Finangeste to Build 73-Home Condominium in Caldas da Rainha

9 May 2019Richard D. K. Turner

Finangeste, a state-owned ‘bad bank’ that has a €1.2-portfolio of non-performing loans in addition to €600MM in property holdings, will renovate five abandoned buildings in Caldas da Rainha, north of Lisbon, in an investment valued at 10.5 million euros.

The bank is planning on building a residential condominium with 73 new homes, gardens, swimming pools and services. The development will consist of five phases, the first of which Finangeste has already completed.

Original Story: Dinheiro Vivo – Ana Margarida Pinheiro