RE Capital has bought a site and construction licence in Cascais, Portugal, to build 14 luxury apartments in a joint venture.
The planning permission allows RE Capital to develop 14 high-end apartments with a Gross Development Value (GDV) of €40 million.
Known as Bellevue, the project is a joint venture with local developer Grupo Santo. This partnership comprises two high-end projects in one of the best areas of Cascais, spanning 11,300 square metres above ground.
Renowned ARX Portugal Arquitectos is designing the Bellevue apartments. Construction is imminent. The date set for completion is 2025.
Nuno Vicente Santos, Head of Portugal at RE Capital, says, “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, says, “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, says, “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.”
