Dils buys majority stake in Lucas Fox and strengthens presence in the Iberian Peninsula

Dils, which began operations in the Portuguese market in May 2024, announced the acquisition of a majority stake in Lucas Fox, a leading luxury residential property retailer with 20 years of experience. This transaction, which aims to strengthen Dils' presence in the premium segment of the Iberian Peninsula, is expected to be completed in the first quarter of this year.

Founded in 2005, Lucas Fox has become one of the most respected companies in the real estate sector in Spain, with a turnover of over 30 million euros and a team of over 250 professionals. The company operates throughout Spain, with headquarters in Barcelona and offices in strategic cities such as Madrid and Valencia, as well as a presence in prestigious destinations such as the Costa Brava, Costa del Sol and Costa Blanca.

Dils established itself in Portugal in 2024, with offices in Lisbon, Porto and the Algarve, with the acquisition of Castelhana in the residential area and the creation of a commercial real estate team with experienced professionals. The company has outlined a strategic investment plan for Spain, aiming to accelerate growth and modernize the residential market, as well as expand its presence in the commercial real estate sector, including offices, retail, logistics and hospitality. Over the next three years, Dils expects to increase its team to around 400 professionals.

According to Dils' Team Research, between 2019 and 2023, there were an average of 560,000 residential transactions per year in Spain. In 2024, the Spanish residential market is expected to reach a total of 642,000 transactions, the third highest figure in history. The residential markets of Madrid and Barcelona stand out as some of the most dynamic in Europe, with good prospects for long-term appreciation. The Spanish coast also continues to be an attractive destination for international buyers looking for an exclusive lifestyle.

In the commercial segment, Spain has significant potential, having attracted almost 60 billion euros in investments in the last five years, including 14 billion euros in 2024 alone.

Giuseppe Amitrano, CEO of Dils Group, highlighted the importance of this partnership as it represents “a fundamental milestone in the implementation of our international expansion plan, which began in 2023. We expect revenues of over 100 million euros with a multidisciplinary team of over 600 professionals in four countries”.

Amitrano added that Dils is excited about its entry into the Spanish market and that the objective is to continue to consolidate the investment program in the countries where it is already present, such as the Netherlands, Portugal, Spain and Italy, in addition to expanding into new markets such as France, Germany, Poland and the United Kingdom.

Pedro Lancastre, CEO of Dils Portugal, reinforced the company’s commitment. “This acquisition and Dils’ growth in the Iberian Peninsula, as well as the ongoing expansion process, reflect our commitment to being an innovative, independent, intelligent and alternative player in the European real estate market,” he stressed.