International companies continued to settle in Porto during the most critical period of the pandemic

Several international companies leased offices in the city of Porto during the state of emergency. This performance was achieved "exclusively" by foreign capital, informs the CBRE consultancy, which alone carried out the lease of 7,500 m2.

Foreign investment in Porto did not stop during the most critical period of the Covid-19 pandemic. According to CBRE, this performance was achieved "exclusively" by international companies, "which confirms the attractiveness of Portugal as a country and the Porto region in particular", says the consultant, cited by the newspaper Construir, specialized in business of the construction industry.

The senior director of A&T Offices CBRE Portugal, André Vaz de Almada, adds that "the Porto market continues to show positive signs, even in the context of a pandemic". Statement that corroborates the conclusions of a recent study by the Municipality of Porto, prepared through the InvestPorto investment attraction office, in which the impact of the pandemic on the fabric of strategic companies in the city was evaluated.

Among the main conclusions, it was demonstrated that foreign investment maintains a positive trend and expects to reinforce activity in Porto.

Despite the strong impact of Covid-19 on the local economy, most strategic companies for the economic development of Porto face the future in a positive way and maintain the intention to continue to recruit new employees. One in three investors anticipate expanding their presence in the city, with the ICT sector and foreign investors leading the way in new investment intentions.

Foreign capital also shows no signs of shrinking, as two out of three foreign investors anticipate increasing the pace of new investments in Porto and no large or medium-sized company expects to cut investments in the city.

During the state of emergency, large companies, the technology sector and international investors already in place recorded more slight losses.

The lease of 7,500 m2 of offices, carried out by only one consultant, between the cities of Porto, Matosinhos and Maia, is another clear sign that the effects of the pandemic have not affected the plans of international companies.

On the other hand, these transactions also certify the trends foreseen by CBRE earlier this year, which indicated the demand by international companies for office space in the city Invicta, "with the purpose of installing their areas of research and development (R&D), companies in the technological sector, both national and foreign ", points out the newspaper Construir.

According to the trends presented in January by the consultant, the downtown Porto area was considered one of the most attractive, associated with a vast offer of convenience and leisure, less conventional spaces and a good Metro network.

The choice of locations with these characteristics is also related to the companies' desire to attract and retain talent, adapting the work spaces to the profile of their employees, improving the daily experience.