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Avenue will invest €150M more
20 February 2020 | Ana Tavares

Developer Avenue is preparing to follow through with an investment plan of around 150 million euro for Portugal. And the middle class is its target.

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In an interview to Idealista, Aniceto Viegas, the developer’s CEO advanced that «our main goal is to conceive a project, or several, for the middle class, which represents a very sensitive price equation». The value «must be very well calibrated. We need to have the adequate terrain, stock and price. We need to have balanced areas in terms of quality of living, not too big and not too small». But Viegas guarantees that the company will keep investing in the Greater Lisbon’s housing segment.

Avenue’s main focus for the near future will include new offices in Lisbon (where it already has project Exeo undergoing) and Porto.

Present in Portugal since 2015, the company has already invested a total 225 million euro in 9 projects in Lisbon and Porto, within the housing and more recently the office segments. Most projects were sold while still at the planning stages, and 40% of buyers are Portuguese.

Last year, the company concluded a project in the Chiado area, the Orpheu 11 and The Cordon. During this year’s first semester the company will deliver the Mulberry Hill and the 266 Liberdade, both in Lisbon. These projects represent a 250 million euro turnover.