Osquared launches new real estate project in Porto
RE Portugal
· 02 Mar 2022
Olimpo Studios is the most recent investment by Osquared, a brand of the Omer Group Investments, owned by the Israeli Eli Omer, in Porto, which plans the construction of over 100 flats in the Asprela area.
Located in Rua Professor Armando de Castro, next to Estrada da Circunvalação, Olimpo Studios will be set in a 12,000 square metre area, and will have 109 studio flats with 35 square metres and equipped, thinking about students from the various faculties in the area or young professionals from Hospital de São João or IPO do Porto. The condominium will have a central square and gardened areas.
In a press release, the businessman Eli Omer highlights that "this is a project different from all the others, a one-off project in its segment, given the size of the plot, the project and the landscape architecture work carried out by the team from Central de Arquitetos".
He highlights that "the project also had a great engineering challenge, involving intensive excavation work in a solid rock up to seven metres deep. The ability of the architecture and specialties team, combined with an excellent builder, ensured the creation of a remarkable quality project, translated today in a sustainable structure, with superior finishes and a high level of energy efficiency".
The project "will be financed with own capital" and where the volume of transactions "can reach the value of 32 million euros". Osquared will allow "flexible payment terms" and down payments starting from 10% of the value of the property.
The person in charge said that the project will be officially presented in the second half of March.
In parallel, Osquared already has three real estate projects concluded in Porto, all of which have been sold. It is negotiating several acquisitions in the area of Porto, Vila Nova de Gaia and Maia, totalling 63,000 square metres, following its expansion plan in Portugal planned until 2026. The company wants to be "a reference and leading real estate developer in Portugal, building timeless and high quality projects".
