By Posted 8 Janeiro, 2025 In Development, News, Real Estate, Real Estate Investments
Grupo Azinor, owner of the Sana hotel chain, has reached an agreement with Grupo SIL to acquire the Porto Cruz real estate mega-project, located in Cruz Quebrada near Lisbon, Jornal Económico reports, citing a source linked to the project.
The Enterprise Value (including debt) of the deal stands at around €80 million. This amount has not been confirmed since the parties involved refused to comment, the newspaper said.
Located in the riverside area that connects Lisbon to Oeiras, the real estate mega-project foresees three residential buildings in a private condominium, a hotel, offices and a commercial area, which are surrounded by 70,000 m² of public leisure spaces, including 20,000 m² of green areas for public use.
The Porto Cruz project involves construction over an area of more than 27 hectares, where the old Lusalite and Gist Brocades factories were located. An Alameda Verde (Tree-lined avenue) will act as a gateway to the entire Porto Cruz development.
This route will pass through an amphitheater with 2,500 seats for shows, and will allow access to ocean pools and a new and extended Cruz Quebrada beach. The project also includes an ample parking area and transport facilities from a newly-refurbished railway Cruz Quebrada railway station.