“TEIXEIRA DUARTE, S.A.” and “CSCEC – China Construction Portugal, SA” – a Portuguese company integrated in the Group led by the “China State Construction Engineering Corporation” – formalized a partnership for the development of a real estate project in Oeiras, Portugal, which is officialized through a contract for the sale of shares corresponding to 50% of the capital stock of a subsidiary of the Teixeira Duarte Group, that held, for long time, the land where the project will be implemented. The indicated disposal of shares for the aforementioned “CSCEC – China Construction Portugal, S.A.”, reported to the market on july 23rd, was made for the amount of 31.1 million euros, and has an estimated impact on the results of “Teixeira Duarte, S.A.” of about 22.2 million euros.
The project will be made up of several office buildings, housing and commerce, integrated in a large green park, in a model that is intended to be a reference for life balance, innovation and sustainability.