real-estate-news Market News: Portuguese Real Estate Intelligence

World Travel Awards Honour Algarve, Lisboa and Madeira
2 December 2020According to an announcement by Portugal’s Ministry of Economic Affairs, Madeira, Lisbon and Algarve won awards at the World Travel Awards as the best island destination, best 'city break' and best beach destination, respectively. The region of Madeira held on to its position, which it had already won the year before. Rita Marques, the Secretary of State for Tourism, noted that "By overcoming all constraints, we preserve the reputation and visibility of our destinations". Portugal has thus demonstrated that it is "a safe country, ready for all to visit when possible." Awarded annually since 1993, the World Travel Awards also recognised Portugal’s efforts in other tourism categories. Original Story: Notícias ao Minuto – Lusa Translation/Summary: Richard Turner
Hilton Moves Ahead With Three More Hotels in Portugal
2 December 2020The international hotel group Hilton will move ahead this year with three new projects in Portugal. The units will open in Cascais, Porto and the Azores, in an 80-million-euro total investment. Even the pandemic has failed to put an end to Hilton's plans to expand in Portugal, with the group planning to start work on development as early as next year. The three new hotels have different submarkets and will include the multinational hotel company's premieres in Cascais and also in the Azores, and a second in Porto. The conversion of independent hotels into Hilton branded units has been a trend that market watchers have noticed throughout Europe. Original Story: Expresso – Conceição Antunes Translation/Summary: Richard Turner
Quântico-Albatross to Build New Antas Atrium Development next to the Estádio do Dragão
1 December 2020The Quântico-Albatross investment fund, which was created in 2017, has begun work on the Antas Atrium residential development, in Porto, in an estimated investment of more than €240 million. The fund was created to invest in the development and rehabilitation of prime housing, and is now investing in this 1,100-flat project. The first phase of construction on the condominium in Porto is scheduled to begin in March 2021, with 180 flats with sales prices of 3,500 euros/m2. The major new residential development is a short distance from the Dragão Stadium and will be developed in six phases, with a planned duration of 6 to 8 years. The Antas Atrium development has a planned gross construction area of 177,000 m2, including 122,000 m2 above ground and 55,000 m2 of below ground, divided into 121,000 m2 for residential use, 1,700 m2 for commerce and 3,000 m2 for infrastructure facilities. The site will also boast 1,800 parking spaces. Original Story: Idealista – Elisabete Soares Translation/Summary: Richard Turner