Siemens is in exclusive negotiations with Square Asset Management to sell its 65,000 m² campus in Alfragide, Lisbon, under a sale-and-leaseback deal, Bloomberg reports. The site, which houses around 2,800 employees across five office buildings plus a cafeteria and medical unit, serves as the company’s Portuguese headquarters and hub for energy, mobility, and IT operations.
Square, Portugal’s largest real estate fund manager with €2.5B in assets, was selected after multiple bids. The sale would allow Siemens—led in Portugal by Sofia Tenreiro—to remain on-site as a tenant while freeing up capital. Neither party has commented on the ongoing talks.
Lisbon has become a magnet for multinational hubs in recent years, with Google and Mercedes-Benz among those expanding in the city.
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