2017 was once again a great year. CBRE’s real estate deals exceeded 500,000 square metres.
CBRE Portugal’s results grew by 22% in 2017. For the third year running the property consultant exceeded its clients’ expectations with deals totalling 500,000 square metres, equivalent to approximately 50 football stadiums. Some of the key moments in 2017 were decisive for CBRE and are going to consolidate the company’s presence in Portugal. Among them, it is important to highlight the opening of an office in Porto, the setting up of a new line of business – Capital Advisors, which aims to support clients that are seeking joint ventures, structuring loans aims to advise clients on the acquisition and disposal of secured non-performing loans portfolios, which have properties as guarantees, as well the strengthening of the hotel team, placing special emphasis on transactions.
Francisco Horta e Costa, Managing Director of CBRE Portugal believes 2017 “was a particularly positive year, not only in terms of results, but also in terms of the solutions presented to clients by a team of 150 highly qualified professionals. CBRE is increasingly selling integrated solutions to its clients, which follow the property product life-cycle in its entirety and the results speak for themselves.”
Investment and Development Reaches 600 Million Euros
CBRE’s Investment and Development line of business grew by 10% in 2017, with business totalling 600 million Euros. The work covered 115 properties, a total area of approximately 300,000 square metres. The top transactions among the deals were the sale of the portfolio of the insurance company Tranquilidade, which consisted of 84 properties, that of Silcoge, which consist of 13 buildings and the sale of four buildings for Caixa Geral de Depósitos – one residential and three office buildings.
Technology and Legal Services Take the Lead in the Office Sector
In 2017, the most dynamic areas in the office sector were Technology, Media and Telecommunications & Utilities (21%) and Consulting and Legal services (17%). CBRE retained its leadership in this market, having negotiated the placing of 30,000 sq m of offices. In regard to deals, it is important to highlight the leasing of offices to a technology company in Lagoas Park (6,000 sq m), to a banking firm in Torre Oriente Colombo (5,700 sq m) and to a pharmaceutical company also in Lagoas Park (4,000 sq m).
Industrial and Logisitics Business Line Becomes Market Leader
The Industrial and Logistics business line grew by 20%, in 2017, which places CBRE as the leader in this market sector. That growth is due, above all, to the sale of a warehouse (5,100 sq m) in Carnaxide, to the leasing of a warehouse (6,500 sq m) in Aveiro and to the leasing of a warehouse (14,000 sq m) in Azambuja. Overall in 2017, 20 deals were completed, covering 65,000 sq m of warehouses, industrial facilities and land.
Retail Business Line Grows By 76%
Last year the Retail business line grew by 76%, and transacted 25,000 sq m more than in 2016. Business covered a total of 64,000 sq m, in the Retail Parks (8,000 sq m), High Street Retail (26,500 sq m) and Shopping Centres (29,500 sq m) sectors. The leading deals were the sale of the location where Grupo José de Mello Saúde will build the Sintra Hospital, the sales of the premises to Brimogal in Aveiro for the opening of a Leroy Merlin store, and the placing of a number of well-known brands such as Sportzone, Fnac, Mc Donald’s and Fitness Hut in the Nosso and Alameda shopping centres.
Valuations Maintains its Leadership Status
In 2017, CBRE’s Valuations business line was able to maintain its leading position, valuations totaled 200 million square metres, a value of more than 10 billion Euros, that covered 30,000 properties.
Asset Services Reached a Historic 1.15 Million Square Metres
In 2016, the Asset Services business line registered 100% growth. In 2017, it achieved new heights, this time it grew 30%, thereby setting a new record: the management of 1.15 million square metres distributed across 71 assets. Last year 25 new asset came under management, most notably the portfolio of the Explorer I property fund – which includes the Liberty building in Avenida Fontes Pereira de Melo –, the Álvaro Pais and Santa Maria buildings and Sintra Business Park.
Building Consultancy Up 160%
The Architecture and Project Management business line set a new record in 2017, growth registered at around 60%. Last year 46 Project Management, Design, Supervision and Due Diligence contracts were signed, a total value of 33 million Euros, covering around 450,000 square metres of retail and office space. Notable highlights are the Design and Project Management for the communal areas of the Alma, Nosso and Alameda shopping centres for Deutsche
Asset Management and the new headquarters for Uría Menéndez-Proença de Carvalho in Marquês de Pombal, Lisbon.
Global Workplace Solutions (GWS) Manages 36 Facilities
In 2017, CBRE’s GWS business line managed 36 facilities that had 3,000 occupants and a total area of 56,000 sq m, most of which are in the IT field. The Top 3 are three new offices under management: Syngenta, DXC (formerly HP) and Hostelworld, plus an international IT firm that chose Porto for its headquarters in Portugal and also chose CBRE as its advisor.
Neoturis Signs Six New Large-Scale Projects
In 2017, Neoturis, a CBRE Group company, undertook over 30 projects for clients and investors, the most notable six of the new projects were for: Turismo de Lisboa, Associação de Promoção da Madeira, Vilamoura World, BCP, Discovery and FOSUN. In 2018, the company expects to close deals that began in 2017, as well as, experience an increase in the number of international clients that are seeking its consultancy services in Portugal.