Developer invests €10M in Paço de Arcos

 In Development, News, Property

A Luso-Australian property developer has invested €10 million in a 10 five-bedroom house development in Paço de Arcos in Oeiras.

Vista do Paço will be a luxury development from JPM Alliance with 10 homes all costing over €1 million.
The detached homes will have a 360 m2 gross area and boast panoramic sea-view terraces, swimming pool and private parking. The twin houses have four bedrooms which cover an area of 308 m2 with swimming pool, garden and parking places, in addition to sea-views.
JPM Alliance was set up in 2013 by the Australian businessman Jonathan Nichols and Portuguese Patrícia Almeida with the aim of building high quality residential and non-residential developments in Portugal, Myanmar, Australia and Singapore.
In an interview with Jornal Económico, Patrícia Almeida says that the choice of Paço de Arcos happened through an intermediary who knows the project’s architect Afonso Almeida Fernandes.
“We were presented with the project through a friend in common and we thought it fell within the parameters of what we were looking for. We were looking to start building in Portugal, buy a plot of land and execute our own project and now we’ve found the perfect conditions to do so”.