Made-to-measure dream homes for the Portuguese are hitting the market.

Imagine a brand new flat, with panoramic balconies, a specific area for teleworking and all en-suite bedrooms. Outside the house, but still in the building, a private garden for residents only as well as a multipurpose room that can be a place to celebrate children’s birthdays or a coworking area for those who can’t concentrate on working at home. A dream house adjusted to the pandemic times and that characterises well the new product that is now starting to appear on the market, at prices for the national middle/upper middle class.

 

 

 

At Jardins Efanor, in Matosinhos, the prices of the houses start at 150 thousand euros
Located in Matosinhos, at the epicentre of a series of Sonae projects (such as Norte Shopping or Porto Business School), the Jardins Efanor development has already completed the first building (of several that will be built in a total of 400 houses) with 62 flats and prices starting at 150 thousand euros for studio flats. Around 75% have already been sold, most in the middle of the pandemic.

“We have not felt any negative impact due to the current situation, quite the opposite… Taking into account the project’s characteristics, currently highly valued, such as the 28 m2 balconies or the 28,000 m2 of private green area, we have registered even more demand,” says Sandro Mota Oliveira, CEO of Invest&Co, a company specialised in the management and development of real estate assets and which is doing the coordination of Jardins Efanor, a development of the developer Prédios Privados which acquired the land from Sonae.

With the pace of sales encouraging investment, the company is preparing to launch the second building soon. “We are still defining the typologies but this second building will have 145 more units and we expect to start construction in the middle of this year. We believe that the market will continue to be interested in this type of product”, added the head of Invest&Co, adding that the Portuguese represent 80% of the sales of the first building.

Hotels converted into housing

Less than half an hour away from Matosinhos, more specifically in Gaia, the Fortera group, of Israeli capital, will launch the Skyline, a mixed project that will include a hotel (with more than 200), a residential building with more than 50 units and also an office and commercial area, in a global investment of 80 million to be applied during the next two years. But that’s not all. Still shrouded in secrecy is another mega-project, also in Gaia, aimed at the national market. “We will give more details soon, but this project will have close to 350 flats and is located not far from SkyLine, and it is all aimed at the middle class,” says Elad Dror, Fortera’s CEO, mentioning that the square metre will be sold at approximately 3200 €/m2.

The group has been unstoppable since it arrived in Portugal and in about five years it has already invested about 200 million euros in a dozen projects, all in the north, between Porto, Gaia, Espinho and Braga. In none of them, guarantees Elad Dror, was felt the effect of the pandemic on sales after the deconfinement.

“Most of our projects are not located in historic centres, nor are they aimed at tourists so we didn’t feel that impact. When we decided to invest in Portugal and the North, our strategy was always focused on the medium and local market and not necessarily on investors, although we have some. We didn’t want to specialise in any other market as we know this one very well”, says Fortera’s CEO.

Although more residual, the group did, however, reserve two properties in its investment portfolio, one in Porto and the other in Braga, which, given their central location, were aimed at the hotel market. But the pandemic changed the turns for the time being to that plan given the crisis that is now being experienced in that sector.

“We have a building in Braga, the Convento de Braga, which we bought to create a hotel unit and ended up redesigning – it will be more of a ‘service apartment’ (with 70 units) and less of a hotel. And in Porto we have another project, also with around 70 flats, which was also reconverted at the last minute into a residential unit”, says the Israeli manager.

And just as happened with Fortera, there are more and more developers who are counting the cost of their hotel projects.

“Tourism is going to take a little longer to recover and some developers are asking us for our help to transform their projects into flats to sell or to integrate the ‘Built to Rent’ model, in other words, the investor does not sell but rents all the units of that property and lives off the yields. There are more and more projects of this type appearing”, says Patrícia Barão, from JLL, reminding us of a study recently carried out by the consulting firm and which shows several projects of this type that will place on the rental market approximately 3,000 new homes, at controlled costs, in the next five years.

Imagine a brand new flat, with panoramic balconies, a specific area for teleworking and all en-suite bedrooms. Outside the house, but still in the building, a private garden for residents only as well as a multipurpose room that can be a place to celebrate children’s birthdays or a coworking area for those who can’t concentrate on working at home. A dream house adjusted to the pandemic times and that characterises well the new product that is now starting to appear on the market, at prices for the national middle/upper middle class.

Green and sustainable real estate: pandemic accelerates trends and drives new demand patterns.

Sustainability in construction is no longer just a flag, but a necessity and a condition for doing more and better business.

At a time when environmental issues and the ecological footprint are increasingly present in the lives of people and companies, sustainability is also a decisive factor in construction and real estate. More energy-efficient designs and better quality buildings are wanted – and in some cases these requirements are no longer just a necessity, but a condition for business. The pandemic has accelerated these challenges, with evidence in the demand for homes with larger outdoor and indoor areas, and in a new reality where green and outdoor spaces have become the ‘holy grail’ of times of confinement.

How are companies responding to these challenges? How important is sustainability in real estate projects? And how is the industry adapting to the changes? The third webinar TEKSIL 2020, promoted by Tektónica – Feira Internacional de Construção e Obras Públicas and Salão Imobiliário de Portugal (SIL), held this Tuesday, 30 June 2020, and dedicated to the theme “Green and Sustainable Construction and Real Estate”, brought together several players in the sector to discuss these and other issues, with the support of idealista/news.pt.

 

 

Sustainability from the “zero” moment

But how can one guarantee, in practice, that a project is sustainable? The manager once again gives the example of Tróia where, for example, when the two towers were demolished at the beginning of the project, 95% of the materials were used in the new construction.

In practice, the sustainability vector has to be present from the very beginning of the real estate development, “through the certifications attributed, the materials and equipment used”, as explained by Sandro Oliveira, CEO of InvestCo – who is developing Jardins da Efanor in Porto, one of the largest projects currently underway in the country. According to the responsible, the sustainability “step” has to be taken in a very embryonic moment of the project, in the architectural and design phase, and that “this thought has to be transverse, in an aesthetic, mobility, cost and construction aspect”, in order to give guarantees to the clients about the housing product they are buying.

Full report – Idealista – Efanor Gardens

Jardins Efanor

Um dos maiores projectos imobiliários do país termina primeiro edifício

 

É um dos maiores projectos imobiliários em construção em Portugal. Fica no Norte do país, em Matosinhos e mesmo em tempo de pandemia as obras continuam. Nos Jardins Efanor, o promotor imobiliário Grandavenue72 vai investir cerca de 250 milhões de milhões de euros até 2025. Em 2017, a Grandavenue72 à Prédios Privados, um dos activos de maior valor no portefólio imobiliário da Sonae Capital, pelo valor de 30 milhões de euros. Cabe à Invest&Co promover e coordenar todo o desenvolvimento e entrega do projecto chave na mão, nos segmentos empresarial e particular.

Em entrevista ao Diário Imobiliário, Sandro Oliveira, CEO da InvestCo, admite que sentirão em alguns segmentos, o impacto decorrente da pandemia. Apesar de não saber as verdadeiras consequências, acredita que o produto e o país irão continuar a atrair investidores.

        
 

Notícia na íntegra no Diário do Imobiliário.

The new city that will be born next to NorteShopping

One year after reporting that it paid 30 million euros to Sonae Capital to stay with Prédios Privados, Grandavenue 72 now unveils the real estate project that it intends to develop in the so-called Efanor subdivision: until 2025, the company led by Pedro Couto, from Telhabel – which also includes investors Gonzalo Alvargonzalez Figaredo (Spanish) and Daniel Klein (Swiss) wants to build a city there, inside the city of Matosinhos. To do so, he commits to invest 250 million euros in all.

This new project of 105,000 square meters (m2) – which contemplates 10 buildings, in which 60% of the area will be directed to the residential segment with 400 apartments and 40% to the tertiary sector, and the construction of a hotel unit is also planned – aims to use an extensive abandoned area, located next to NorteShopping, where the late leader of Sonae, Belmiro de Azevedo, even conceived a real estate complex that was frozen in the crisis years.in the one that designates the first Edge City

What is called the first Edge City in Portugal “is certainly the largest real estate project underway in the North and perhaps in the country and we want the Efanor Gardens to be a privileged space for coliving and coworking, following the new trends of urbanism, as a modern space with access to all sorts of skills, from residence, work, health, shopping, education, hypermarket,” says Pedro Barros Rolo, partner of Invest&Co, the company responsible for coordinating the project.

 

Invest&Co

Half of the Delfim Pereira da Costa Building is already reserved

The mega project Jardins Efanor, according to this company in a press release, is in the pre-sale phase, with 50% of the properties already reserved. By the end of the first quarter of 2020, more than 60 apartments will be available, both 3 and 4 bedrooms.

These first 62 apartments, as the idealist/newsletter advanced in August, correspond to the Delfim Pereira da Costa Building, which started at the end of 2009 and was part of the Efanor residential condominium – a Sonae project that foresaw the construction of 700 fractions but was unfinished due to the crisis.

Invest&Co

In addition to maintaining the designation – given in honor of the founding entrepreneur of Empresa Fabril do Norte (Efanor), which Telhabel decided to maintain – the Delfim Pereira da Costa Building also maintains the architectural project by Alcino Soutinho, who died on November 24, 2013.

The building, with a floor and four floors, with four independent entrances, now has “several housing proposals”. “Since the T0, T2, T3 – with areas of 156 m2 (example of fraction on floor 3, block B) – and T4 – with 196 m2 (floor 3, block A) – some with a micro-office, or in duplex, with swimming pool and terrace, on the roof”, highlights the current brochure.

The prices of the fractions range from 476 thousand euros, in the case of T3, and 599 thousand euros, in the case of T4, with average prices of about 3,000 euros per m2 (300,000 euros per 100 m2).

Invest&Co

Grandavenue invests 250 million in project in Matosinhos

Grandavenue is building “Efanor Gardens”, a mega project that will include 400 apartments, a senior residence, a university, a hotel and a business center.

In Matosinhos the first city within a city will be born. It seems confusing, but when the project is completed it will be easier to see. This is because Grandavenue will invest 250 million euros until 2025 in “Jardins Efanor”, a mega project with 120,000 square meters that will include services, commerce, hotel and residential area. And half of the apartments are already booked.

In 2017, Grandavenue bought this 104,000 square meter plot from Sonae Capital, and at the time paid 30 million euros for the most valuable assets in the company’s real estate portfolio. But, as Expresso (paid access) has advanced, the total investment will be much higher. The idea is to build the first edge city in the country and the location chosen was Matosinhos.

Maquete do projeto residencial Jardins EfanorD.R.

The project is already in pre-sale and will be 60% residential, in a total of 400 apartments. By the end of the first quarter of 2020 more than 60 apartments will be available, 3 and 4 bedrooms, 50% of which are already booked, Grandavenue said in a statement.

In addition, 40% will be services: NorteShopping shopping centre, Continente supermarket and Efanor school will be joined by a senior residence, a student residence, a hotel and a business centre (which is already active).

“This is our biggest real estate project in which we will respect all the legacy left by the Azevedo family, through its Foundation [the project had already been thought by Belmiro de Azevedo]. We want Jardins Efanor to be a coliving and coworking space with a superior quality of life”, says Pedro Rolo, CEO of Invest&Co, the company that will be responsible for the project.

“With about 50,000 square meters of green area, they follow the new trends of urbanism, as a privileged area based on the concepts of mobility and sustainability,” he says.

Eco Sapo Online – Jardins Efanor

New owner will invest 250 million in the construction of the city of Belmiro de Azevedo

Jardins Efanor” is the real estate project that will be born on land known as “Loteamento Efanor”, as it is located in an area once occupied by the plant where Belmiro de Azevedo (who died two years ago) began working and which was at the genesis of the Sonae empire, giving even its name to the Azevedo family holding company.

One year after the announcement of the acquisition of the plot of land from Sonae Capital for 30 million euros, the company Grandavenue72 announced this Monday, November 11th, that it will invest, until 2025, around 250 million euros in the “largest city within a city in Portugal”, as described in the project that will finally make use of an extensive abandoned area, located next to NorteShopping, in Matosinhos, where Belmiro de Azevedo even conceived a real estate complex that was frozen in the crisis years.

To be developed in a total area of 120 thousand square metres, “Jardins Efanor” will include services, commerce, hotels and a residential area (60% of the total) with 400 apartments.

“This is our biggest real estate project in which we will respect all the legacy left by the Azevedo family, through its foundation. We want the Efanor Gardens to be a ‘coliving’ and ‘coworking’ space with a superior quality of life. With about 15 thousand square meters of green area, they follow the new trends of urbanism as a privileged area based on the concepts of mobility and sustainability”, says Pedro Rolo, CEO of Invest&Co, the company responsible for managing the project, in a statement.

According to Invest&Co, the Jardins Efanor project “is in the pre-sale phase, with 50% of the properties already reserved”, foreseeing that “by the end of the first quarter of 2020, more than 60 apartments will be available, both T3 and T4”.

These first 62 apartments correspond to the Delfim Pereira da Costa Building, started at the end of 2009, which was part of the Efanor residential condominium, Sonae’s project which foresaw the construction of 700 apartments, but was unfinished.

Delfim Pereira da Costa was the founder of Efanor (Empresa Fabril do Norte).

With prices around three thousand euros per square meter, a T3 (156 m2, 20 m2 balcony and private garage) costs 475 thousand euros, reaching 670 thousand euros if there is a pool on the roof.

It is the first project to advance from a set of six buildings planned.

The developer of this real estate complex, Grandavenue72, is owned by the Couto family, owner of Telhabel, and two international investors – the Swiss Daniel Klein, owner of Geonosis real estate, and the Spanish Gonzalo Alvargonzalez Figaredo, member of one of the most powerful families in Spain and who owns the maritime-port group Ership.

Jornal de Negócios – Jardins Efanor

The city of Belmiro de Azevedo grows back in the old Efanor

It presents itself as the largest real estate project in the North of the country. It is 105,000 square meters of gross above-ground construction area, plus 50,000 square meters of gardens, ready to absorb a $250 million Grand Avenue investment by 2025. The goal is to give “a new life” to the city that entrepreneur Belmiro de Azevedo (1938-2017) designed for the grounds of Efanor, the factory that marked his debut in the world of work, before taking over the leadership of Sonae, and gave name to the holding company of the Azevedo family.

“We are going to develop a mix-use project, with about eight buildings for housing, offices, hotel, senior and student residences, co-living/co-working”, says to Expresso Pedro Couto, director of Telhabel and one of the partners of the company that bought Sonae’s historical assets a year ago, for EUR 30 million”.

Expresso Online – Jardins Efanor