Portugal: Guest Country Partner
Over the last couple of years, Portugal’s Real Estate market has been in the spotlight.
The month of May brought with it a series of announcements in the real estate market and new investments throughout Portugal. There were operations in all sectors of the market, especially in housing and hotels.
In the residential sector, the launch of new luxury development in Funchal, the capital of the Madeira archipelago, has been announced the last year. The project sits on a plot of 3,322 square meters. In addition, a project to develop 400 apartments was announced, with an investment of 16.25 million euros. São João da Praça, the new residential project in Alfama that comes from the rehabilitation of a 9-story. The Pestana Group inaugurated its Madeira Acqua Residences, an investment of 100 million euros.
Investments have also been made in offices, the highlight for this sector was the sale of a building on Avenida de Berna for 15 million euros. CORUM Eurion has also announced the acquisition of a building in Porto for €16 million.
In the hotel sector, major investments have also been announced as Discovery Hotel Management launched Octant Hotels, Azora acquired the Pestana Blue Alvor in the Algarve, Herdade Monteverde opened its doors this year and Sonae Capital announced the sale of Aqualuz Tróia Mar & Rio and The Editory By The Sea Tróia-Comporta.
For reasons such as these, Portugal has been chosen as the guest country for the first edition of The District.