German developer Rockstone has announced that it will invest more than €250 million in Portuguese real estate over the next few years, taking advantage of the "golden decade" that the market is currently experiencing.
Rockstone is currently developing the Atlantic Club Comporta, next to the beaches of Carvalhal and Pego, with 24 villas with areas of up to 700 sqm and swimming pools, spread over 15 hectares of land, with a front house structure with reception, living rooms and restaurant, an investment of more than €129 million. These houses are inspired by the traditional huts of fishermen and agricultural workers in the region, in straw, designed by Jacques Grange. The landscape architecture is by American Madison Cox.
Dietrich Rogge, founder and managing director of Rockstone, said in a statement that "Portugal has managed to establish a brand, with a position of excellence that is recognised in various latitudes. Take the case of the United States, where they call us 'the California' or 'the Hamptons of Europe' - this is something unique".
Nationalities are likely to continue to diversify. "There are a large number of high net worth individuals who like to live in other places and enjoy coming to Portugal because the quality of life here is wonderful. In the case of the Atlantic Club Comporta, the line between buying a holiday home and buying a home or second home is already very blurred."
He explains that “this club concept in Comporta is really a combination of the two realities. Here, we combine excellent and exclusive services with a hybrid concept of housing and hospitality,” he says, pointing out that half of the units have already been sold, mostly to foreign clients. The first phase of this project is being delivered this summer.
In addition to this, another project is also underway in Melides. But regions such as Lisbon, Porto and the Algarve are part of Rockstone's future plans. "It's only a matter of time before we get there," he assures us.
Rockstone currently has six offices in three European countries. In Germany, it has offices in Berlin, Frankfurt, Hamburg and Munich. In the Iberian Peninsula, it is present in Lisbon and Madrid. Since its creation in 2013, it has developed and delivered real estate projects worth €1 billion.
