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THE FRENCHMAN CLAUDE BERDA INVESTS €300M IN PORTUGAL

The French magnate Claude Berda plans to invest a total of 300 million euros in the development of various real estate projects in Portugal, according to the Expresso newspaper. 

Claude Berda is one of the major real estate investors from Switzerland, where he has lived for more than 10 years, and one of the richest men in France. He is to invest in 4 projects in the centre of Lisbon, one in Comporta and one in the Algarve.

In Portugal, he is represented by José Cardoso Botelho, and created the company Vanguard Properties, which, “is moving forward in the first stage in luxury housing, the most sought after by foreigners,” explains the same source. In the medium term, student accommodation and coworking centres may also appear in the plans.  

José Botelho, Executive Director of Vanguard Properties, explains, quoted by the newspaper, that, “The first acquisition carried out was in December 2015, comprising land in Graça, with a full view of Lisbon, which belonged to EPUL and where a building will be built from the ground up. But a good part of the properties already in our portfolio in Lisbon are buildings for renovation then to be put on the market in a higher segment.”

Worth noting is that the majority of the properties were purchased from Estamo, of the Parpública group, and from Banif, such as a building in the Rua Castilho which housed the administrative services of the Ministry of Agriculture, bought for 12.5 million euros. The project for this property includes a penthouse on the top floor, which will cost 6 million euros.

Also of note is a building in Amoreiras, next to the Hotel Dom Pedro, for 12 million euros, a small palace in the Rua do Quelhas, in Lapa, and a tourist establishment in Porches, in the Algarve.

After June, work should begin on the projects in Amoreiras and in the Rua Castilho, with the first three projects due for completion in 2018.