VGP acquires new land for development of a new business park in Sintra (Portugal)
Porto, Portugal, January 25, 2021 – VGP, a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate, announces the acquisition of a new land plot in Sintra, Portugal. Construction of the new park will start in Q3, 2021.
The new VGP Park Sintra is located at São Pedro de Penaferrim, Mem Martins, at the crossroads of the A16 and A37 motorways, which serve as a very important connection to the city of Lisbon, the airport, and the seaport. Connection to the A37 and A16 motorways is less than one km away, the A16 being the external motorway of the city of Sintra with connection to the A9 – CREL External City Lisbon Highway – and all major cities to the north of the Tagus river in the Lisbon Metropolitan Area. In addition, the park offers good connectivity to the cities’ public transport facilities and a large work force pool – the city of Sintra itself has a total of circa 380,000 inhabitants.
On a land plot of over 27,000 m2, VGP Park Sintra will offer as of Q1-Q2 2022 a lettable area of up to 13,000 m2, ideal for logistics, light industrial and last mile activities. The building will meet the requirements for energy-efficient and sustainable construction and will aim a BREEAM Very Good certification.
José Ferreira, Country Manager of VGP Portugal, says: "We are delighted that we are developing our first park here in Sintra and, thus, can contribute to economic development in the region. Sintra is the second biggest city of Portugal in population and we believe the park will become a success. VGP is offering to our future tenants the full potential of a modern logistics warehouse."
The VGP Group currently operates in twelve European countries with a total of 77 parks. In Portugal, VGP Park Sintra is VGP’s second business park. In 2019, the Group expanded to Portugal and launched its first park VGP Park Santa Maria da Feira, construction of which will start in March 2021.
Sustainability and energy efficiency are key parameters for the commercial properties developed by VGP. The company has launched and implemented numerous initiatives in recent months. These include the launch of VGP Renewable Energy, a new separate business unit wholly owned by VGP N.V., to use the available roof space on VGP parks for photovoltaic systems and modern energy technologies. The company aims to certify all newly constructed buildings with the BREEAM (Building Research Establishment Environmental Assessment Method) certification. In 2019, the VGP Foundation was also established.
