Vanguard invests €40 million in Lisbon’s Graça

Portugal’s largest private luxury real estate developer Vanguard has invested €40 million in a luxury residential development in Lisbon’s Graça neighbourhood.

The Terraços do Monte “will be one of the most iconic buildings in the city and is one of the most talked about developments” according to José Cardoso Botelho, CEO of Vanguard Properties.

The project will provide 15 luxury apartments spread out over five floors varying between two-to-five-bedroom apartments, including two penthouses costing between two and four million euros. The penthouses, each costing €10 million, have private terraces.

The development also offers 55 parking spaces and several leisure amenities such as an indoor and outdoor pool, a gym, sauna and Turkish bath, garden and concierge service.

Terraços do Monte was financed 60% by Banco Montepio and was designed by architects Nuno Mateus and José Mateus of ARX Architects while the interiors were created by interior designer Gracinha Viterbo.

The project’s design is marked by simple and clean lines with soft colours, stone and Portuguese azulejo tiles.

Lisbon’s notoriously slow planning process meant that the project took time to acquire planning permission. The land was purchased in 2016 but Vanguard has only been able to start work now after a 10-years wait.

José Cardoso Botelho remarked: “There was no justifiable reason for such a delay because we met all the urban requirements stipulated by the council.”