Israeli real estate developer and investor Yard Properties has set up an office in Lisbon and earmarked €84 mln for investments in Portugal.
The first development is called 355 Outubro and is located on Avenida 5 de Outubro, one of the most famous avenues in Lisbon.
Construction of the €13.5 mln project is ongoing and has been entrusted to the Alves Ribeiro company, with completion due in February 2023.
The property consists of 18 luxurious apartments, with two and three bedrooms, as well as a five-bedroom duplex apartment on the building's roof.
David Rabbi, owner of Yard Properties, said: ‘The setting up of the company in Portugal reflects the confidence that we have in the national real estate market and its potential. We aim to develop projects with positive impact, with an innovative vision, which contribute positively to the sector and socially, respectful of the environment. The apartments will be totally sold by the time the works are concluded, given the good rhythm of sales and demand that has been seen.’
The building is just a few minutes away from the main cultural attractions, public transport connections, the largest park in the city centre (Jardim do Campo Grande), shops, schools and universities.
Yard Properties has two more prime residential projects in the pipeline, worth an additional €71 mln, of which more details will be announced soon.