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All Market News: Spanish Real Estate Intelligence

Finland’s Pontos Group to Invest €260 Million in the Ombria Resort
28 November 2019 – The Pontos Group, a Finnish family office, is investing in a new luxury hotel development 7 km north of Loulé, in the Algarve. The Viceroy Residences at Ombria Resort will have 65 one-to-two bedroom flats contained within the larger Viceroy at Ombria Resort hotel. The new project will also include 76 deluxe rooms and suites. The Pontos Group is looking to invest a total of 260 million euros in the new development, which it expects to be ready in 2022. The US firm Viceroy Hotel Group will operate the resort, which boasts six restaurants, swimming pools, a spa, gym, kids club and astronomical observatory. Pre-sales have already begun. The Viceroy Residences at Ombria Resort will have surface areas ranging from 70 to 173 square meters, and each flat will have a fully equipped kitchen, living room, bedrooms, bathrooms and balconies. Original Story: Jornal Económico - Rodolfo Alexandre Reis Adaptation/Translation: Richard D. K. Turner
 
Cerquia and Acciona of Spain to Build 1000 Homes in Lisbon
21 November 2019 - The Spanish developers Cerquia and Acciona announced plans to jointly develop 1,000 new homes in Lisbon, in four new developments. Cerquia has already been active in the Portuguese real estate market for 13 years. Alcântara Rio 2, which is located to the vacant Alcântara Rio residential and commercial condominium, will comprise a 74-flat apartment building. Cerquia acquired the property from Millennium bcp, which took it over from the Portuguese construction company Obriverca. Construction should start in the second half of 2020. Cerquia and Acciona are also planning to build an 800-home development, 300 of which will be rentals, near Parque das Nações. The other two will be in Graça (100 homes) and Alcântara (18 lofts). Original Story: Idealista Adaptation/Translation: Richard D. K. Turner
 
Mesquita de Sousa Begins Work on 5-Star Hotel in Aveiro
21 November 2019 - Mesquita de Sousa Hotels & Resorts will open Aveiro’s first five-star hotel in the former manor of the Visconde de Valdemouro. The developer is investing a total of approximately five million euros in refurbishing the 150-year old property. The hotel, which faces Rua José Estevão and Travessa dos Ourives, will have 42 rooms, outdoor and indoor pools, a spa, garden and restaurant. Mesquita de Sousa expects to finish construction in the second half of 2021. Original Story: Litoral Magazine Adaptation/Translation: Richard D. K. Turner