Santa Catarina 1232 office building fully leased
Catarina 1232, located in the centre of Porto, houses three tech multinationals, including two Porto Leading Investors.
An old garage turned into a cutting-edge multifunctional open space, the 6,572 square metre Santa Catarina 1232 building has recently been fully leased.
Located in the centre of Porto, in one of the city's busiest commercial areas, the office had software developer PHC Software as its most recent placement. The company invested €1.4 million in its new 1,000 square metre premises, that include an auditorium prepared for remote collaboration and live streaming, as well as relaxation and games areas.
Located in the centre of Porto, in one of the city's busiest commercial areas, the office had software developer PHC Software as its most recent placement. The company invested €1.4 million in its new 1,000 square metre premises, that include an auditorium prepared for remote collaboration and live streaming, as well as relaxation and games areas.
Catarina 1232's other two tenants are proud Porto Leading Investors that have set up their operations in Porto over the last few years. FinTrU, with an area of 2,819 square metres, has been running its delivery centre from these offices since late 2022, with its focus on developing technological solutions that help investment banks comply with different legal and regulatory obligations around the world. ISS Tech, occupying around 1,039 square metres, recently celebrated its one-year anniversary of "The Place", its Future of Work Innovation Lab in Catarina 1232. The team is currently expanding its tech talent in Porto, expecting this growth to further contribute towards the company's investment in high-quality and scalable digital solutions.
The building's various leasing processes for these companies were carried out by Savills Porto. João Leite Castro, the company's Commercial Director, says: "We are delighted to announce that Santa Catarina 1232 has been fully commercialized by Savills, an exceptional piece of work by the whole team that further strengthens our position in the office market. This office building has unique characteristics, from its incredible location in the heart of the city, to the architectural features that combine modern lines with its industrial past and the interior layout that provides companies and their employees with excellent conditions to develop their projects and also to enjoy moments of leisure.”
These developments further underscore not only Porto's status as a tech hub, but also the city's ability of allowing world-renowned tech businesses to flourish and expand their local operations in flexible multifuncional spaces that can cater to their innovative needs. The office market has been one of the main drivers of the real estate market's overall growth in the city, with a 20% increase in take-up forecast for 2024 and a vacancy rate that has fallen by 35% in recent years, currently standing at 5%.
According to Cushman & Wakefield's 43rd edition of Marketbeat Portugal, there are currently 116,200 square metres of office space under construction in the Greater Porto area.
According to Cushman & Wakefield's 43rd edition of Marketbeat Portugal, there are currently 116,200 square metres of office space under construction in the Greater Porto area.
