Vanguard Properties plans new projects worth €290M for Lisbon

Vanguard Properties plans new projects worth €290M for Lisbon

The information was advanced this week by the company’s CEO, José Cardoso Botelho, during the presentation of the company’s new sensory brand in Lisbon. One of the great novelties is the new project Foz do Tejo, in Oeiras.

Promising «an extraordinary project», he explained that «we want to create a new centrality with a quality the area doesn’t have and create an exceptional product». Within a 33 hectares area, around 400 housing units will be built, mostly apartments, in a 240 million euro investment. Investment in public art or the concern with sustainability are some of this project’s characteristics.

The terrain has already been acquired by Vanguard Properties, which proposes to start building the infrastructure as soon as the project, which is in the final stages of its approval, gets the green light. «The idea is to start with the infrastructure until the end of March, and those works will last around 18 months».

On the other hand, in Lisbon, next to Marechal Gomes da Costa, a new Riverbank will be constructed, in front of the area’s new Decathlon store. It will be composed by around 100 one bedroom to four bedroom apartments, priced between 3.500 to 4.000 euro per sqm, in a 50 million euro investment. The allotment is expected to advance also in March and the buildings’ construction is expected to start until the beginning of 2021.  

José Cardoso Botelho commented that this «area is being renewed, namely with the settlement of an international school from group Martinhal, something that was lacking in Lisbon. Many foreign clients come to Portugal with their children and so a school of this type was lacking».

New €35M project next to Quinta do Lago

Vanguard Properties also recently acquired an aparthotel right next to Quinta do Lago, which will be fully restructured, transforming the initial 42 fractions into 28 new luxury apartments, besides three houses which complete the Shore project. The investment will be 35 million euro.

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