Fidelidade wants to sell a 5 building portfolio until the end of the year

Fidelidade wants to sell a 5 building portfolio until the end of the year

This set of buildings called Project Arya includes the Calhariz headquarters, in Chiado, with 19.000 sqm; the José Malhoa 13 building, at Praça de Espanha; the Marechal Saldanha building, at the Santa Catarina area – to be converted into housing; and the «Terminal K» building, a «ruin» locted in front of the new Lisbon Cruise Terminal, which will feature a hotel. The portfolio also includes an old hospital in Porto, where a hotel should also be built. 

In the cases of the Calhariz headquarters and the José Malhoa avenue building, Fidelidade intends to carry out  sale & leaseback operations, which it considers to be «good for everyone», in particular to Fidelidade, which continues as a tenant until its new headquarters in Entrecampos, where it will concentrate all its services for the coming years, is built, and it’s also for the new owner, which will acquire an asset with a guaranteed tenant. 

The buildings will be sold «in a regular competitive real estate portfolio selling process», following several stages and Fidelidade has already had «many interested parties», namely «very well known national and international operators. These assets correspond to the interest Lisbon has awoken», stated Miguel Santana. 

These are non-strategic assets for Fidelidade, which at the end of last year acquired the terrains of the Entrecampos Integrated Operation for 273.9 million euro. This is where Fidelidade will build its new headquarters, concentrating all its services in one single space. «We make our decisions concerning our portfolio considering the relocation of the new headquarters». Miguel Santana remarked the Entrecampos’ Project dimension and justified that «we must focus in terms of development».

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