Portuguese real estate company Habitat Invest and UK fund manager Patron Capital have purchased a plot of land for a luxury housing project near Cascais, Portugal, worth over €23 mln.
The 9,000 m2 plot is located in Quinta da Marinha, one of the most exclusive locations in Cascais.
The project foresees the development of 13 luxury villas, with a total gross construction area of 4,500 m2.
The construction of the Plátanos - The Lines of Nature condominium is scheduled to start during 2023.
JLL advised the seller on the transaction, while Patron and Habitat were assisted by TFRA's legal team Teixeira de Freitas Rodrigues and Associates and Alphalink's technical team.
Gonçalo Ponces, head of development at JLL, commented: ‘There is a growing demand from developers and investors to develop new residential projects in Cascais for an exclusive positioning. This land is a particularly attractive asset in this context of demand, as it has a prime location next to Quinta da Marinha, which is one of the references in this segment in Portugal.’
Habitat Invest has €150 mln underway in 17 new projects, totalling more than 1,800 units, of which six will be launched in 2023, including Plátanos - The Lines of Nature.
