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News Release


JLL celebrates 20 years of business in Portugal

The consultancy now has 360º real estate services for all sectors.

​This year, JLL marks two decades of business in our country, during which time it has become market leader in the Portuguese real estate market and has decisively contributed to the professionalisation of the sector.

Founded in 1997 under the trading name of Laese de Centros Comerciais, the company operated solely in the shopping centre industry, offering commercialisation, management and consultancy services. Manuel Puig, one of only two team members at that time, would later become JLL’s general director from 2004 to 2011. Ten years later, and under its current trading name (after Laese was bought by British company Jones Lang Wooton & Sons - JLW in 1998, who then merged with American La Salle Partners in 1999, giving rise to Jones Lang LaSalle), the company employed over 40 staff and had also expanded its business into the office sector, agency services, investment, property management, corporate solutions, valuations, architecture and construction, and even research.

JLL is currently experiencing one of its best times ever, with an annual growth of over 30% in the last two years, excelling in its unique ability to offer a 360° service in the Portuguese real estate sector, spanning all market sectors (housing, offices, retail and hotels) at all stages of the real estate cycle. During this time, the consultancy expanded its service portfolio and achieved organic growth, but also with the acquisition of two market leaders within their fields of activity: Novo Interior, to strengthen its architectural and construction arm, Tétris, and Cobertura, a benchmark in the commercialisation of premium property. Today, JLL operates ten lines of business backed by a team of 200+ professionals: agency services, investment, corporate solutions, urban development, strategic consultancy and research, valuations, property management, project management, as well as interior design and construction.

‘This growth capitalises on favourable market conditions, but above all, is the result of a steady long-term strategy which, has also included business reorganisation. Our ability to predict, plan and adapt to the market always been in our DNA and has earned the company greater confidence worldwide’ observes Pedro Lancastre, who has led the consultancy in Portugal since 2011. ‘But more importantly, it has earned us renewed trust both from the market and the industry, which has been evident in our 20-year journey. We have contributed not only to the professionalisation of this sector, but also to market revolution, having participated in highly significant transformations such as the maturation of the shopping centre industry, the rise of high street shopping and, more recently, urban renewal and the internationalisation of the Portuguese real estate sector. In these 20 years we have been involved in the main investment deals and in the development, commercialisation and management of a significant collection of properties, and we have frequently provided various levels of service for the same asset.’

JLL has overseen investment transactions such as the sale of Atrium Saldanha, the Forum Madeira or the Arquiparque, and more recently, the NOS headquarters and Entreposto building, as well as the EDP office portfolio in Marques do Pombal. The company also stands out in the retail sector, with the commercialisation of shopping centres such as MAR Shopping Algarve, MAR Shopping Matosinhos, Alegro Alfragide, Alegro Setúbal, Palacio do Gelo Shopping and Glicínias; the placement of leading brands on the high street, including Versace, Armani Exchange, Pinko, Stivali, Zara Home, Pull & Bear and Adidas. Its vast experience in the office sector includes the placement of company headquarters for Barclays, Deutsche Bank, Volvo, SAP, Sony, Unit 4, BNP Paribas, Microsoft, Fujitsu, Allianz, Regus, Cisco, Bankinter, Natixus, EY, Accenture, Úria Menéndez – Proença de Carvalho.

In more recent business areas, residential has been a major market driving force and the company has more than 3000 units for sale or lease, in an extensive property portfolio that includes emblematic projects such as Aliados 107, Orpheu XI, Villa Garcia, The Lumiares, The Boulevard, Troia Resort, Amoreiras Vista, Ribeira 11, Vila Montrose e República 37. JLL has also proven to be highly dynamic in the Hotels & Hospitality sector, actively accompanying investors and hotel chains seeking opportunities and service provision.

Headlining the portfolio of assets supported are the Conrad Palácio de Quinta, Pine Cliffs Resort, the InterContinental Porto and Penha Longa, in Sintra; other players in the sector that have consulted JLL in relation to their investment/disinvestment plans include Fidelidade, Explorer and ECS. The consultancy’s Urban Development area has participated in range of building and land transactions in central Lisbon and Porto – including the Diário de Noticias headquarters – a business line that creates considerable synergy with the Project Management business, which currently handles over 15 real estate developments, including the noteworthy, República 37 and Rua Misericórdia 137.

Equally as active, and playing a significant role both in the remodelling of high street commerce or the implementation of the most modern working criteria, Tétris has completed projects in stores such as Fendi Casa, Prada, Bulgari, Versace, Rosa & Teixeira, Cartier, Burberry, Furla, Montblanc or very recently, JncQUOI; this, as well as offices for GS1 Portugal, EY, Accenture, Vlvo, SAP, Regus, Bankinter and Nestlé. Moreover, in non-transactional areas, JLL has also followed the development life-cycle of the market’s major projects. Highlights in the Property Management area are W Shopping, Forum Barreiro, Saldanha Residence, Campera, Lago Discount, Ferrara Plaza, Trindade Domus, the Banif retail parks portfolio, and buildings including Pórtico, Entreposto, Torre Ocidente, Marquês Office Square, Palácio Sottomayor, NOS, Meridiano, Heron Castilho and 50 Office. Also worth of mention is the Valuations area, its track record including asset valuations like the Campus de Justiça, the CGD headquarters, Dolce Vita Tejo and the Sierra Fund shopping centres that belong to Sonae Sierra with properties in Portugal and Spain; as is Strategic Consultancy, that supports companies like Sonae, Greenbay or Millennium BCP with its strategic real estate decisions.

JLL celebrated its 20th anniversary in Portugal along with over 500 guests including clients, journalists, partners and employees, for an event at KAIS on 8 June. The anniversary was further earmarked by the creation of the song “Hey You, 20 years of JLL in Portugal”, the company hymn sang by a gathering of employees from all over the country, and which is already available online.

Regarding the future, Pedro Lancastre points out: ‘the market is in exceptional times, particularly in relation to the increased international attention in Portugal, as a commercial investment opportunity, tourist destination, or for living and working. The country has all of the conditions to capitalise on this position, and JLL wants to contribute to this. It's a path that has never been taken and on which we want to support our clients and help fulfil their ambitions, remaining committed to this model of integrated solutions for all market segments. Our strategy is to consolidate the business areas we've created in recent years and to win more business, whether in non-transactional areas or in the investment or occupational business. The market is in great shape and so is JLL, which will motivate us for the next 20 years,’ he concludes.