Savills boosts Portuguese presence

Savills has expanded its international presence with the acquisition of Predibisa in Portugal. 

The residential and commercial real estate company has 30 employees, based in two offices in Porto, and is led by Rui Branco. 

The business, which has been providing residential and commercial real estate advice in the north of Portugal for more than 30 years, will rebrand to Savills over the next few weeks.

Both offices will be retained, according to a statement from Savills announcing the deal.

Savills has had a presence in the Portuguese market since 2018 and now employs 120 people in the country, with existing strong teams and offices in Lisbon and Porto. 

The residential market has been one of the main drivers of international investment in the country in recent years, with sales figures already exceeding pre-pandemic levels, Savills said.

James Sparrow, chief executive of Savills UK & EMEA, said: “We have a fantastic business in Portugal and it is a key growth area for us. Porto is the second city and is flourishing both from a commercial and residential perspective. This is a natural next step for us and we are very excited about this acquisition.”

Branco added: “By joining a leading international real estate advisor with exceptional expertise in the residential and commercial sector, we will be able to build on our position in the market.”

João Leite Castro, senior director at Predibisa, added: “Savills gives us access to a vast international network of customers and employees, which will open up additional growth potential, and provide our employees with excellent development opportunities.”