Bondstone will develop two residential projects in Porto and Cascais for a total investment of €50m. The firm has acquired the two sites and secured planning consent. It expects to start construction of both in the first quarter of 2021, with completion expected in the first quarter of 2023.
The €35 million project in Porto, which is being developed in a joint venture with Violas Ferreira Group, a leading Portuguese family office, will comprise 36 high-end townhouses in Foz, the most exclusive residential neighbourhood in the city. The €15 million in Cascais, a coastal town, just west of Lisbon, will comprise 15 luxury apartments and is being carried out by Bondstone alone.
Paulo Loureiro, CEO of Bondstone, said: “We are excited to be developing architecturally distinctive, high-end residential projects in Porto and Cascais, two cities with strong market fundamentals, robust demand and low supply of new residential units. They are designed specifically for today’s structural trends and behavioural transformations, triggered by the pandemic lockdowns”.