CBRE Portugal beats record for 5th year running
The real estate consultancy CBRE saw business grow 22% in 2019 after Portugal’s real estate sector transacted €3.5Bn.
In what was a record year for CBRE Portugal and a record for the 5th consecutive year in terms of business volume with operations in Lisbon seeing a 15.5% growth while the Porto office doubled its transaction turnover thanks to the buoyant commercial real estate market in the North.
Keeping pace with the overall trend of the sector in 2019 which was defined by the transactions of various real estate investment fund portfolios as well as strong investment in hotels, CBRE’s business areas which enjoyed strongest growth in 2019 were Retail Agency, Property Management and Capital Markets with a special focus on the Hotels area.
Another highlight was Valuations and Consultancy which saw a considerable increase in operations with international clients (75% of the entire client portfolio are foreigners).
Among the main Capital Markets deals in 2019 were the transactions of iconic buildings such as D. Manuel II in Porto and Fontes Pereira de Melo 41 and Alexandre Herculano 50 in Lisbon, the sale of parcels of land at Alta de Lisboa and the sale of the Nestlé Building in a Sale and Leaseback deal with CBRE representing each of the respective sellers.
In terms of deals in the offices market, the Arya portfolio is highlighted with CBRE acting on behalf of Fidelidade in the sale, as well as in the sale of housing for rent portfolios acquired by insurance companies, namely AXA, where CBRE acted on behalf of the buyers.
Finally, it was involved in the transaction of three Sonae Sierra shopping centres – LoureShopping, Oitava Avenida and RioSul Shopping – representing the buyer Harbert and led by CBRE’s Property Management Department.