Of particular note in the past week was the announcement of Kronos Real Estate Grupo, of the expansion of its portfolio in Portugal. Assets include approximately 750 properties already built and 425 units to be developed.

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

Last week, there were some announcements about new investments, but mostly they were devoted to the presentation of studies and statistics of some real estate companies trading in the market. Between balance sheets for 2022 and perspectives and analyses for 2023, this is the way January ended and February began. However, the sector brought some novelties of great relevance.

On the last day of January, it became public that the former headquarters of a recognized German pharmaceutical company, in Carnaxide, had been transacted to a national family office. The “stand-alone” building has 5,600 m2, is close to several headquarters of international entities, and also to the ALEGRO shopping centre. The value of the investment has not been disclosed.

Meanwhile, with the month of February starting, Kronos Real Estate Group, announced the expansion of its portfolio in Portugal. The assets include around 750 properties already built and 425 units to be developed. The deal represents a potential of more than 1,000 million euros in property sales. Through this new significant acquisition, Kronos Real Estate Group positions itself as one of the main resort managers and real estate developers in Portugal, which will now manage and operate a portfolio of 14 projects.

Afterwards, the Portuguese company Inipol acquired, from Caixa Geral de Depósitos, an industrial unit in Marinha Grande, with around 10,000 m2. The transacted property consists of two naves with basement, which include two warehouses, one of which also has spaces dedicated to manufacturing and administrative services. The industrial unit has been vacant for approximately 10 years and the new owner is going to renovate the property. The investment value has not been disclosed.

Finally, there was the announcement of 47 million euros invested in a tourist development for seniors in Vilamoura. Domaine de Vilamoura is part of a large mixed-use urban requalification project that will include residential buildings, tourist accommodation, shopping and leisure areas. The development has an area of around 13,000 m² and the tourist apartment building will have 159 apartments. The new development, located in Vilamoura, is the result of a partnership between Nexity Portugal, the AEGIDE Group and Perial ASSET Management.