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Group KNJ will invest €70M on new projects in Porto
19 November 2019 | Ana Tavares

Macao’s KNJ, owner of 40.5% of Global Media, is preparing to invest around 70 million euro on new projects in Porto. The largest project will be the transformation of the former Jornal de Notícias’ headquarters into a new hotel from group Marriott, which will cost up to 40 million euro.

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Hotel Journal, should be the name of the new 213 room luxury hotel from the Marriott Autograph Collection, located at Gonçalo Cristóvão street. The information was provided by Global Media’s owner, Kevin Ho, to Macau News Agency.

Besides this project, KNJ also intends to build a new luxury residential condominium at the Foz do Douro area. The Torre Miramar will have 16 floors and will be located at number 16 Diogo Botelho street.

There are other unspecified projects on the pipeline for Portugal, which ought to «create 1.500 new jobs within the next 5 years». Kevin Ho also told the Macau News Agency that «it is not just tourism that is growing in Portugal, it is the economy as a whole, it is one of the most innovative hubs in Europe. The country will do even better in the near future». Negócios recalls that last May, during a visit to Porto, Kevin Ho had also shown interest in creating a business hub together with the Associação Comercial de Macau (Macao’s Commerce Association).