Krest announces three new projects worth €153M

Krest announces three new projects worth €153M
Alvor, Portimão.

The developer Krest Real Estate Investments chose the "Salão Imobiliário de Portugal" (SIL) as the stage for the launch of three new projects. Portimão, Lisbon and Paço de Arcos were the locations chosen for the Belgian developer's new residential projects.

These projects represent a total investment of 153 million euros, corresponding to an area of 63.400 square meters of construction, which will involve more than 500 jobs in the areas of construction, design and future management of the buildings and their structures.

"We are looking forward to 2024 and the evolution of the Portuguese property market, in which we are increasingly involved through our interaction with local architectural, engineering and construction partners, as well as with local authorities and communities", emphasises Claude Kandiyoti, Krest's Chief Servant Officer.

He adds that "we are presenting our new projects that represent an important investment, create value in Lisbon, Paço de Arcos and Alvor and contribute to the sustainability of these locations in Portugal. They not only attract and serve the new residents, but also the local community, through services, leisure areas, spaces to enjoy nature, thus integrating a strong component of environmental sustainability, but also social sustainability."

Alvôr The Breeze

This exclusive gated community, with a prime location on the seafront and endless views over the Alvor lagoon and the Atlantic Ocean, represents an investment of 18 million euros and occupies an area of 8,300 square meters. This project consists of a private gated community with 24 unique and exclusive two and three bedroom apartments, distributed over two buildings of three floors each. A communal swimming pool, private gardens, a private gym and yoga studio and a main reception area offer a range of exclusive amenities.

On the 3rd floor of each building, eight penthouses benefit from large rooftops with swimming pools and kitchens, guaranteeing residents maximum privacy in their leisure spaces. The location offers easy access to local amenities: Alvor Beach is just a five-minute walk away, while the bustling city of Portimão and the picturesque fishing village of Alvor are both an 11-minute drive away. Construction will begin in July, with completion scheduled for the third quarter of 2026.

Formoso Marvila

Designed by architect Ricardo Bak Gordon, it is located in Lisbon's Marvila district and is the result of the renovation of a historic wine warehouse, reflecting the ongoing transformation of this dynamic area of the city. Formoso Marvila, which represents an investment of 30 million euros, consists of 50 apartments ranging from 1 to 3 bedroom duplexes, overlooking the River Tagus, combining innovation and agility;tradition, preserving the industrial character of the warehouse through concrete and steel structures. This renovation pays homage to the main architectural elements of the past, including the façade, the sloping roof, the uncle and 11 concrete wine barrels. The commercial launch is scheduled for July 2024 and construction will start in September/October 2024 and completion is scheduled for the end of 2026.

Arcoverde New Urban Living

With an investment of 105 million euros, this large-scale development is at the heart of a rehabilitation initiative in the municipality of Oeiras and aims to promote its biodiversity and nature. The development comprises eight buildings with apartments from one to four bedrooms, totaling 199 units with underground parking and commercial units. A range of amenities are planned for residents and the local community.

Commercial launch is scheduled for July 2024 and construction is scheduled for the end of this year, with the completion of the first buildings by 2026.

Krest wants nZEB certification for 100% of projects

Krest has had a clear challenge from the start: sustainability. Partner architects are challenged to find solutions that meet the criteria for obtaining nZEB certification. Sustainability and the goal of "Zero Footprint" are "premises for working with Krest", says the promoter in a statement.

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