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Lisbon is the administrative, business and tourism centre of Portugal. The national economy has long been on the mend, and the number of global investors interested in obtaining real estate in the Portuguese capital is growing.

Some observers call Lisbon "the new Barcelona": in 2016, the city took seventh place in the PwC Investment and Development Prospects ranking.

The new 24,000 m2 IKEA store is to open earlier than expected this March at a cost to the Swedish company of around €200 million.

IKEA Loulé's newly appointed manager, Abdelhak Ayadi, today confirmed the date today and commented, "With the opening of IKEA Loulé, we will be even closer to our customers in the south of the country and will help contribute to the dynamism of the region."

Caixa Geral de Depósitos has rejected a rescue deal for the Keys, based at the Quinta do Lago estate.

The taxpayer-owned bank is owed €278 million but has concluded that it was not worth agreeing to a Special Revitalisation Plan for its client, Birchview Imobiliária.

The normally gloomy head of the Algarve hoteliers’ association, Elidérico Viegas, said with rare enthusiasm that last year’s hotel occupancy growth was double the expected rate.

Despite getting this 2016 estimate wrong by 100%, the association chief says that the prediction for this year is for a 3.1% increase in tourist occupation rates in the Algarve, a 6.1% increase in hotel turnover and a 3% increase in average hotel room rates.

The Cultural Directorate of the Algarve has announced a €4.3 million spend on some of the region’s most important national monuments, including the castles at Silves and Paderne.

The magalithic remains at Alcalar, the Roman buildings at Milreu and the fort at Sagres all will benefit from the grant under the CRESC Algarve 2020 programme.

Holidirect, the holiday rental property portal, now have a NEW pricing structure. WE HAVE LISTENED to our property owners and made adjustments to the way we work to ensure we have a platform that works for us all.

The results have been immediate with an increase in our property listings and an influx of reservation enquiries from holidaymakers.

PALACETE FONTE DA PIPA TRAGEDY - a statement from Quinta da Fonte da Pipa Urbanizações, Lda.

The fire at Palacete is a true tragedy, and the article on the event is inaccurate, as it indicates that shareholders of the owning company, Quinta da Fonte da Pipa Urbanizações, Lda., never cared for the Palacete and are to blame for this unfortunate loss of architectural patrimony.