Right at the beginning of the month marked by the arrival of spring on the calendar, the real estate market felt vigorous and expressive, despite the cold weather. This first week of the month is the transition from the month that celebrated Carnival to the month that, with the arrival of the new season, symbolizes renewal and new cycles. The real estate sector has followed the trend on these recent days, highlighting new beginnings and many transactions and investments.
At the beginning of the week, the investment of 6 million euros in the creation of a wine tourism complex in Viana do Castelo was made public. The investment concerns the installation of an enterprise at Solar da Videira and Solar de Louredo, in order to reconvert them into buildings for the production of wines.
Meanwhile, SLM Partners acquired two agricultural properties in Alentejo. The assets represent an agricultural property of 121 hectares, located in Odivelas, Ferreira do Alentejo, and another property of 142 hectares, located in Montoito, in Redondo. The investment value of the operation has not been disclosed.
Soon after, the Trofa Saúde Group announced that it is investing 50 million euros in a new hospital in Penafiel, in the district of Porto. The new unit, scheduled to open in May 2025, will be built from scratch and is located near the Padre Américo Hospital.
March began with the opening of an Aldi store in Vila Nova da Telha. The new space, located in the municipality of Maia, with a sales area of 1,040 m2, brings the number of the food retailer’s stores up to 126 nationwide.
In the meantime, it was learned that the old and historic Convento da Luz, located in Rio Moinhos, in the municipality of Borba, will be rehabilitated. The asset will be the new home of a premium tourist development, which includes the installation of a five-star hotel as well as tourist units.
Mercan Properties has also announced an investment of 18.2 million euros in the construction of a hotel on the Alentejo coast, in Santiago do Cacém. The Hotel located on the beach of Costa de Santo André should open its doors in the summer of 2024. The four-star project is located 300 meters from the beach and has a total construction area of about 2600 m2.
Finally, the North American promoter Highgate is entering Portugal with the launch of a new company, the HG Portugal. The promoter will manage 18 hotels that have been part of the Crow Project and that operate with the brands of the Hilton and IHG groups.