Mercan Group buys Alfragide Business Center for €5M

Mercan Group buys Alfragide Business Center for €5M

The Mercan Group, based in Canada, bought the Alfragide Business Center for around 5 million euros. Altamira Portugal, credit and real estate asset manager, accompanied the sale process.

The Alfragide Business Center consists of 3 buildings, two of them services, measuring 3,727 square meters, and a warehouse measuring 1,188 square meters, located on a plot of land with an area of ​​over 6,800 square meters.

The Mercan Group currently has 13 hotel projects in Portugal, in locations such as Porto, Gaia, Matosinhos, Amarante and Évora, its most recent bet, where it will invest 21 million euros in a new hotel.

Jordi Vilanova, vice-president of Grupo Mercan, highlights that «this is our first project in Lisbon. It reinforces our commitment to the tourism sector and the positive impact we want to have on the country's economy, adding to the other hotel projects we are developing and which will have a relevant weight in job creation, both in the development and construction phases. , as in the future hotel management, which will be long-term».

João Ribeiro, director of Real Estate at Altamira Portugal, comments that «for this asset, a process of transformation to new buildings was already underway, which with this sale will be enhanced». He emphasizes that «the development of hotel projects continues to be a trend in the real estate sector and this project will certainly contribute to boosting the Western corridor», he concludes.

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