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John Rabie has a €200M portfolio in Portugal: «We are here to stay»
24 June 2019 | Ana Tavares

The partnership between Neworld, from South-African entrepreneur John Rabie, and Swiss GMG Real Estate already has a 200 million euro investment portfolio in Portugal which will represent 500 apartments, the first steps in a 10 year plan.

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«We are in Portugal to stay», stated John Rabie to the journalists yesterday during the presentation of  LX Living, a residential condominium with 151 apartments in the Amoreiras area which will represent a 90 million euro investment.

The main interested parties will be professional investors present in the Portuguese market representing foreign and domestic investment groups. The potential for valuation and redeployment of these assets on the market is one of the great attractions for the investors.

 

 10 year plan for Lisbon

«We have a 10 year plan for Lisbon. We already bought 5 assets in the capital, in a 200 million euro gross investment. In the coming months we will announce new projects and deliver 500 apartments within the next 4 years», explains Neewman Leech, GMG Real Estate’s CEO. 

Besides this project, the partnership has 4 other projects, in areas such as Marvila, Expo and the centre of Lisbon. But «we are looking at the whole country and alert to opportunities in several areas. We are here to stay and we believe we can build a good value for money product, in nice areas». The Algarve is a possibility.

The office sector is also in the company’s sights for one of the following stages, in particular in Lisbon, «where there is a great scarcity».