Last week, ADDSOLID has invested 30 million euros in a new project in Loures

The biggest investments and main highlights of the past week in the real estate market.

With the month of November almost coming to an end, the past week started timidly, but quickly witnessed several investments and reports in some of the real estate market segments, from north to south of the country.

At the beginning of the week, the SPintos Group has announced the opening of a student residence in Porto, located next to the Cooperativa de Ensino Superior Politécnico e Universitário, in an investment of 3 million euros. “MEU STUDIO” comprises 71 studios, of single, double or triple occupancy, the opening being scheduled for January 2023.

Meanwhile, it became public that ADDSOLID has invested 30 million euros in a new project in Loures, bringing together housing, commerce and a vast network of services, with emphasis on a senior residence and a long-term care unit. Located in Quinta da Freixeira, the project comprises 11,000m2 of housing, as well as 7,600m2 for commerce, services, a technology centre and restaurants, 8,100m2 for the senior residence and 2,500m2 for the long-term care unit.

On the subject of rehabilitation, shortly thereafter, the Porto City Council announced an investment worth 7.7 million euros from the Recovery and Resilience Plan, to rehabilitate the Ilhas da Lomba located in the parish of Bonfim. The rehabilitation project should be completed by June 2026. It includes a building with signs of degradation, which has 47 dwellings of typologies T1 to T3.

Meanwhile, the Government has also announced an increase of 72 million euros in student accommodation by means of eight contracts. With this amount, it will be possible to sign up all the approved projects, in a set of over 18 thousand intervened beds.

With the week coming to an end, another investment was made public, this time by GFH, which went ahead with the new residential project “The Yard”, located in Jardins da Arrábida, in Porto, close to the Arrábida Shopping and the future underground line Porto-Gaia. The development has type T2 to T4 flats, and common areas available to all residents. The construction process began this year in May and the first residents are expected to arrive in the second half of 2024.

Finally, in the logistics segment, Mistolin announced its new logistics centre, in an investment of 5 million euros. This will emerge in the industrial zone of Vagos, adjacent to the existing company’s building. With an operating date scheduled for 2023 or 2024, the project aims to create an interconnection among all the commercial systems of the group, therefore serving the entire MSTN group.