Elegant Group invests €130 million in Parque das Nações area
The Elegant Group, held by Martinhal Hotels & Resorts, is investing €130 million in three projects in the Parque das Nações area.
They are: the Martinhal Hotels & Resorts; an office building purpose-built for the insurance giant Ageas and an international school – United International School of Lisbon – on plots of land once occupied by the former Universidade Internacional on Avenida Gomes da Costa. The international school will be able to take 800-900 pupils from the 1st to 12th grade.
According to information from Diário Imobiliário, the Martinhal Residences at Parque das Nações is the fifth residential-hotel development from the group. The Martinhal Sagres – the group’s pioneering project in Portugal and the first 5-star resort in that region of the Algarve, was launched 15 years ago and with it the Martinhal Group created a new concept of luxury family holiday resorts.
After the Sagres project, the Quinta do Lago, Martinhal Lisbon Cascais Resort and Martinhal Chiado projects followed.
The Martinhal Residences, an architectural project by Eduardo Capinha Lopes is the latest urban apartment development from the group. Located on the far western side of Avenida D. João II on a hill with a view over Parque das Nações (former Expo 98 site) and the River Tagus estuary, the project offers various attractive investment options designed for multi-generational and family living.
The first to fourth floors comprise apartments that will be part of Martinhal Hotels & Resorts’ luxury hotel chain and will offer a guaranteed return of 4% over six years, with the right to use the apartments for 14 days per annum. The apartments range from studio and one-bedroom all fitted out with furniture and household appliances.
From the 4th floor upwards there are private residential serviced apartments – Service Apartments by Martinhal – with services including an indoor pool, kids club and laundry service, among others.
Here the apartments are larger ranging from one-bed (64m2-78m2), two-bed (101m2-105m2), three-bed (138m2-156m2) and four-bed (172m2-240m2), with balconies overlooking the river; and an exclusive 356 m2 penthouse. Apartment prices range from €258,000 to €2.7 million.