AXA buys 74% of new office tower in Colombo

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The future North Tower will add up to 35,000 square meters (m2), in an investment of 118 million euros.

The French insurer AXA Investment Managers will acquire 74% of Sonae Sierra ‘s stake in the new office tower that is being built next to the Colombo Shopping Center. The transaction will close next May.

The announcement was made by Fernando Guedes de Oliveira, CEO of the Portuguese group’s real estate arm, at a meeting with journalists in Maia last week, where he explained that the company is in a “new cycle of growth”.

One of the projects underway is the construction of the so-called Colombo North Tower in Lisbon, the third office building adjacent to the shopping center of the same name, which, with nine floors and 35,000 square meters (m2) of gross construction area, represents an investment of 118 million euros.

According to Sierra’s CEO, the project is being promoted in partnership with the French insurance group AXA, which in May will buy a 74% stake in this real estate project, scheduled for completion by the end of 2025.

Hervé Hubert
Hervé Hubert
Hervé Hubert is a 55-year-old writer and journalist based in Porto, Portugal. Born in France, he brings a unique blend of French and Portuguese perspectives to his work. Education Hervé studied Journalism and Literature at the University of Lyon in France. After completing his studies, he gained valuable experience working with various French media outlets (Portugal France also). Career He worked for several years as a journalist in France before making the move to Portugal. In Porto, he joined the Portugal Pulse team as a staff writer. Skills Hervé specializes in storytelling, investigative journalism, and cultural commentary. He has a flair for capturing complex issues in a relatable way. Personal Life He currently resides in Porto and enjoys the city's rich culture, from Fado music to Francesinha cuisine. Hervé continues to maintain strong ties to his French heritage, often traveling back to France for family visits and cultural exploration. With his unique background and diverse skill set, Hervé Hubert adds a layered, multicultural lens to every story he covers.

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