Vanguard invests €30 million in residential project in Lisbon
Vanguard Properties has invested €30 million in a new development for sale in Lisbon with the project Tomas Ribeiro 79 on Avenidas Novas.
“We take care not to make trendy buildings, but ones that stand the test time”, said the CEO of the real estate developer, José Cardoso Botelho at the project’s presentation.
Although sales started this week, the development consisting of 21 two-to-four-bedroom apartments and areas from120m2 already has two reservations.
With the marketing charged to consultants Dils and Porta da Frente, the average value per m2 is €12,000. The construction of the project has been contracted to the DST group and will take 18 months.
“Demand has been strong and although most are foreigners, there is also a lot of demand from Portuguese customers,” said the CEO.
As in other Vanguard Properties projects, the ‘Tomás Ribeiro 79’ development will also have a concierge service.
“It is an amenity that is seen a lot abroad, but it is still not so common in Portugal”, stressed José Cardoso Botelho, giving the example of the ‘Castilho 203’ project, where there is a permanent concierge service.