223
223
  • Transaction / Assets
    14-hectares of land in Alcantara, Lisbon
  • Seller
    na
  • Buyer
    EMGI
  • € MM

China’s EMGI to Invest €300 Million in Major Mixed-Use Development in Lisbon

29 August 2019

The EMGI Group has acquired a significantly sized plot of land in Alcântara, called Encosta da Tapada, and plans to invest a total of 300 million euros in a mixed-use development.

The approximately 14-hectare plot of land is located next to the former Alvito Quarry, in Alcântara, Lisbon. The Encosta da Tapada project consists of a mixed-use development with 87,000 square meters of flats, 22,000 m2 of offices and 11,000 m2 of shops, along with 900 parking spaces.

About 25% of the total 550 planned apartments will participate in the Portuguese government’s Affordable Rental program, an initiative that provides tax incentives to developers to create below-market rental housing.

The Chinese investor group is currently investing in six other real estate projects in Lisbon.

Original Story: Economia Online – Leonor Mateus Ferreira

Adaptation/Translation: Richard D. K. Turner