“Revolution” of construction in the luxury market
Yard Properties, owned by Israeli businessman David Rabbi, 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 development company said its first development, on Avenida 5 de Outubro, in the capital, has its structure completed and “construction is expected to be completed in February 2023”.
“The property offers 18 luxurious apartments, with two and three bedrooms, as well as a superb 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 at the time of completion, given the good pace of sales and witnesses of demand” from domestic and international buyers.
In addition, Yard Properties has “two new residential projects under evaluation whose total investment amount will amount to 71 million euros” and plans to release them soon.
“The establishment 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, “over the past 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 witnessing “a a real ‘construction revolution'”.