Portugal’s largest private bank Millennium BCP has put a massive plot of land in Amadora, just north of Lisbon, on the market for an undisclosed price.
The lender has hired broker C&W to market the site, which extends to 111 hectares, 38 of which are buildable and would allow the construction of about 250,000 m2 of space.
The property is located near the city center.
Millennium bcp is working with the Amadora City Council to identify sub-units for residential development.
‘This is a rare opportunity for future promotion with scale in an exceptional suburban location at an extremely competitive price and in an increasingly strategic area, especially considering the growing need for modern and flexible housing for the middle class. And it is a great opportunity to create new places that are more people-friendly, with new dynamics and activities to the benefit of local population,’ commented Ana Gomes, partner and director of the Development & Living department at Cushman & Wakefield in Portugal.
Earlier in April Millennium BCP also recruited Savills to sell 11 plots in the Parque de Cisnes area in Portugal for an undisclosed price.
Located in Miraflores, on the border between Oeiras and Lisbon, these plots of land are mainly residential but can be adapted for other purposes (subject to planning permission).
