Of note last weel was the annoucement that the Hard Rock Hotel Algarve will open in Portimão

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

Hipoges and JLL finalise land sale for Campolide – Nova Goa residential development

Hipoges and JLL have completed the sale of the land for this new real estate project, which will have approximately 7,500 m2 of above-ground construction and 59 apartments. This residential asset, covering about 7,500 m2 and culminating in the construction of 59 apartments, bears the signature of architect Regino Cruz, known for sustainable integration into the surroundings and maximizing the lifespan of high-quality projects for users and the community. The project also benefits from a premium location in the city of Lisbon.

Californian Investors Acquire Boutique Farmhouse Hotel

The transaction was conducted by Athena Advisers, representing the buyer, and CBRE, acting on behalf of the owners, in the sale of the boutique hotel Pensão Agrícola, located in the Tavira region. The small rural hotel will now become the holiday residence of a Californian family while continuing to operate as tourist accommodation. The investment value was not disclosed.

EUR 20 million investment in Eagle 3 development

The Eagle 3 building, located in Oeiras Golf, is a development co-exclusively marketed by Porta da Frente Christie’s and JLL. With an initial investment of 20 million euros, the Eagle 3 building aligns with the trend of moving residences from central Lisbon to Oeiras. It is inspired by greenery and designed for a sophisticated lifestyle that combines golf at the doorstep with the beach just ten minutes away.

Cushman & Wakefield and Savills responsible for sale of two Cifial plants

Cushman & Wakefield and Savills, under a co-exclusive arrangement, are responsible for the commercialization of two factories owned by Cifial, located in Santa Maria da Feira and Viseu. At the Bodo site, the property is situated on a plot of 58,409 square meters with a built-up area of 24,403 square meters. As for the Santa Comba Dão site, it is located on a plot of 69,190 square meters with a built-up area of 17,373 square meters.

Hard Rock Hotel Algarve to open in Portimão

Hard Rock International and Mercan Properties have just announced plans to launch the new Hard Rock Hotel Algarve in Portugal. The new development will be located near the stunning Praia do Vau beach in Portimão, further expanding the global reach of this iconic brand. The investment amount has not been disclosed. The hotel unit, expected to begin construction in early 2024 and open in the summer of 2026, will feature around 275 luxury rooms and suites, as well as 150 apartments with personalized brand services.

FIIA CA Património Crescente acquires La Vie Funchal shopping center

CBRE advised CentroNovoFunchal SA in the sale of La Vie Funchal Shopping Center to the Open Real Estate Investment Fund CA Património Crescente. The selling entity, CentroNovoFunchal S.A., is owned by approximately 50% by the HLP fund, managed by ECS Capital, and about 40% by Grupo Oitante, along with other minority shareholders. In this transaction, the seller was advised by Uria Menéndez – Proença de Carvalho and NewCycle, while the buyer was supported by RPE and Engexpor.