Yard Properties, owned by Israeli businessman David Rabbi, has entered the Portuguese market with a €13.5 million project in Lisbon and has two more in its portfolio, in the residential area.
In a statement, the real estate investment and promotion company indicated that its first development, on Avenida 5 de Outubro, in the capital, has its structure completed and "the construction should be completed in February 2023”.
“The property offers 18 luxurious apartments, with two and three bedrooms, as well as a stunning five-bedroom duplex apartment on the top floor of the building”.
According to idealista, the Israeli businessman believes that the apartments “will be fully sold by the time of completion of the works, given the good pace of sales and demand witnesses” which has come from both national and international buyers.
In addition, Yard Properties has “two new residential projects under evaluation whose global investment amount will amount to €71 million” and plans to release them soon.
“The creation of the company in Portugal reflects the confidence that the Israeli entrepreneur places in the national real estate market and in its potential”. In addition, “in the last 40 years, there have been no qualitative leaps in Portugal in terms of construction processes and materials”, underlined the businessman, defending that we are now “watching a true 'revolution in construction'”.