Castro Group consolidates its position in the Real Estate Investment business

After 16 years as a group holding the reference company in the natural stone sector in Portugal, in June Castro Group sold the entire capital of Mercado da Pedra. Even though times are pandemic, the group continues to emphasize its core activity, taking the strategic decision to sell the company Mercado da Pedra and move the capital to finance the latest investment in real estate.

The company Mercado da Pedra started its activity in 2004, establishing in 2012 a partnership with the Italian giant Antolini. Headquartered in Braga, it has a vast collection of exotic stones and a strong presence in the luxury segment, both nationally and internationally.

Paulo Castro, CEO of Castro Group, states that: “This financial arrangement will leverage some of the ongoing real estate projects”. Regarding the negotiations, he mentions that “they started in 2019 in parallel with the representatives of the three interested parties (two nationals and another Spanish) ”.

However, António Longarito, Lda’s proposal, whose project is based on the continuity of the current strategy and maintenance of jobs, turned out to be the chosen proposal.

Check the full article “Castro Group reinforces investment in real estate investment” here.

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