Urbania in €100M Portugal investment plan
The Spanish real estate investment company Urbania is to invest around €100 million in Portugal.
The company, which has already invested €40 million in Porto’s Vila Nova de Gaia with housing, students halls of residence and retail units and opened up an office in Lisbon this year as part of its international expansion plan.
Urbania is already active in Fortaleza (Brazil) and the Spanish cities of Madrid, Barcelona, Malaga and Ibiza.
“The new office in Lisbon in the heart of the financial district meets the need of the company’s organic growth on the Iberian peninsula. With this inauguration, Urbana is boosting its strategic business lines in Portugal: developing and managing large parcels of land, student halls of residence and ‘build to rent’ says the company, adding that Nuno Torcato (pictured) who heads the Portugal operation has over 20 years experience in the financial and real estate sectors, with a thorough knowledge of investments and hotel asset management in Portugal.
Nuno Torcato has worked at a senior management level in large companies in Spain, Angola and Portugal having been part of companies such as KPG, Banco Finantia, Banif Investment Bank, PwC and the Pestana Group.
The company has various projects up and running in both Spain and Portugal in 2021, both in the residential segment and student accommodation where it has facilities for 2,000 beds in development in co-living, co-working, residential care home units and ‘build to rent’.
“Portugal today is a strategic market and the opening of the new office in Lisbon is an expected and natural step in our expansion strategy,” says Jeffrey Sugar, Managing Partner of Urbania Alternative Assets.