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CGD sells building in Lisbon for €60M
06 May 2019 | Ana Tavares

Caixa Geral de Depósitos (CGD) achieved a 50 million euro added value with the sale of its block at Ouro street, in Lisbon’s downtown, for 60 million euro, to Sana group.

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The information is part of the statement of accounts published this week on CMVM’s website, where it can be read that «in March 2019 a building belonging to CGD located at Rua do Ouro street, was sold generating an added value of 50 million euro».

According to Portuguese Dinheiro Vivo, this 13.810 sqm building was sold to hotel group Sana for 60 million euro, after one year of negotiations, revealed administrator Paulo Macedo in a press conference. It had a positive impact of 36 million euro over CGD’s net profit during the year’s first quarter.

The same hotel group had already bought another block last year, located on the same street, from Millennium bcp, with 8.850 sqm, for an amount estimated between 40 and 50 million euro, based on the market’s prices.