Italian real estate services firm Dils has entered the Portuguese market with the acquisition of Castelhana.
Founded in 1999, Castelhana is an independent group with 25 years of experience in real estate services, particularly known for its focus on premium residential new developments.
The business is a key market player in new developments in Lisbon and employs more than 80 professionals operating across the country with offices in Lisbon, Porto, and the Algarve.
The deal follows Dils recent expansion into the Netherlands, in February 2023, with a deal for Van Gool Elburg.
Dils has a significant investment plan for Portugal aimed at accelerating growth and bringing innovation to the residential sector while expanding into commercial real estate services (offices, retail, logistics, hospitality, etc.), leveraging on a hiring strategy focused on attracting the best professionals in the country.
The agreement with Castelhana allows Dils to export its unique business model to Portugal. This includes Dils' in-house transformation team which numbers 60 professionals specialised in technology, marketing and digital, graphic design, 3D programmes and research.
The Portuguese real estate market presents interesting growth opportunities within Europe. According to Dils’ team research, since 2019 there has been an average of 160,000 residential transactions annually, with a turnover of around €30 bn per year.
The residential markets of Lisbon and Porto are among the most dynamic in Europe, undergoing one of the best growth trends in values.
Portugal is also a market with great potential for major commercial asset classes, with nearly €3 bn in annual investment volume in recent years, and it is generating increasing interest from institutional investors. Hospitality is also in growth mode.
