Photo of Alexandre Herculano 41 by Louvre Properties
This is one of the paths outlined by the company’s founder Paulo Loureiro, who has already established the company’s first alliance, with Universtone, advances the company in a press release sent to IP. This is an international real estate investment group which has a portfolio – spread across France, Belgium and South Korea –, which is currently estimated at 1.7 billion euro.
For Paulo Loureiro, Bondstone’s CEO, «it makes sense to keep betting on the Portuguese real estate market due to its recent international recognition as an investment destination, the favourable conditions for the establishment of big companies in the country and the lack of new housing for the middle class».
One of the focuses for this new private equity is the creation of houses – for rent and for sale – for the middle class, but it’s not the only one. Under its radar are also repositioning and new construction projects within the country in other segments, such as hotels and offices and student and senior residences within the alternative segment.
It is within these commercial segments, that, according to Bondstone’s CEO, «there are more attractive opportunities both in repositioning and in new construction projects. For example, the recent increase in office rents, combined with high occupancy rates and a lack of offer for new spaces led to an imbalance between demand and offer which created an opening for the development of new projects».
These are some of the reasons pointed out which justify the creation of Bondstone, since this new company will expand the action scope until now only provided by Louvre Properties, another company founded by Paulo Loureiro in 2016, which is dedicated to developing housing and high-end rehabilitation projects in Lisbon, Cascais and Porto. Until now, 9 projects have already been started for a total investment of around 100 million euro.
Louvre Properties should now be incorporated into Bondstone but without losing its identity. This new private equity will be headquartered in Lisbon with branches in Porto and also in London.