VGP invests €12M in a new land in Portugal

VGP invests €12M in a new land in Portugal

It is VGP's latest bet in Portugal. The company announced the purchase of a plot of land with more than 27,000 sqm in Sintra, where it will build a new logistics enterprise focused on the “industrial light” and “last mile” market.

From 2022, VGP Park Sintra will offer areas up to 13,000 sqm, fulfilling all the criteria of energy efficiency and sustainability in construction, with a focus on BREEAM Very Good certificates. According to VGP, an investment of 12 million euros is at stake.

José Ferreira, Country Manager of VGP Portugal, says: «We are delighted that we are developing our first park here in Sintra and, thus, can contribute to economic development in the region. Sintra is the second biggest city of Portugal in population and we believe the park will become a success. VGP is offering to our future tenants the full potential of a modern logistics warehouse.»

The VGP Group currently operates in twelve European countries with a total of 77 parks. In Portugal, VGP Park Sintra is VGP’s second business park. In 2019, the Group expanded to Portugal and launched its first park VGP Park Santa Maria da Feira, construction of which will start in March 2021.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!