9 August 2019
Grandavenue72, led by Pedro Couto of Telhabel, is completing the construction of the first building in Efanor’s Jardins condominium, near NorteShopping, in Matosinhos (Porto). The apartment building will have 62 apartments in an area of 16,800 square meters and is expected to be completed by August 2020. It is the first of a set of six planned buildings, with a total approved construction area of about 105,000 m2.
Construction on the building originally began in 2009, part of the Efanor residential complex, which envisaged the development of a total of 700 flats. Work ground to a halt, however, due to the eruption of the financial crisis. Grandavenue72 acquired the development from Sonae Capital in 2018 for 30 million euros and is now proceeding with the development.
The five-floor building has four independent entrances and consists of studios and two, three, and four-bedroom flats with surface areas ranging from 156 to 196 square meters. Prices range from 476,000 euros for a three-bedroom flat to €599,000 for four-bedroom, with an average price of about €3,000/m2.
Original Story: Idealista – Elisabete Soares
Adaptation/Translation: Richard D. K. Turner