The terrain has an approved allotment for building of around 39.000 sqm above ground, In it the partnership should build a mixed project of housing and students’ residences.
Cushman & Wakefield represented Grupo Novo Banco GA FII in the operation. For management, this business is proof of the investors’ apetite for this sort of asset, given the market’s current environment.
Ana Gomes, Associate and director of C&W’s Development and Rehabilitation Department, comments that «this is a rare development opportunity which allows for the immediate execution of a new big project in one of the city’s most dynamic, modern and consolidated areas. This new development comes at a time when the demand for quality residencial space for the middle class is very high and after a large investment from investors and developers, in the last few years, in rehabilitating existing buildings for the luxury and tourist segments».