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Over 70% Of Flats in Duuo Reserved

28 May 2021 – Ana Custódio

In the first two weeks of the pre-launch of Duuo, the residential condominium next to Praça de Espanha, buyers reserved more than 70% of the available flats.

DUUO is a new development consisting of 280 residential units in two 140-flat apartment blocks totalling 34,000 square metres of construction, which will be developed in two phases, in an investment of 110 million euros.

BESIX Real Estate Development mandated Castelhana Real Estate in partnership with Compagnie du Bois Sauvage to market the apartment complex.

The project was designed with the best use of space in mind, offering spacious and bright flats with large balconies that extend the living area.

The top-floor penthouses will have a private pool on the roof overlooking the Monsanto Forest Park. DUUO will have an outdoor swimming pool surrounded by a garden for common use, adding a human and social dimension to the development.

The new condominium is already a benchmark in the Portuguese real estate market. The public’s reception has been highly positive, with more than 70% of the units reserved in the first two weeks of pre-launch.

The success is also due to the excellent payment conditions that allow 80% of the payment to be made at the deed when the financial institutions grant the mortgages.  At this moment, Portuguese nationals represent more than 90% of the buyers.

Construction is expected to start in September and will last for an estimated 24 months. Work on the second phase is scheduled to begin in the second half of 2022, with work on the DUUO development forecast for completion in 2024.

DUUO is the first investment of Besix Red in partnership with Compagnie du Bois Sauvage in Portugal and is already a commercial success.

Translation: Richard D. K. Turner