Nexity to Invest €68 Million in Homes in Lisbon and Porto

18 May 2020 The French developer Nexity announced a strategic plan for Portugal that focuses on the development of three residential real estate projects in Dafundo, Lisbon and Leça da Palmeira, near Porto, in a total investment of 68 million euros. The projects are aimed at the country’s middle class, which is suffering from a lack of housing.

The company first plans to invest 24 million euros at Dafundo, building a development with a gross construction area of 6,733m2. The project includes a total of 61 homes, with sizes ranging from studios to four-bedroom flat, along with two shops. In Leça da Palmeira, the Nexity is planning to build 108 apartments, again in an investment of 24 million euros.  The flats, also ranging from studios to four-bedroom apartments will have sizes between 40 and 165 m2, again with shops. The second project in Leça da Palmeira will involve another investment of 20 million euros.

Besides these, the developer already has other projects under development, in Lisbon, Porto and Algarve, destined for the residential and senior residential market, in a €160-million investment pipeline.

Original Story: Diário Imobiliário

Translation/Summary: Richard D. Turner