to the beach. The first phase of construction will include a hotel, 450 villas and 250 flats. There is an existing golf course already in operation. Original Story: Economia Online - Rita Neto Translation/Summary: Richard D. Turner