Bouygues Immobilier sells three property projects in Portugal to Pramerica Real Estate for €70 million - 29 April 2008

Bouygues Immobilier has signed a €70 million deal to sell three property projects in Portugal to Pramerica Real Estate. The three projects are: Portimao Retail Center in Algarve and two office buildings in the heart of the Park of Nations district in Lisbon.

Designed by UK architects Broadway Malyan, Portimao Retail Center is a project jointly developed by Bouygues Immobilier and Lanca SGPS. The 12,000-sq.-metre retail park is close to Portimão city centre with easy access to the main roads. It will welcome leading names such as Casa, Casa das Prendras and the supermarket Minipreço, which is part of the Carrefour group. Completion is scheduled for first-quarter 2009.

The Espace and Explorer office buildings were designed by Portuguese firm Sua Kay Architects. With surface areas of 10,000 sq. metres and 5,000 sq. metres, respectively, both buildings satisfy international standards. Delivery is scheduled for second-half 2010. The buildings were designed to apply the principles of sustainable development. They feature innovative high insulation glazing, solar hot water panels and a system to control the intensity of lighting, for enhanced energy performance.