Vanguard considers €30 million investment in housing projects
Vanguard Properties is studying a strategic project for three buildings offering homes at accessible prices for Lisbon’s Parque das Nações.
According to an official source from the developers mentioned in Jornal Económico, the development would be a “strategic project” for the eastern sector of Lisbon around Parque das Nações.
The project would involve a plot of land covering 11,000 square metres within a residential and commercial area in which Vanguard would build three buildings.
One building would have nine floors and the other two would have four floors with an average sale price of between €3,000 and €4,000 per square metre.
The total investment value has not been specified by Vanguard Properties but the newspaper has calculated that it would stand at around €30-€35 million in addition to a shopping area for residents living in the vicinity.
The project will be built on land that once belonged to industrial and medical gas manufacturer Air Liquide in the south zone of the Parque das Nações area, on Avenida Marechal Gomes da Costa.
After having won the tender to buy land at Herdade da Comporta, Vanguard Properties was in the news again last week after having sold the most expensive apartment in Portugal ever to a European citizen for €7.35 million.
The apartment in question is a three-bedroom penthouse on the 13th floor of luxury building 203 Castilho with an interior area of 287 square metres. It means that the new owner paid €25,600 per square metre. The apartment also has a 260 square metre terrace with views over Parque Eduardo VII and Avenida da Liberdade.
Original article by Essential Business