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Solyd launches €200M housing project in Lisbon
01 April 2019 | Ana Tavares

New project Altear is arriving to the market, to the Alta de Lisboa/Lumiar area of Lisbon. Once it is finished it will represent a total investment of 200 million euro.

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The new housing project from Solyd Property Developers was presented in March. Altear is destined to mostly Portuguese middle class clients (expected to be the big bet on new construction for the next few years), and it will reinforce this area of the city with 10 buildings of different typologies from 1 to 5 bedroom apartments, for a total of 500 apartments, with prices per sqm around 3.000 euro, and areas between 68 and 300 sqm.

The housing offer will be complemented with gym, pools, playgrounds, several green areas, recreation areas and commercial spaces. These last spaces are being planned and marketed along with CBRE.

Altear intends to become Lisbon’s new centre. It will have a total constructed area of 120.000 sqm and will be developed in stages. For now, the Lago Altear market has already started being built, composed by 2 buildings with 101 apartments and 7 commercial spaces.

Sociedade Gestora da Alta de Lisboa – SGAL is in charge of marketing Altear at this stage. It was also from SGAL that Solyd bought part of the terrains where Altear will be developed, the remaining part was acquired from a bank.

Solyd is the result of a joint venture between Estoril Capital Partners and the European Principal Group from Oaktree Capital Management. It has been present in the Portuguese market since 2015, and since then it has accumulated 400 million euro in its portfolio.