Source: Freepik Author: Redaction The luxury residential market in Portugal continues to grow, with the Algarve, Porto and Lisbon highlighted. These findings are in The Wealth Report , an annual study by consultant Knight Frank, a partner of real estate firm Quintela and Penalva since 2021, which also reveals that one million euros gives only to buy 67 m 2 in Quinta do Lago, while with the same value it is possible to acquire 110 m 2 in Barcelona or 90 m 2 in Lake Como, Italy. The study, sent in a statement to SUPERCASA Notícias , shows that the Algarve is in the top 5 of the world markets in the luxury residential sector, where prices performed best in 2023. According to the study, among the top 100 destinations in the world in terms of price appreciation in 2023, the Algarve appears in fourth position, with a price increase of 12.3%, o nly behind destinations such as Manila (Philippines, 26.3%), Dubai (United Arab Emirates, 15.9%) and Bahamas (15%). With one million dollars, it is possible to buy in Quinta do Lago, in the Algarve, a luxury residence second home with 67 square meters (m 2 ), while with the same value it is possible to acquire 110 m 2 in Barcelona, Spain, or about 90 m 2 in Lake Como, in Italy. The lack of supply and the unique character of Quinta do Lago, explain the sharp growth in prices. Lisbon and Porto continue to grow In the list of cities and regions with annual growth in stable or positive prices are the cities of Lisbon and Porto . The two cities remain on positive ground, with growth in the order of 2.2% and 5%, respectively. Thus, Porto appears in 29th position , ahead of, São Paulo, Rome, Barcelona, Milan or Paris. Already Lisbon, is in 60th place, and surpasses cities such as Dublin, Vienna, Tokyo, Berlin or New York. The Knight Frank study also reveals that the price of luxury real estate in Lisbon is still expected to grow in 2024, in the order of 2.5%, being preceded by Seoul, South Korea, Zurich, New York or Paris. For Francisco Quintela, CEO of Quintela e Penalva, Knight Frank’s partner in Portugal , Lisbon remains on the radar and is in the top 10 of the survey in terms of location for new buyers, as stated in The Wealth Report. The forecast for growth in luxury prices in Lisbon remains very significant, as demand remains very strong in the luxury housing market, particularly in Lisbon, Cascais and Comporta, where the demand for luxury properties has increased significantly . He adds that this reality is mostly corroborated by the interest and realization of business by foreign investors, with high investment capacity. According to The Wealth Report, which tracks the performance of luxury properties in 100 key locations (including cities, sun and ski destinations), 80 locations experienced stable or positive annual price growth. Manila (26%) leads, but last year’s leader Dubai (16%) fell just one place. Asia-Pacific (3.8%) overtook the Americas (3.6%) to gain the title of best-performing world region, with Europe, the Middle East and Africa lagging behind (2.6%). As predicted last year, sunny locations continued to outperform, with an average increase of 4.7%, closely followed by ski resorts (3.3%) and cities (2.7%). According to Knight Frank’s The Wealth Report 2024, the number of UHNWIs in Portugal - those with a net worth of $30 million or more - will increase by 25%, reaching 1000 individuals by 2028. For Kate Everett-Allen, Head of International & Country Research at Knight Frank , in the note to which SUPERCASA Notícias had access, this fact, combined with the expectation that the ECB will start reducing rates in the summer, along with the recovery of the tourism sector in the country, will attract more second home owners and investors. It is thus expected that luxury prices will increase 2.5% in Lisbon in 2024. Follow more topics like this in SUPERCASA Notícias
Source: Freepik Author: Redaction Last Friday, March 22, Iberinform released data on the temporary work sector , which has seen solid growth in recent years. More than half of the companies were founded in the last five years, however, it is the oldest companies that have the highest turnover. The majority of temporary employment companies, 56%, were founded in the last five years, while 27% are between six and 15 years old. Only 11% were established 16 to 25 years ago, and 6% are over 25 years old. However, companies with more than 25 years lead in terms of turnover, representing 40% of the sector , says the consultant Iberinform. In this sense, the most recent companies (with two to five years), hold only 8% of the turnover of the sector , comparable to companies with 11 to 15 years. On the other hand, companies with 6 to 10 years represent 10% of turnover, and those with 16 to 25 years are responsible for the largest share of total turnover, 25%. It is micro and small companies that dominate the sector, with about 89% of temporary employment companies having this size, while only 9% correspond to medium-sized companies. Large companies account for 2% of the sector, however, in terms of turnover, microenterprises contribute only 1%, while small companies earn 23% and medium-sized 34%. Large companies, despite being only 2%, lead in terms of total turnover, with 42%, as highlighted by the data. In addition to these data, it was possible to conclude a significant concentration of temporary work companies in the main urban centers of the country , and the highest percentage, 36%, is located in Lisbon , followed by Porto , with 14%, Braga , with 10%, Setúbal , with 9%, and Santarém with 5%. There is thus a greater liquidity and financial health , since there is an improvement in the efficiency of the accounts payable management . For more related topics, read: 58% of entrepreneurs admit to having social and political concerns , Companies show signs of slowing in recruitment or Trend: fewer companies are born and more close in Portugal
Source: Freepik Author: Redaction The outgoing government of António Costa approved in March last year a project to expand the Metro Sul do Tejo that is now beginning to take shape, and the use of 1.65 million euros has been approved for the studies necessary for the development of the works, possible extension of the Almada metro lines to Costa da Caparica. According to the Lisbon Metro, the project aims to promote a quick and structuring link between the University Campus of the Faculty of Science and Technology of the New University of Lisbon and Costa da Caparica, extending into a corridor that will serve Trafaria, São João da Caparica, Quinta do Torrão, Quinta de Santo António and Costa da Caparica, ensuring a better connection of this territory to the current network of the Metro Sul do Tejo. And they justify: Metropolitano de Lisboa was the public entity chosen by the Government to carry out these works by the national and international experience it has in this field and given the nature of the project, the degree of complexity of the procedures inherent to the implementation of investments in public transport systems on own site (TCSP) of high capacity and the deadlines associated with financing under the Climate Action and Sustainability Program (PACS). In total, the work could cost around EUR 3.1 billion , having been considered a priority by the State, and hence be included in the PACS. More themes like this: Lisbon is the 18th city with the most population in the EU and Lisbon will compensate Lumiar in € 1.14M for cadastral error
Source: Freepik Author: Redaction Eurostat announced on Monday 18 March the ranking of the largest metropolitan regions of the European Union to mark the start of the 10th European Summit of Regions and Municipalities, which takes place this Tuesday in Belgium. In 2023, Paris was the largest metropolitan area of the European Union (EU), followed by the cities of Madrid and Barcelona. According to the European statistical office, the French capital has 12.4 million inhabitants, Madrid has 6.9, and Barcelona has a total of 5.8 inhabitants, and Lisbon only appears in 18th position, with a total of 2.89 million inhabitants. In Portugal, the two cities that stand out in the ranking are Lisbon and Porto , with 2.89 million and 1.77 million people, respectively, followed by Coimbra, with 439.9 thousand inhabitants last year. As Eurostat wrote in its report, among the ten largest metropolitan regions, Barcelona, Madrid and Amsterdam recorded the highest relative growth rates, with their populations expanding by 5% . He adds that on the other hand, the region of the Italian capital, Rome, was the only metropolitan region that recorded a remarkable population decline compared to 2018 (-129 thousand) , while Milan will have seen a decrease of 6 thousand inhabitants. Still, the largest population decline was observed in the Norwegian capital of Oslo, which lost 578 inhabitants. Behind is Bergen, also in Norway, with a loss of 349,800 inhabitants. Other topics that may interest you: Despite the positive variation, tourism revenues slow down , Inland municipalities are the cheapest to buy a home and Urban centers without planning: what is the impact on real estate?
Source: Freepik Author: Redaction A cadastral error will force Lisbon City Council to pay compensation of 1.14 million euros due to the illegitimate appropriation of a plot of land , approved by the Lisbon Municipal Assembly. The land in question, measuring 1,297 square metres, is located in Lumiar and was demarcated as municipal property. Due to a cadastral error, a private building that had only been partially expropriated was demarcated as municipal property and which the municipality of Lisbon now fully administers, in the mistaken belief that it has legitimate and sufficient title to the entire area included in the respective polygon, says the Lisbon City Councils response. The case in question dates back to the 1970s , and the plot of land in question was partially expropriated as part of the work to Link Avenida do Marechal Carmona (2nd Circular) to the Lisbon municipality boundary, at Calçada do Carriche by the local authority. Now, signed by the deputy mayor of Lisbon, Filipe Anacoreta Correia, the proposal asks for authorisation to compensate the injured parties, in cash and to the value of 1.14 million euros, for the non-titled appropriation by the municipality , because, as the proposal explains, t he owner of the land requested compensation in kind or in cash 21 years ago , for the illegitimate appropriation of the area of the land, by the municipality of Lisbon and by mere mistake, which in the meantime would have sold part of that area to third parties, for construction . In March 2006, however, the Real Estate Department concluded that the part of the building not covered by the expropriation was only 1,297 m 2 and not 10. 1000 m 2 as claimed by the applicant, due to the lack of correspondence between the area contained in the respective land registry description and reality, adding that the plot of land unduly appropriated by the municipality of Lisbon was, in part, allocated to the public road (Rua Luís de Freitas Branco section) and to the formation of the then designated plots 1742 and 1743, with the current police numbering 34/34E and 36/36C, respectively, of the same artery (Rua Luís de Freitas Branco), which have since been sold to third parties . This cadastral error is justified by legal errors of a registry nature , according to the Real Estate Department, forcing Lisbon City Council to recognise the appropriation of the plot of land to the owner in April 2006 . However, the procedure was only resumed in May 2019, by the legal representative of the undivided inheritance of the original claimant, who in that capacity requested fair compensation for the loss of the plot of land. In this situation, a proposal was made for compensation totalling 1.5 million euros. After the market appraisal requested by the owners heirs, the value set the market value of the plot of land in question at 1.303 million euros, and the Municipal Asset Management Department (DMGP) analysed the claim and in January 2020 i nformed that the compensation amount was 976,000 euros, under the terms of the Expropriation Code . However, in order to negotiate, the DMGP proposed the intermediate compensation amount of 1.14 million euros, obtaining the express consent of the interested parties in 2020, even if it was conditional on the approval of the municipal bodies, as has now happened. Read more: Social Security launches new E-clic digital counter , Commission monitoring PRR has concerns about change of government and House purchase situations above legal limits increase
Source: Freepik Author: Redaction The World Travel Awards, known as the Oscars of Tourism , took place last Wednesday, 6 March, at a ceremony in Berlin that honoured various destinations and cities, and in which Portugal managed to shine with a total of 31 awards. The distinction, which left Portugal in the spotlight at the ceremony, honoured the country in different categories, cementing its place as the destination of choice for international tourists. For the tenth time, Madeira was voted Europes best island destination , while Porto Santo made its debut as the best beach destination. At national level, the cities of Lisbon, Porto and Braga stood out, receiving the awards for best urban destination, best metropolitan seaside destination and best emerging destination, respectively. The Azores was also honoured as the best adventure destination. As for tourist attractions and projects, the Paiva Walkways were honoured as the best adventure tourist attraction, the Mondego Walkways as the best tourist project and Dark Sky Alqueva as the best tourist attraction and best responsible tourism project. Even TAP - Transportes Aéreos Portugueses, picked up awards, taking home two honours: best airline in Europe to South America and best airline in Europe to Africa. About travelling and tourism: Discover the wonders of Portugals most beautiful roads , Best cities in the world in 2024: Lisbon and Porto in the spotlight and Vila Nova de Milfontes: a guide to living in this town
Source: Freepik Author: Redaction During 2023, activity in the national real estate sector was mainly marked by a challenging climate , along with a wait and see strategy on the part of investors. So, according to the Real Estate Market Overview , prepared by Savills Portugal and sent in a statement to SUPERCASA Notícias , discover the main indicators of the national real estate market for 2023. Investment At the end of 2023, Portuguese real estate investment stood at 1.6 billion euros, marking a 50% drop compared to the previous year. This scenario reflects the trajectory observed across the European continent, which has seen a sharp decrease in investment volumes. In 2023, with the exception of the retail and hospitality segments, all the others saw significant drops in investment volumes compared to 2022. Investment in the hospitality sector totaled 571 million euros, demonstrating a clear interest and commitment on the part of investors in this segment. It is important to note that, for the first time, investment in alternative segments exceeded the volume of investment seen in the star and more traditional segments , with investment of more than 100 million euros in student residences located in Lisbon and Porto standing out. In 2023, 79 investment transactions were concluded, 54% of which were signed by national investors, representing 30% of the total volume of real estate investment. Alternative Segments - PBSA (Purpose Built Student Accommodation) This segment has been one of the most dynamic in real estate . In 2023, there was a 3% increase in the number of students compared to the previous year, demonstrating that, despite an uncertain economic context, families continue to prioritize access to higher education, with demand for student accommodation continuing to grow. However, the reality of the PBSA segment in Portugal has been marked by a shortage of student accommodation , which is one of the major challenges facing the government, universities, families and students. The current supply in the cities of Lisbon and Porto is just 3,800 beds, serving only 2% of the total number of students enrolled in higher education in Portugal. There are currently 23 operators in Portugal, offering a total of approximately 9,600 beds. Offices At the end of 2023, the office market in Lisbon had an absorption volume of 112,474 m2, a decrease of 59% compared to 2022 , a trend consistent with other European markets. The year ended with 152 transactions. Prime rents ended the year at €28/m2/month, indicating an increase of 8% compared to 2022. This increase underlines the resilience of all market fundamentals. In addition, the average rent for the Prime CBD zone closed at €23.81/m2/month, reflecting an increase of 9% compared to 2022. Portos office market, on the other hand, had a total take-up volume of 50,048m 2 , reflecting a decrease of 14% compared to 2022. Despite this, the Invicta city maintained a resilient level of activity, recording 64 transactions. Looking to the future, the city of Porto foresees a substantial pipeline over the next two years, covering around 90,000 m 2 . Among the most emblematic projects planned are the Slaughterhouse, VIVA Offices and Mutual. Industry & Logistics In 2023, the Portuguese industrial and logistics market demonstrated robust activity, totaling a take-up of approximately 430,000 m2, with logistics operations accounting for 300,000 m2 of this figure. However, after two years of historic occupancy volumes, 2023 saw a decrease of -16%. In Greater Lisbon, 70% of the Gross Lettable Area (GLA) occupied in 2023 was dedicated to logistics, with 85% of this space exceeding 5,000 m2 and being used by distribution and logistics operators. Meanwhile, in the North & Porto region, the total take-up volume reached 125,111m2, up 4% on 2022, with logistics operations making up 65% of the total volume of closed transactions. With a logistics stock of around 3.3 million m2 in Greater Lisbon, demand for prime assets is becoming increasingly competitive, especially with regard to ESG & Sustainability standards. Retail 2023 proved to be a year of resilience and adaptation for the Portuguese retail market. Despite facing macroeconomic headwinds that impacted private consumption, the retail segment overcame the challenges with innovative approaches. In a context of economic uncertainty and changing consumer behavior, the sectors turnover index contracted by 0.8% over the course of 2023, following growth of 4.7% in the previous year . Portuguese families, who have a greater propensity to save, contributed to the decrease in turnover, reflecting a cautious approach in a context of economic pressure. However, there was room for various retail sectors to prosper, as was the case with food distribution and low-cost non-food retail concepts , which emerged as the most resilient segments, recording growth and defying market downturns. In addition, demand for proximity retail continued on an upward trajectory, highlighting consumers preference for convenience and accessibility. In particular, high street retail saw significant activity, driven by growth in the tourism sector. In cities such as Lisbon and Porto, there was an increase in new high street stores, with a notable presence of brands catering to various sectors, such as catering, fashion and lifestyle. Residential The national residential market has faced significant challenges due to rising construction costs , with a direct impact on the value of properties for customers. The predominant challenge continues to be the cost of labor, largely attributed to its scarcity. At the end of December 2023, construction costs had risen by 1.8% year-on-year. House sales in mainland Portugal, particularly in Greater Lisbon, Greater Porto and the Algarve, fell by approximately 17%, 24% and 25% respectively. The cautious economic scenario also had an impact on the number of dwellings licensed in Greater Lisbon, with a significant drop of 33.6% compared to the previous year. On the other hand, Greater Porto ended 2023 with positive results, showing an increase of 14% compared to 2022. The new Simplex Urbanístico promises to address these issues and simplify licensing processes, but these effects have yet to be felt in the market. As far as the rental market is concerned, Lisbon and Porto have seen price increases and decreases in the number of contracts signed, driven by the rising cost of housing. At the end of 2023, average rental prices peaked in Lisbon and Porto at 19.9 €/m2 and 16.3 €/m2 respectively, reflecting increases of 22.8% and 25.4% respectively. 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Source: JLL Author: Redaction JLLs Residential team and Christies Front Door are co-exclusively marketing Pulse, a new residential building located on Avenidas Novas , between Marquês de Pombal and Campo Pequeno, in Lisbon, as JLL announced in a statement to SUPERCASA Notícias . With 39 residential units spread over 14 floors and with areas between 58 and 272 square metres, youll find 27 flats ranging from 1 to 6-bedroom triplexes, as well as eight townhouses ranging from 2-bedroom duplexes to 3-bedroom triplexes. All the units have parking for up to four people, private terraces with gardens, an outdoor and indoor swimming pool, a sauna, a Turkish bath and a gym. The concierge service is available 24 hours a day, there is a wellness area, another for co-working and a communal courtyard with a garden for leisure time. Pulse Lisboa is calm in the city centre. Its located in a historic area, but its also rich in leisure and catering spaces, which enhances the experience of those who live there. This high quality asset, with modern and sustainable amenities, reinforces the supply of living spaces in the centre of Lisbon, an area where there is greater demand. We have no doubt that it will be a real sales success! said Patrícia Barão, Head of Residential in the note to which SUPERCASA Notícias had access. João Cilia, CEO of Christies Front Door, adds: Pulse Lisboa is undoubtedly a unique project, with a privileged location in the heart of Lisbon and a distinctive quality. These are the projects that motivate us and with which Christies wants to be associated. We will certainly have many satisfied clients with their new home. This building is the result of a partnership between architect Francisco Aires Mateus and Reify, who together brought Pulse Lisboa to life, a unique residential condominium in the city that combines the centrality and spaciousness of its location with new urban lifestyles. A modern cosmopolitan lifestyle also includes a commitment to sustainability. Thats why Pulse has A-level energy certification, with a photovoltaic solar energy system for self-consumption and energy savings , AQUA+ certification - a certificate that confers a high level of efficiency in the management of water consumption - BREEAM certification, car parking spaces prepared for charging electric vehicles and a bicycle park. In SUPERCASA Notícias youll find all the news from the world of property: Delta Building reaches 100% occupancy with the support of JLL , Savills is marketing modern and flexible workspace
Source: Freepik Author: Redaction By June, Lisbon City Council intends to open the first tender for the Cooperative 1st Housing Program , for a plot of land located in the Lumiar area. According to the municipality, this project will be open to all people without a home of their own who form cooperatives and can submit their applications to build permanent housing on land provided by the Lisbon council. The winners of the tender will be responsible for the construction costs and will hold the surface rights for a period of 90 years, which can be renewed. There are currently five projects being prepared in various locations in Lisbon under the program , with the municipality assuming that around 500 homes will be built in an initiative that was approved on February 14 . With great interest on the part of the cooperatives eligible for the tender, there are already, according to the local authoritys housing councillor, several people calling and sending emails asking for information. Applications for this first project in Lumiar will be opened by the end of the first semester , according to the information shared by the councilwoman, Filipa Roseta, and t he project, already licensed by the municipality, includes the construction of 18 houses, to which 22 parking spaces will be added. In total, the work will cost 3.83 million euros, plus VAT. Several plots of land in Lisbon have building potential As Lisbons Housing Councillor, Filipa Roseta, points out, the winning cooperative will be able to start building at the end of this year , adding that this will be a test of the new partnership model , and is one of several programs that the municipality has underway to build affordable housing. [Lisbon has] had dozens of vacant or ruined lots for decades , admits Filipa Roseta, stressing the potential for building 7,000 homes: its huge. We really need to find a model on which there is a minimally stable political consensus, so that together we can put housing and land at the service of the people. People need housing and we want to provide it. Also read: Coimbra wants to attract more technological investment and Lisbon project wants to intervene in empty lots
Source: Freepik Author: Redaction A project is underway for the Marvila Execution Unit in Lisbon , covering around 28 hectares, to eliminate one of the main physical barriers in the area due to the northern railway line . It is currently under public consultation, until March 13, for the purposes of the Environmental Impact Assessment (EIA). According to the proposal submitted, the urban area in which we intend to intervene, in the parishes of Marvila and Beato, is a set of plots of land - urban voids situated between various toponymic names in Eastern Lisbon: Beato (convent), Madredeus (neighborhood), Chelas (urban plan) and Braço de Prata, reads the public consultation document. Thus, this project will include an urban development that includes various allotments, green spaces and equipment, as well as public and private parking spaces. Also located in the same area are some plans and projects that are not related to these developments, nor the initiative or responsibility of the project promoter, but which constitute significant constraints on the way they are implemented , such as the modernization of the North Line and Belt Line railways, which include the current Marvila station and the establishment of the Third Crossing of the Tagus by rail. The project owners include the project promoter, Lisbon City Council (CML) and Infraestruturas de Portugal, S.A. (IP). As they point out: the delimitation of the Marvila Execution Unit, as an instrument for implementing Lisbons Municipal Master Plan (PDM), is justified by the need to ensure the harmonious urban development of this area, covering an area vast enough to constitute a perimeter with characteristics of urban unity and autonomy, where it will be possible to establish, through a joint urban solution, an adequate physical and functional articulation with the pre-existing and surrounding consolidated space. Marvila wants to increase its residential offer and mobility One of the objectives proposed with this project is to densify the territory and increase the residential offer, taking advantage of the large area yet to be consolidated, in an area of the city that concentrates most of Lisbons expectant urban voids. They highlight the primordial rural characteristics and industrial past of the region , in which the housing estates allow for little urban density , in an area where the railway infrastructures still define the territory in question very significantly. And the proposal points out that the two railway lines, the Northern Line and the Belt Line, act in a contradictory way in the territory. If, on the one hand, they are structuring elements of mobility to the national school, on the other, they sever the connection of the local urban fabric, seriously conditioning, as physical and acoustic obstacles to a necessary urban fluidity, the development and inter-connectivity of this area of the city. Thus, there is a commitment to densify the increase in residential supply, with a strong preponderance of affordable housing , as well as a green urban park that can increase the Quinta do Marquês de Marialva Urban Park and connect with Quinta das Pintoras, as is already planned, to cover part of the railway line, establishing the necessary equipment, as well as preserving and requalifying the existing classified heritage. For mobility, the proposal includes complete coverage of the northern railway line, a total of 400 meters in length. SUPERCASA Notícias suggests: Government to go ahead with rehabilitation and construction of schools , New hotel in Caldas da Rainha to go ahead soon or Lisbon: housing prices rise despite end of RNH
Source: Freepik Author: Redaction The real estate consultancy JLL has just released the results of its monthly bullet in dedicated to the performance of the office market , concluding that January was a month of recovery in occupancy in Lisbon , with the reactivation of large-area operations. According to the information they sent to SUPERCASA Notícias in a press release, 6,800 m2 of office space was occupied in the capital in the first month of the year, 72% of which was concentrated in three deals involving the takeover of areas of more than 1,000 m2. In total, these operations amount to 4,800 m2, the largest of which is around 2,400 m2, another 1,400 m2 and another 1,000 m2. It should also be noted that the total monthly volume grew by around 73% compared to the same month last year. Although Januarys take-up was not very robust compared to monthly records in the markets strongest years, it is an indicator of an important upturn in activity. Obviously it has to be seen in the light of a month at the start of the year, which is naturally less strong, but it opens up positive prospects for 2024, not only because of the 70% growth compared to last year, but also because of the return of operations involving large areas, commented Sofia Tavares, Head of Office Leasing at JLL. She adds: The improvement in expectations regarding inflation and interest rates leads us to believe that demand, which has postponed its decisions due to macroeconomic uncertainty, will return to the market more actively. In addition, more spaces are beginning to appear that are suited to the new requirements of companies in terms of adapting to working models, sustainability and modernity. This will also reactivate demand that wasnt finding a response to its needs. In January, 12 operations were completed in Lisbon , with the total area taken up for immediate occupation. The Prime CBD was the most dynamic area, with a 45% share of take-up, while TMT & Utilities companies were the most dynamic, generating 44% of occupancy. In Porto , January was a soft month, with 1,300 m2 of occupancy in a total of 4 transactions. This volume is 59% below January 2023 and was mostly (70%) placed in the CBD Boavista area. Also in Porto, it was the TMT & Utilities companies that proved to be the most dynamic, with 70% of the monthly take-up. Note that all the operations were for immediate occupation. Also read: JLL/Predibisa market new business center in Matosinhos