Nexity Portugal to invest €68 million in middle class homes

 In Economy, Investment, News, Property

The French developer Nexity has a strategic development plan for Portugal which includes three residential real estate projects aimed at Portugal’s middle class.

The projects located at Dafundo in Lisbon and Leça da Palmeira near Porto represent a total investment of €68 million.
Fernando Vasco Costa, General Director of Nexity Portugal said in a press conference this week that the French developer’s focus would be more in the residential area in Greater Lisbon and Porto, with homes aimed at Portuguese families where there was a lack of housing for the middle classes.
Nexity Portugal currently has three residential projects in a development phase in both Lisbon and Porto.
At Dafundo, the company will invest €24 million in a 6,733m2 development with a total of 61 homes (Studio to four-bed+1), between 40m2 and 213m2 as well as two commercial units.
An investment of €24 million is slated for the development at Leça da Palmeira for the construction of 108 apartments (Studio to four-bed duplex), with areas of between 40m2-165m2 on a gross building area of 12,200m2.
Nexity will also invest in a second project at Leça da Palmeira involving an investment of €20 million.
“With these project, we want to be part of the solution to the problem of a lack of residential housing offer at affordable prices for Portuguese families. This represents a real change by building homes next to large urban centres since offer is practically inexistent at the moment and at prices that the Portuguese can afford to pay” says Fernando Vasco Costa.