International investors have acquired Belvedere, a residential development project in Lisbon’s Arroios district, with Dils acting as sell-side advisor on the transaction.
The project envisages the transformation and expansion of an existing mansion into a new residential development comprising 46 apartments across eight floors. The scheme combines the refurbishment of the existing building with the construction of two new blocks, integrating the historic property with contemporary architecture.
Belvedere is located along the Avenida Almirante Reis axis, within close proximity to central Lisbon, including the Baixa district and São Jorge Castle.
“This transaction confirms the strong institutional appetite for residential development projects in central Lisbon locations. Arroios is now one of the city’s most vibrant neighbourhoods, combining a highly central location with limited availability of new-build product”, said Gonçalo Santos, Head of Development, Living & Capital Solutions at Dils Portugal.
The parties have not disclosed the value of the transaction or the identity of the international investors.
