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Asian investors buy Chemina building to create a new hotel
17 February 2020 | Ana Tavares

The building of the former Chemina factory, in Alenquer, was sold this week in a public auction for 1.1 million euro to real estate company Sunshine Life – Investimento Imobiliário Unipessoal Lda owned by an Asian developer.

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The new owner is expected to turn this building into a hotel unit with spa and aparthotel, besides an auditorium to be periodically used by the Alenquer municipality, maintaining the façade’s architectural design. Construction works have a 3 and a half years deadline to start.

According to Lusa news agency, the public auction was launched in November 2019, and it only received the winning bid, which will now have to present the project for the construction works, mandatory for the signing of the final sale’s contract.

Alenquer’s councilman Pedro Folgado explained that «we consider that the construction of an hotel meets the city’s and the municipality’s needs, since, despite the last few years having seen the appearance of increasingly more local housing units, the offer is still clearly not sufficient, both to meet the tourism demand, which we see as a strategic and structural investment, and to increase the municipality’s economic dynamism, which will have a greater capacity to receive and keep those who visit us».