This project is the largest investment in logistics in a decade in Portugal
In a communiqué, the company says that works will begin in January and the logistics centre should be up and running in November 2024, with 400 jobs expected to be created.
This project is the largest investment in logistics in a decade in Portugal and represents the entry of Montepino in Portugal in its first investment foray outside Spain. The company is managed by the Valfondo Group, one of the major logistics owners in Spain.
The plots of land, located just under 40km away from Lisbon, were bought by Valfondo and Bankinter in October for €150 million. The plots had belonged to Novo Banco.
The parcels of land have an area of 414,000m2 and is next to the North Lisbon logistics platform. The logistics centre that is to be built for Leroy Merlin will cover an area of 105,500 square metres.
Source: Essential Business