BNP Paribas RE and Grupo SIL to Develop 74,000-m2 Project in Lisbon

24 May 2018

Through a joint venture with the SIL Group, BNP Paribas Real Estate has just strengthened its presence in international real estate development by purchasing a significant plot of land in Lisbon, where it will develop a 74,000 m² mega-project.

The announcement was made after the inauguration of the 99 West Tower in Frankfurt. BNP Paribas Real Estate will develop the project through a partnership with the SIL/Pedro Silveira Group. Two office buildings, totalling 37,000 m², will be built on the site adjacent to the Lx Factory, along with several residential units with the same total area.

Thierry Laroue-Pont, Chairman of the Board of Directors of BNP Paribas Real Estate, notes that “by launching this operation in Lisbon, we once again demonstrate our international ambitions and more specifically our willingness to pursue real estate development in Europe, where we have identified excellent prospects in Portugal,” the statement read.

Thomas Charvet, the managing director of BNP Paribas Real Estate’s real estate development business, stated that “based on our recent international success in the United Kingdom and Italy and following the recent launch of the 99 West Tower project in Frankfurt, is with great satisfaction that we have once again fulfilled our international ambitions in our sector, positioning ourselves with this ambitious project in a neighborhood which is undergoing full urban renewal, focusing on mixed-use projects. These international experiences are extraordinary opportunities for us to internalise new ideas, challenge our habits and innovate [in the sector].”

Original Story: Vida Imobiliária – Ana Tavares

Translation: Richard Turner