Until June were raised around €1,000 million in commercial real estate investment, in line with the value registered same period last year, in a total of 22 transactions.
In this amount it’s highly considered the Blackstone sale of the company Logicor to China Investment Corporation. This transaction included 16 properties in Portugal. The sale of Forum Viseu, Forum Coimbra, or Vila do Conde Nassica Outlet are also of note in this period, as well as the sale of a large Tranquilidade portfolio.
The consultant revises its expectations up after «a very positive dynamic among the Portuguese real estate sector in the first semester of 2017», taking into account the assets in the market and the ones about to enter in the market: «There’s currently a significant volume of assets under negotiation or soon to be traded, including two shopping centers portfolio and two others with several offices buildings, as well as many others individual assets of offices, logistics, supermarkets, hotels and shopping centers», explained the consultant in a statement. Thus, is expected that 2017 finishes with an identical result to the record obtained in 2015, «with a probability to achieve a new historic record close to the €3.000 million».
Cristina Arouca, Research Director at CBRE, mentions that «global numbers of the Portuguese real estate sector, in the first semester, are quite positive, presenting an evolution for which has contributed a scenario of trust, resulting from the country’ economic recovery path».
Regarding the investment, the shortage of quality offices spaces «will remain a problem for the next years», mainly taking into account the time needed to a new construction. Only 10,800m² will get to the market this year, and the other 11,000m² will be available next year, at Torre de Lisboa (Fontes Pereira de Melo 41) and Espaço 7 Rios.
In retail, there are not many new openings, and in the 1º semester there was no new unity, but it’s expected the opening of Mar Shopping Algarve, Designer Outlet Algarve and Évora Shopping until the end of the year, in a total of 94,100m².