It is a new residential development at the Graça area. According to the newspaper, this investment is part of a partnership with Clever Red, which belongs to entrepreneur Carlos Cercadillo, building restoration developer. The development also involved a deal with Grupo NAU Hotels & Resorts. The operation was advised by Worx.
This bet on the Portuguese market takes place at a time when Acciona is selling its stake at Testa Residencial, for around 370 million euro.
Merlin Properties, Vía Célere, Atitlan, MK Premium, Mabel Capital or Kronos are examples of other Spanish real estate companies which are currently investing in the Portuguese market.