RE Capital and its investment partner Real Estate Investment Group (REIG) have announced the acquisition of the Oeiras Tech City mixed-use development in the heart of the Oeiras municipality, near Lisbon, from Novo Banco for an undisclosed amount.
The project, set on a 93,000 m2 plot, is planned to provide 82,000 m2 of residential, co-living, services, and retail spaces adjacent to Tagus Park, one of Portugal's most prominent office parks.
Newman Leech, CEO of RE Capital, added: 'Our vision for Oeiras Tech City is to blend modernity with sustainability, creating a harmonious environment that resonates with the evolving preferences of today's urban dwellers. This project truly reflects our passion for delivering exceptional quality and value to our partners, investors, and the communities we develop in.'
Olivier Hezelot, head of Europe at RE Capital, said: 'The Oeiras Tech City project is a pivotal moment in our European portfolio, showcasing our ability to transform landscapes into thriving ecosystems. This development is more than just buildings; it's about fostering a connected and sustainable community, setting new standards for living and working environments in Europe.'
