The premise on Avenida da Liberdade will have 150 estate agents and represents an investment of 1.3 million euros
"The commitment to this innovative business model, with a clear focus on bringing the brand closer to customers, intends to add more value to the real estate mediation market in Portugal and an improvement in the Engel & Völkers property services by differentiating it positively from all the competition in a sector as demanding and sophisticated as luxury residential and commercial real estate," explains Juan-Galo Macià, CEO of Engel & Völkers for Spain, Portugal and Andorra.
Pedro Branco, the General Director of MC, will lead a team of 165 employees, including 150 estate agents who will carry out their work in a professional environment, and in addition to the Engel & Völkers Academy, offices and meeting rooms, the company will also be offering marketing tools and access to an international network of clients.
"Having identified the needs of the Portuguese market, and having solid experience in business creation and development was undoubtedly a very important step in the brand strategy for the city of Lisbon," says Juan-Galo Macià.
Avenida da Liberdade was Engel & Völkers' first choice for opening the MC in Lisbon. "We wanted a place with a central location to work throughout the city of Lisbon and in an open space, with at least 500 square metres that can accommodate the staff and 150 estate agents," says Juan-Galo Macià. "The lack of big offices in the city centre is a reality and we had to visit a lot of premises until we found one that would meet all the requirements of the brand," he says.
The MC will be complemented by several franchising agencies that will serve the needs of the market in the rest of the country. This means the MC will have an autonomous and dedicated structure for the Lisbon region, which will work very closely with the structure of Spain, where the MC concept has already been successfully implemented.
The MC in Lisbon will be the main office of the brand in the Portuguese capital due to its central location - where staff will be working from together with the rest of the team of estate agents - from agencies located in Parque das Nações and Restelo, thus allowing Engel & Völkers to be closer to its customers.
"The Iberian Peninsula has grown strongly and is becoming a strategic region for Engel & Völkers in the coming years. Lisbon is a fashionable city and the market data prove this. Just last year alone, more than 6 billion euros were transacted in the city of Lisbon," says Juan-Galo Macià. Therefore, "the increase in foreign investment, a greater number of permits granted to construction projects, and the development of the surrounding areas of Lisbon foresee many opportunities that the brand does not want to miss out on," he adds.
The MC is equivalent to 30 standard agencies and will fulfil the needs of the real estate market in Lisbon, covering the luxury segment of the buying and selling residential real estate sector.
"We have a portfolio that already allows us to respond to a very broad group of clients and we will continue to work with the objective of diversifying our portfolio of properties," says Juan-Galo Macià. "For this year, the purpose is to increase our market share in the national territory and to raise the value of the Portuguese market to 10% of the total turnover of the company in the Iberian Peninsula.” It is worth noticing that, in 2018, the sales of properties by Engel & Völkers in Portugal reached 80 million euros, and at global level, the brand achieved 728 million euros in commission turnover.
"In the MC's first few years of development, the main concern will be the implementation of our brand strategy and the team management, but we expect to break the record during the first three years with a consecutive growth of at least 100%", says Juan-Galo Macià.