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Canadians buy Alfragide business center for 5 million to turn it into a hotel – Real Estate

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Canadians buy Alfragide business center for 5 million to turn it into a hotel - Real Estate

Loan and real estate manager Altamira has announced the completion of the sale of the Centro Empresarial de Alfragide, an asset of three buildings, for over € 5 million.

In a statement, the manager reveals that he sold the asset to Grupo Mercan, which is headquartered in Canada and has been present in the Portuguese market since 2015. The Canadian company has announced several investments in the Portuguese market. The most recent, released in May, involves a construction investment of € 21 million. new hotel in Évora, in partnership with RA Group. In total, the company has 13 projects in Portugal, in Porto, Gaia, Matosinhos and Amarante.

The Alfragide Business Center, consisting of two office buildings with a total area of ​​3,727 square meters and a warehouse with an area of ​​1,188 square meters, is located on a land area of ​​over 6,800 square meters. The Canadians have plans to develop a hotel project in the area, which will be the first in the Lisbon area, according to Altamira. “For this asset, the transformation process for new buildings has already begun and will be intensified with this sale,” says João Ribeiro, Real Estate Director of Altamira Portugal. The official emphasizes that this investment demonstrates that “the development of hotel projects continues to be a trend in the real estate sector, and this project will certainly contribute to the development of the western corridor.”

“This is our first project in Lisbon. It reinforces our commitment to the tourism sector and the positive impact we want to have on the country’s economy, adding to other hotel projects that we are developing and which will have a corresponding weight in the creation. employment both in the development and construction stages, as well as in the future management of the hotel, which will be long-term, ”says Jordi Vilanova, vice president of Grupo Mercan.

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The Mercan group also began construction in May of the Renaissance Park Hotel, a brand in the Marriott universe, on land near the Lapa Church in Porto. These investments amount to 56 million euros for the construction of a hotel with 163 rooms and 140 jobs in the city.

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Economy

ERSE bans the cost of the Iberian contract mechanism from being included in electricity bills until April 26 – ECO

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ERSE bans the cost of the Iberian contract mechanism from being included in electricity bills until April 26 - ECO





ERSE bans the cost of the Iberian contract mechanism from being included in electricity bills until April 26 – ECO































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Economy

Kazakhstan is preparing to supply oil to Azerbaijan instead of Russia – Oil

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Kazakhstan is preparing to supply oil to Azerbaijan instead of Russia - Oil

In the international oil market, a new adjustment of black gold routes may occur. Kazakhstan is preparing to export its oil via Azerbaijan’s largest oil pipeline to circumvent Russia’s threat to close the Black Sea port of Novorossiysk.

After a Russian court threatened to cut off an oil route through which Kazakhstan exports black gold to the world, Astana is preparing to ship its oil from Azerbaijan’s largest oil pipeline as early as September, sources close to the case say, citing Reuters.

For about two decades, Kazakh oil, which accounts for 1% of the world’s oil reserves, was transported through the CPC (Caspian Pipeline Consortium) pipeline, which was sent to the Russian port of Novorossiysk on the Black Sea, from where the oil was shipped. the rest of the world.

However, in July a Russian court threatened to shut down the CPC pipeline to Kazakhstan, prompting the Astana government and foreign companies operating in the country’s oil sector to reach out to other possible partners to ensure that if Russia ceases to act as a bridge between Kazakhstan’s oil and the world There may be other transportation options.

Thus, one of the sources assured Reuters that the Kazakh oil company Kazmunaigas (KMG) is negotiating with the Azerbaijani side to export 1.5 million tons of oil per year through the Azerbaijani pipeline, which transports raw materials to the port of Ceyhan. , Turkey. The contract is to be signed in August, and oil on this route is to start in September.

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However, these agreements may not be enough to ensure that the world receives the same number of barrels of oil from Kazakhstan as before Russia’s possible production cuts.

According to the British agency, this partnership will bring 30,000 barrels of oil per day to countries buying Kazakh oil, which is very small compared to the 1.4 million barrels per day currently transported by CPC.

In addition, two other sources report that Astana is in talks to have another 3.5 million tons of crude oil annually exported via another pipeline to the port of Supsa in the Black Sea region from Georgia starting next year. In a Reuters report, KMG representatives declined to comment on the issue.

Kazakhstan can make a difference in the uncertain future

By seeking to sign these agreements, Kazakhstan can not only ensure its own economic viability, but also ensure that the imbalance between supply and demand for oil on the international market does not worsen.

Oil consumption is expected to rise to 2.1 million barrels a day this year, up 300,000 barrels from the previous forecast, according to International Energy Agency data released this Thursday.

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Economy

Caixa Geral de Depósitos may close 23 branches this month – Executive Digest

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The union of workers of the CGD group companies, STEC, has published information received from the administration of Caixa Geral de Depósitos (CGD), announcing that the bank intends to further cut costs and close 23 more branches during August, with more frequency in the Lisbon and Porto areas .

The union warns that with this closure there will be an “inevitable congestion” of other branches in these areas, pointing out that even now they are having difficulty responding to services and recalling that from 2012 to 2022 they left CGD more than 3,300 workers and 300 branches were closed in Portugal.

STEC points to the government’s statement that it “cannot abdicate its responsibility for territorial integrity” and that “it is essential that the state defines the strategic direction that the bank must take, namely its responsibilities in terms of the public interest “. … and the needs of the population, guaranteeing them a service of proximity and quality.”

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