Bouygues Immobilier sells 3 Portuguese projects for EUR 70m

French construction group Bouygues Immobilier said on Tuesday it has sold three commercial real estate projects in Portugal to Pramerica Real Estate for EUR 70mln. The developments consist of the Portimao retail center in Algarve and two office buildings located in the centre of Lisbon’s Parc des Nations. Designed by the UK architectural firm Broadway Malyan, the Portimao retail centre is jointly being developed by Bouygues Immobilier and Lanca SGPS and will offer some 12,000 m[sup]2[/sup] of space on completion in the first quarter of 2009. The Espace and Explorer office properties were designed by Portuguese architectural firm Sua Kay Architects and will provide 10,000 m[sup]2[/sup] and 5,000 m[sup]2[/sup] respectively. Completion for the projects is expected for the second half of 2010.

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