On one hand, commercial real estate (offices, retail and logistic) generated 3.000 million euro investments, through large scale operations. «We are in another league» in terms of investment, believes Eric van Leuven, who stresses that «investment records were also broken in the occupational market, which was very dynamic», besides the Portuguese market having gotten closer to the European market, visible in the yields compression to historical levels, «just like in Europe».

The retail sector leads in terms of amount invested (1.400 million), due to the sale of several shopping centres, such as Blackstone’s portfolio, Almada Forum or Dolce Vita Tejo, among others. The office sector follows with 950 million, and Marta Esteves Costa, from the Research Department at C&W, stresses that «hotels represented 8% of the investment (200 million), and stood out as a new investment sector» during the last years.

Investors kept diversifying, both in terms of investment product, as in terms of risk profile or geography. C&W notes that some American investors (opportunistic) who entered the market some years ago «are now leaving» Portugal, to look for new business alternatives.

On the other hand, urban development and renewal represented an investment of around 2.000 million euro, corresponding to 50 operations, including the sale of Golden portfolio, from Fidelidade, Viriato portfolio, from Novo Banco, or Centauro portfolio, from Banif. But the consultant considers these numbers to be conservative, given the difficulty to monitor these transactions, being a «new market» which can’t yet be compared to previous years like the commercial real estate market.

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