RE Capital, the property company specialising in repurposed real estate in Europe’s cosmopolitan cities, has acquired a site in Cascais, Lisbon, with planning permission to develop 14 high-end apartments with a gross development value of €40m.
The project, known as Bellevue, is a joint venture between RE Capital and local developer Grupo Santo. This partnership comprises two high-end projects in one of the best locations in Cascais, spanning 11,300sqm above ground. Construction is expected to commence in Q1 2024, with completion scheduled for 2025.
Bellevue will feature 14 unique apartments, designed by ARX Portugal – Arquitectos office, that aim to epitomise elegance and sophistication, with a focus on practicality and sustainability. The project promises to deliver a residential experience that underscores quality modern living, while setting new benchmarks in luxury residential living, RE Capital said.
Nuno Santos, head of Portugal at RE Capital, said: “Cascais offers a world of wonder for travellers seeking an authentic and unforgettable experience. From the colourful fishing villages to the visually striking beaches – every corner of Cascais is a feast for the senses. Historic demand for this area sends a clear signal to investors that this is an opportunity rife for growth.”
Newman Leech, CEO of RE Capital, said: “Bellevue is a landmark development which showcases the pinnacle of luxury living in Cascais. Partnering with Grupo Santo strengthens our dedication to realising a vision of excellence and exclusivity for investors and future tenants.”
Paulo Santo, vice-president of Grupo Santo, said: “We have been operating in the real estate market for 50 years and we know the potential of Cascais particularly well, whose urban landscape is intertwined with the history of Grupo Santo. With this promising partnership with RE Capital, we continue decades of work, based on quality and innovation, which guides our project and the choice of our partners.”
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