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Israeli group wants to invest 100 million in Portugal and starts two projects in Porto

Israeli group wants to invest 100 million in Portugal and starts two projects in Porto
Jornal de Negócios · 27 Apr 2020

"João das Regras" and "Paraíso 49" are the names of the two new real estate projects that the Israeli group Taga-Urbanic is going to promote in the city of Porto, having awarded the construction of both to Gabriel Couto, builder of Famalicão.

Since entering Portugal two years ago, the Taga-Urbanic group guarantees that "it has already carried out more than a dozen real estate acquisitions, including land and properties to build and/or rehabilitate", with the intention of investing around 100 million euros in the two largest Portuguese cities, in the first five years of its activity in our country.

"The Israeli group aims to create, in these five years, a portfolio of about 700 rehabilitated apartments, both in Porto and in Lisbon", advances Gabriel Couto.

The first real estate development to be built by the Famalicão construction company for the Israeli group in Porto is located at Rua João das Regras and will consist of two buildings, one of which is high and the other is elongated, which will give rise to 44 housing units of typology T0 and two typology T1.

Among the 44 studios (T0) that make up this real estate project, the areas range between 26 and 30 sq. mt., consisting of kitchenette, living room and bathroom, while the T1s will have dimensions ranging between 33 and 55 sq. mt.

As for the second real estate development, it is a multifamily housing building and is located at Rua do Paraíso.

Consisting of eight floors - three underground, one on the ground floor, three on the upper floors and one set back -, it will house a total of 18 apartments (one T0 + 1, nine T1, three T1 + 1, three T2 and two T3) .

In the same statement, Gabriel Couto reports that the Taga-Urbanic group "has been successfully developing real estate and hotel projects in other cities, namely in London, Berlin and New York", and is also evaluating other markets.

"However, Portugal is, at this moment, its biggest bet in the short and medium term", emphasizes the construction company.

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