Montepio in Porto built-to-rent

 In Banks, News, Real Estate

The Montepio Mutualist Association is to build six buildings at Quinta do Pinheiro in Porto.

In a real estate project that had been on ice for 20 years, Montepio has now signed a contract with a building firm to build six buildings at Quinta do Pinheiro.

It had begun to plan for the development in 1997 for 117 apartments and 192 parking spaces targeted at the rental market and which are meant to meet the needs of housing Montepio associates.
Located in the historic centre of Porto close to Avenida dos Aliados, Quinta do Pinheiro had once been the headquarters of the Porto Academic School.
The development marks Montepio’s return to investing in built-to-rent projects. According to the association this is a strategic option which harks back to many such investments made between the 1930s and 1960s, some of which are in Porto as is the case with buildings on Avenida dos Aliados, Rua Magalhães Lemos and the building on Rua Júlio Dinis Nº 656.
The company responsible for the construction is Construções Gabriel A.S. Couto, SA. Aligned with its objectives for this investment, Montepio is currently studying a refurbishment and renovation project for part of quarter which included the historic Montepio Geral building on Avenida dos Aliados and Rua Magalhães Lemos.