Swiss developer has invested €200 million since 2017
Luxury residential property developer Mexto Property Investment has invested over €200 million in Portugal since 2017 and is currently investing a further €80 million.
The Swiss developer, which specialises in the residential refurbishment market, has plans to continue investing in Portugal according to an interview with Diário Imobiliário, particularly in new locations, and is actively seeking new opportunities and exploring potential projects in several regions in Portugal.
According to Tomas Suter, senior advisor & partner at Mexto Property Investment, the Portuguese market continues to show resilience and growth, and since 2017 Mexto has invested €200 million and refurbished 71,000m2 of properties.
Among its flagship developments are the projects Rodrigo da Fonseca, Maison Eduardo Coelho, O’Living and Avencas.
“Even with relative political instability Portugal continues to be fairly attractive for overseas investors looking for a safe country with an all-year-round sunny climate, great quality of life, extraordinary residential areas, and a country that is far from the current conflict in the Ukraine,”he said.
The developer is about to start work on two new projects; one on Rua Castilho 3, Lisbon and the other in the Lisbon neighbourhood of Graça.
O’Living represents an investment of €35 million on a 19,000m2 construction area spread over two lots, each with eight floors. Another project, Alento, located in the Comporta-Melides-Grândola triangle will become a hotel with 11 residences.
At Meco, 500m from Rio da Prata beach, the developer plans to build apartments, twin houses and detached houses. The three projects represent around €80 million of investment.
Tomas Suter says that in addition to Lisbon, Porto and the Algarve, both Aveiro and Braga offer promising prospects.
The developer also expressed the hope that the new government’s Urban Simplex regime aimed at simplifying planning licensing procedures would speed up application processes in a faster and more effective way.
