Previous Next
MVGM debuts in Portugal with the acquisition of JLL’s RE management business
04 December 2019 | Susana Correia

Real estate management company MVGM debuted in the Portuguese market, and it’s here to stay. The growth plans are ambitious, and they include conquering a market share and, of course increasing exponentially the returns from the Property Management business recently acquired from JLL, which will include a strong bet on the housing market.

Foto

Miguel Kreiseler, who moved from JLL where he led the now extinct Property Management Department, to take over the position of managing director of the Dutch company in Portugal, leading a team of 37 experts which is currently in charge of managing a 75 asset portfolio with more than 850.000 sqm and a 1.100 million euro estimated market value. Of these, around 55% are offices, 45% retail and the remaining 5% housing assets and hotels.

Leader in property management in Holland, in July MVGM announced the purchase of JLL’s real estate management business in Europe, thus giving a significant boost to its international expansion strategy. The operation integrated the real estate management teams’ activities, which until now were integrated within JLL in Portugal, Spain, Poland, Holland, Germany, Romania, Slovakia, Czech Republic, Belgium and Luxembourg. In this way, MVGM reaches the end of 2019 as one of the five bigger European players in this sector, with an active presence in 10 countries.

«We always set very long-term prospects to our investments. And, because of that, MGVM is here in Portugal to stay», MVGM International’s director, Walter Sas told the journalists during a meeting that took place this Thursday in Lisbon to present this new player on the Portuguese real estate market.

Miguel Kreiseler presented the general outlines of the strategy for our country, revealing that one of the new shareholder’s goals is to «treble the current revenues». Something that, he added, should be accomplished by reinforcing the housing market activity. «The property management activity is very developed in Portugal within segments such as retail and offices, where we can find renowned international names. But it is our understanding, that besides these segments, there is significant opportunity for growth within the housing segment».

Remarking that «the real estate management business is mainly a scale business», and that that is one of the paths MVGM wants to tread within the Portuguese housing segment, «bringing some of the good practices which are already in place in other international markets, such as the Dutch market». In order to maximize results, the plan is also «to work increasingly closer with developers and investors from the projects’ initial stages».

In terms of the connection to JLL, from where most of the current team in Portugal came from, MGVM will keep working closely with the real estate consultant, but now as a preferred partner.