Greater Porto gains 51 thousand m² of new offices in 2024 and already has 70% of the supply occupied

Greater Porto will gain 51 thousand square meters of new offices this year, says Sofia Pires, Dils responsible for the Commercial Real Estate area at Invicta. And “70% of this new offer has already been taken”he emphasizes. Despite the success of the hybrid work model, “companies have demonstrated that they want employees to return” to the office. Sofia Pires notices “this trend” in companies, which she justifies by the importance of “promoting collaboration, creativity and the organization’s culture”.

Prosecutors are attentive to this movement and, By 2028, 130 thousand square meters of offices should reach the Greater Porto market. A Quest Capital and Tikehau Capital are investing 70 million euros to transform the old La Vie shopping mall (next to Rua de Santa Catarina, in Porto) into a space that combines offices and retail, under the name HOP – Heart of Porto. O Castro Group is completing the conversion of an old industrial unit in Leça do Balio into an office, commerce and services center. It’s called Spark Matosinhos and cost 35 million euros. Sofia Pires also remembers the projects of Avenueyes Sonae Sierra and the Ferreira Groupand the rehabilitation of the old Slaughterhouse by Mota-Engilall three in the city of Porto, and the expected expansion of Lyonnaisein Leça.

These future offices have in common a new vision of the workspace and product sustainability. “These are buildings that allow us to attract and retain talent”, highlights the head of real estate consultancy Dils. They focus on good locations, easily accessible by public and private transport, with a range of amenities and services. ESG (environmental, social and governance) standards and green certifications, such as BREEAM, LEED and WELL, are also assured.

Last year, investment in commercial real estate in the country reached 2.8 billion eurosa growth of 10% compared to 2024. According to Sofia Pires, international investors were responsible for 60% of this volume. The main focus was on the office and retail segments. The North region raised more than a billion euros of this investment and Greater Porto guaranteed almost 900 million.