Dils enters the portuguese market with Castelhana, leader in new residential developments

Further significant investments planned in the portuguese market in the coming months to drive growth in the living segment and develop commercial real estate services

Following the expansion into the Netherlands, Dils continues its internationalization process, positioning itself as an independent and innovative player at the European level

Dils enters the Portuguese market with the acquisition of Castelhana, a leading independent group with 25 years of experience in real estate services, particularly known for its focus on premium residential new developments.

Founded in 1999, Castelhana has built one of the largest and most solid real estate portfolios in Portugal over the years, with over 600 renovations and new construction projects managed, totalling an overall value of more than 2.3 billion euros in the last 10 years. It is a top player in new developments in Lisbon and has played a key role in Portugal's most iconic projects, in collaboration with over 200 developers. The company employs more than 80 professionals operating across all Portugal with offices in Lisbon, Porto, and the Algarve.

Dils has a significant investment plan for Portugal aimed at accelerating growth and bringing innovation to the residential sector while expanding into commercial real estate services (offices, retail, logistics, hospitality, etc.), leveraging on a hiring strategy focused on attracting the best professionals in the country.

The agreement with Castelhana allows Dils to export to Portugal its unique business model developed in the Italian market, based on strong innovation-oriented know-how and the ability to anticipate market trends in various real estate asset classes, thanks to the use of advanced digital technologies and highly experienced professionals. For this goal, Dils will leverage on the in-house Transformation Team which now counts 60 professionals specialised in technology, marketing and digital, graphic design, 3D programs and research.

The Portuguese real estate market presents interesting growth opportunities within Europe. According to Dils’ Team Research, since 2019 there has been an average of 160,000 residential transactions annually, with a turnover of around 30 billion euros per year. The residential markets of Lisbon and Porto are among the most dynamic in Europe, undergoing one of the best growth trends in values.

Portugal is also a market with great potential for major commercial asset classes, with nearly 3 billion euros in annual investment volume in recent years, and it is generating increasing interest from institutional investors. The importance of the hospitality sector is particularly highlighted, benefiting from the country's high tourism potential.

After entering the Netherlands in February 2023 with Van Gool Elburg, the Portuguese market represents another important milestone for Dils in its internationalization process, which will continue as planned with Spain, Germany, France, Poland and the UK.

"We are very proud to welcome the exceptional team of Castelhana into our Group, with many talented professionals who have brought the company to very successful achievements becoming market leader in the residential new developments in Portugal" said Giuseppe Amitrano, CEO of Dils. "This new chapter represents another important step for Dils in the international expansion plan that we launched last year. Our attitude when entering new geographies is to offer best in class services to our clients, combining local expertise with our know-how, competences, and technologies. The goal is to continue to expand our presence in other countries and become the new independent, smart, and alternative player in the European real estate market”.

Patricia Climaco, Castelhana’s controlling shareholder, said “This transaction comes at the perfect timing and will enable Castelhana to expand into new areas where Dils has extraordinary capabilities and know-how. I would like to take this opportunity to express my sincere gratitude to the developers who have entrusted us repeatedly with the marketing of their developments over the years. Together we have set trends in the residential sector, rebuilding city centers, expanding them, bringing life and pride to them. To so many friends, partners and clients that have been fundamental to Castelhana's success a special thank you. To my Dream Team, more than 80 Castelhana employees, for the commitment, continuous dedication on overcoming obstacles, for the loyalty and the excellent work done every day, just to say “You are the best!”

Last but not least a tribute to my father, the founder of Castelhana. Only with his vision, resilience and inspiration this dream and this journey was possible. This is the sector to which I have dedicated 20 years of my life, which I am passioned about and want to continue to be involved. Going forward, my focus and commitment will be on guaranteeing a smooth transition. I am sure that Castelhana, together with Dils, will continue to be a vibrant and leading player in the market and delivering top quality service to our partners, investors and clients”.