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PLMJ partner Tiago Mendonça de Castro headed the team that advised on the creation of the new “Time Out Market” in Porto

10/10/2016
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PLMJ advised on the negotiation of the contract to set up the new “Time Out Market Porto”, which will be located at São Bento railway station and is expected to open in 2017.

The PLMJ team that handled this transaction was led by Tiago Mendonça de Castro, the partner who heads PLMJ Real Estate and Construction, and included senior associate Sofia Coutinho, associates and Diogo Belard Correia and Francisco Rebello de Andrade, all from PLMJ Real Estate and Construction.

For Tiago Mendonça de Castro, “the investment operation that has now been signed was, in some respects, very complex because of the unique and innovative characteristics of the project itself. This made it very interesting for the whole of the PLMJ team that was involved in the project and in shaping the best solutions to set it up. We believe this new food market will follow the same model already implemented with the “Time out Market Lisboa" at Mercado da Ribeira. It will operate not only as a space for excellent regional cuisine, but also as an important hub for urban development that will contribute to promoting tourism in Porto and, in the medium term, to the urban rehabilitation of the area surrounding it, as indeed happened in Lisbon”.

It is expected that the new “Time Out Market Porto” will have around 15 new restaurants, four bars, four stores and one art gallery, in a total area of around 2200 m². Following Porto, new “Time Out Markets” are to be opened in London, New York and Miami. All of them will be inspired by the success story of the Lisbon project, which PLMJ also advised on.

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