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retail-shopping-centers Market News: Spanish Real Estate Intelligence

Fidelidade to Sell ARYA, a Portfolio of Five Properties in Lisbon and Porto
10 September 2019 Fidelidade is planning the sale of a portfolio of five properties in Lisbon and Porto, including its headquarters in Chiado. The insurer hopes to sell the portfolio, known as ARYA, by the end of the year for approximately 130 million euros. Fidelidade currently has its headquarters in a 19,000-m2, pink-coloured building located Largo Calhariz 30. However, after having acquired the Feira Popular last year for over €270 million, the firm is planning on concentrating all of its operations at a single site. ARYA consists of the firm’s headquarters, valued at €25 million; the 6,630-m2 Terminal K, in Santa Apolónia, a potential hotel; the 2,334-m2 Marechal Saldanha, Malhoa 13, on the Praça de Espanha, and the Galeria de Paris, in Porto. Original Story: Economia Online - Rita Neto Adaptation/Translation: Richard D. K. Turner
 
China’s EMGI to Invest €300 Million in Major Mixed-Use Development in Lisbon
29 August 2019 The EMGI Group has acquired a significantly sized plot of land in Alcântara, called Encosta da Tapada, and plans to invest a total of 300 million euros in a mixed-use development. The approximately 14-hectare plot of land is located next to the former Alvito Quarry, in Alcântara, Lisbon. The Encosta da Tapada project consists of a mixed-use development with 87,000 square meters of flats, 22,000 m2 of offices and 11,000 m2 of shops, along with 900 parking spaces. About 25% of the total 550 planned apartments will participate in the Portuguese government’s Affordable Rental program, an initiative that provides tax incentives to developers to create below-market rental housing. The Chinese investor group is currently investing in six other real estate projects in Lisbon. Original Story: Economia Online - Leonor Mateus Ferreira Adaptation/Translation: Richard D. K. Turner  
 
Spain’s Tander Acquires Four Stores in Porto for €15.7 Million
12 August 2019 Tander Inversiones, a socimi backed by the Barcelona-based firm Gadina, has acquired four retail spaces in Porto for €15.7 million. The stores, three of which are currently leased, are located on Avenida dos Aliados, numbers 107, 115, 121 and 133. The four properties have combined surface area totalling 1,719 square meters. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner