French bank BNP Paribas bought two office buildings in Lisbon in the Parque das Nações area as part of strengthening its operations in Portugal, the bank said in a statement on Tuesday.
BNP Paribas acquired the Aura and Echo buildings, which cover an area of 37,000 square meters, to install its new headquarters in Lisbon. The buildings were purchased from Avenue and an investment fund managed by Aermont Capital. The acquisition value of the properties was not disclosed.
The new buildings will concentrate most of BNP Paribas’ operations in Portugal, which will operate not only in Lisbon but also in Porto. In total, the French bank has 7,100 employees in Portugal.
“The move to the first building is expected to take place in the first half of 2024, and the second move will take place next year,” BNP Paribas said in a statement.