The purchase of a plot of land with a building area of 25,655 m2 from SGAL – Sociedade Gestora was finalized at the end of February and the total amount of the investment is around 70 million euros, said Sérgio Frade, administrator in Portugal from Qriar City, to Expresso. With an investment of 45 million euros in construction, the call for tenders for the choice of contractor will be launched in the first half of the year, in order to allow the start of work in early 2023.
Before moving to Alta de Lisboa, Qriar City, which arrived in Portugal in 2018, developed two projects. “They were the test of how the construction and licensing processes are in Portugal. The one in Oeiras is for new construction and the one in Faro for rehabilitation,” he explains, adding that all the houses in Oeiras are already finished and that the works in Faro have just started.”We intend to continue carrying out medium and large-scale projects in Portugal and the group has the capacity to carry out between a and two projects per year on the scale of Alta de Lisboa”, admits the manager.
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