#Brainsflash - Of note last week was the announcement by the promoting company Carvoeiro Branco that it is going to invest 132 million euros in seven new projects in the Algarve
Not even the last colder days have cooled down the real estate market in the country. A little from north to south, some transactions and several investments were finalized. In the past week, prominent announcements have come out in most segments of the industry.
Monday was a day full of news. To start the week it became public that M7 Real Estate has vsold the Forte 9 building to Lusoproa. The former installations of Cervejaria Lusitânia used to operate in the property. With licensing approved, the Forte 9 building, located in Carnaxide, Oeiras, will be entirely dedicated to services, totalling around 3,500 square meters of ABC (Área Bruta de Construção - Gross Construction Area). The transaction amount has not been disclosed.
Secondly, Mota-Engil proceeds with an investment of 70 million in a residential project in Porto. AURIOS, the new luxury development consists of 26 villas, 22 flats and is located on the banks of the Douro River, in Quinta da China. With an area of 15,583 m2, the construction of the AURIOS will be completed in the first quarter of 2025. EMERGE - Mota-Engil Real Estate Developers has just started pre-selling the AURIOS.
Meanwhile, Vanguard Properties has acquired 50% of ECOSTEEL in an investment of 30 million. The investment will enable the creation of a new industrial unit for the production of cross-laminated wood for the construction of tall buildings.
Finally, Belgian promoters announced an investment of 70 million euros in the Arcoverde – new urban living project. Krest Real Estate investments and Revive, announced their first partnership in Portugal, the development is located in an area undergoing rehabilitation in the municipality of Oeiras.
On Wednesday, CUF informed that it is opening a clinic in Leiria as a result of an investment of eight million euros. The most recent unit in the CUF network is located in an area of over 1,300 square metres, in the Urbanização da Quinta da Malta. The construction of a hospital is also planned, which will represent an investment of 50 million euros.
Soon after, it became known that the promoting company Carvoeiro Branco is going to invest 132 million euros in seven new projects in the Algarve. Carvoeiro Branco, led by businessman Erik de Vlieger, will launch the projects in the municipality of Lagoa, in the Algarve, with an investment estimated at 131.9 million euros. The promoter is a minority shareholder of the Carvoeiro Clube Group.
To close the week, it has also been announced that Galp is changing its headquarters to the ALLO – Alcântara Lisbon Offices. The oil company will change its headquarters, moving from the Torres de Lisboa to the ALLO – Alcântara Lisbon Office. The change of headquarters should take place at the end of the year and the rent of the new space reaches five million euros per year.