All Market News: Spanish Real Estate Intelligence

Sonae to Open Santa Apolónia Hotel in 2021
23 October 2020 - The future Santa Apolónia station hotel in Lisbon is expected to open in the summer of next year, after construction began in July, in a €12-million investment. Part of the railway station is being refurbished to convert it into a 125-room, 4-star hotel by Capital The House Ribeira, a subsidiary of the Sonae group. Sonae won the public tender by Infraestruturas de Portugal to build and then operate the hotel for 50 years. The office of Miguel Saraiva designed the project. Original Story: Vida Imobiliária - Ana Tavares Translation/Summary: Richard D. Turner
Porto City Council and IHRU Reach Agreement to House 1,700 Families
23 October 2020 - A recent agreement between the Porto City Council and IHRU aims to rehouse 1,740 families, including approximately 3,800 people who are currently living in poor conditions, in the years between 2020 and 2025. According to an article in Porto.pt, the plan will include subletting homes to 75 families, the renovation of existing homes for 1,345 families, the construction of housing developments for 200 families, and the acquisition of degraded buildings or flats for rehabilitation to provide housing for a further 120 families. The article added that the two entities would invest a total 56 million euros, including a €25-million grant and a €21-million long-term subsidised loan. Original Story: Vida Imobiliária - Fernanda Cerqueira Translation/Summary: Richard D. Turner
NorteShopping Inaugurates New Luxury Shopping Area
23 October 2020 - Works to upgrade and expand the NorteShopping in Matosinhos concluded this week, after a total investment of 77 million euros, which began in 2017. The shopping centre now has a new luxury goods centre, called the Galleria. The largest shopping centre in northern Portugal inaugurated the Galleria this week. The exclusive, 5,000-m2 space includes 18 new shops, with such top brands as Maybach, Twin-Set, Max Mara WeekEnd, Hugo Boss, Polo Ralph Lauren, Gant, Adolfo Dominguez, Roberto Verino, Furla, Elements, Arcadia, Tommy Hilfiger, Claudie Pierlot, Sandro and Maje. Another previous upgrade to the site consisted of the CookBook, a new third-generation food court. A new lobby was also built on the 1st floor, and the Zara store expanded its footprint. Original Story: Vida Imobiliária - Fernanda Cerqueira/Ana Tavares Translation/Summary: Richard D. Turner