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Merlin wants to double its portfolio in Portugal
20 March 2019 | Vanessa Sousa

Merlin Properties has a perfectly defined goal for the next four years: to lead the Portuguese office market and double its business in Portugal.

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In Lisbon alone, the Spanish REIT has eight office buildings with a total of 100 thousand sqm. The Torre Zen (Zen Tower), located at the Expo, is one of them. Around 330 million euro were already invested in the Portuguese capital in the office sector. And in the next four years there will be more.

Merlin’s ambition, of which Banco Santander is the main shareholder, goes further. The Spanish giant wants to double the value of its assets in Portugal in the near future. If it currently has an estimated gross value of 1.083 million euro, between 2022 and 2023 the company expects to obtain around 2 billion euro.

In the short term, the company’s goal is to invest in Lisbon, so as to reach 1.500 million euro, according to Spanish newspaper Cinco Días.

In the Iberian Peninsula alone, the company holds more than 12.041 million euro in assets, of which about 9% are located in Lisbon.  

 

 

 

 

Photo: Joaquim Manços