Avenue invests €150 million in new Lisbon office space
Real estate developer Avenue is to invest €150 million in the EXEO Office Campus in Lisbon’s Parque das Nações.
The project will be one of the largest office complexes of its type in the Greater Lisbon Area after years of a lack of new office build in the city which threatened to put major multinationals from setting up in the Portuguese capital.
Avenue has already developed luxury residential projects in Lisbon but is now responding to growing demand for modern digital office space with a development comprising three separate buildings with a total office area of around 69,000m2 of which 1,800m2 will be earmarked for leisure and retail.
The new project is located next to the Oriente Station and is just five minutes from Lisbon’s international airport.
In the first development phase Avenue is expected to invest around €100 million using own capital.