Ageas will invest €150M in offices and housing

Ageas will invest €150M in offices and housing

Gilles Emond, in charge of real estate at the group, explained to Expresso that «we want to expand our portfolio from 450 million euro to 600 million euro until 2022».

An example of that investment is the recent purchase of office building Expo Tower located at Parque das Nações, where all the group’s activity will be concentrated. The office building was acquired from funds managed by Anchorage Capital Group, L.L.C., and from Lace Investment Partners. The 6.000 sqm building is located at Parque das Nações, in Lisbon.

Soon, the Rialto, in Porto, a mixed housing, office and retail building, located at Praça D. João I, will be placed on sale.

«Within one or two weeks we should conclude the sale of Rialto to a Portuguese group», advanced Gilles Emond, without disclosing the name of the buyer or the amount of the sale, due to a confidentiality clause. But sources heard by the weekly newspaper point towards an amount of around 10 million euro. This 1940s building, «needs to be refurbished, and that is not our focus right now», justified Emond.

Affordable housing in Lisbon is on the company’s plans

Affordable housing is under Ageas’ sights, besides investing in offices, the company’s main focus.

Emond advanced that the insurer is following up with interest the public-private partnerships within the housing segment in Lisbon, especially the Municipal Affordable Rental Program.

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