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KNJ Group to invest € 70m in new projects in Porto

KNJ Group to invest € 70m in new projects in Porto
Vida Imobiliária · 14 Nov 2019

The Macanese group KNJ, owner of 40.5% of Global Media is preparing to invest around 70 million euros in new projects in Porto. The most significant will be the transformation of the former headquarters of Jornal de Notícias into a new Marriott hotel, which will cost up to 40 million euros.

Hotel Journal should be the name of the new Marriott Autograph Collection 213-room luxury hotel, located in Gonçalo Cristóvão Street. The information was provided by Global Media owner Kevin Ho to the Macao News Agency.

In addition to this project, KNJ also intends to build a new luxury residential gated community in the Foz do Douro area. The Miramar Tower will have 16 floors and will be located in Diogo Botelho Street.

Also in the pipeline for Portugal are other unspecified projects, which should create 1,500 new jobs in the next 5 years'. To the Macao news agency, the businessman said that "it is not only tourism that is growing in Portugal, it is the economy as a whole, and it is one of the most innovative hubs in Europe. The country will do even better in the near future”.