Brazilian Rio Capital will invest €65M in Lisbon

Brazilian Rio Capital will invest €65M in Lisbon

Rio Capital landed in Portugal around two years ago and it has already developed a total of 6 projects, representing 30.000 sqm in construction. Until the end of the year, it plans to invest 35 million euro and 30 million euro more in 2022.

Project Avenida Living is the company’s latest. Conceived by Miguel Saraiva, it is located at Avenida João Crisóstomo, next to Avenida da República, and will be the end result of the rehabilitation of an already existing building, representing a 9 million euro investment.

This building consists of eight 3 and 4 bedroom luxury apartments and a store on the ground floor. Architect Miguel Saraiva remarked in a release «a functional and contemporary concept, without changing the building’s historical mark, with practically one apartment per floor and increasing the exclusivity of those who will inhabit them. A silent intervention, which valued the existing heritage through its restoration. One more building given back to the city», he considered.

Amongst the projects already concluded and sold by Rio Capital are the Cruz da Pedra Palace, a small 17th century palace located in Lisbon converted into a luxury condominium with 13 apartments with a view over the Tagus, with spa, swimming pool, gym and concierge.

In Vila Franca de Xira, Rio Capital is developing the Vila Viva, together with Portuguese developer Estrutural Group. It will offer 85 apartments destined to the middle class.

In February, the company should launch a new student residence, also designed by Miguel Saraiva, next to Univeridade Nova’s Faculdade de Ciências e Tecnologias (Faculty of Sciences and Technology) with a total 330 individual rooms.

Next the company will launch a new 40 one and two bedroom apartment housing project in the Alcântara area, next to Lx Factory.

Portugal is «safe and attractive for investments»

Júlio Luz, Rio Capital’s CEO, considered that «the real estate market may have decelerated with the pandemic, but it never stopped, which shows that Portugal is a highly safe and attractive country for investments», highlighting «all the well-known conditions such as geographical location, climate and modern and efficient infrastructures».

Júlio Luz guaranteed Rio Capital is in Portugal «to stay and to continue investing». And he highlighted the focus on developing «quality projects, focused on the Portuguese market, not counting exclusively on foreign clients. Whether destined for the middle class or the higher classes, our projects reach a very interesting price/quality ratio which, added to the assets’ locations, makes them unbeatable».

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