What led your pan-European company to venture into the Portuguese market?

There are several factors behind our entry into Portugal. Firstly, we have a strong belief in the country itself. The exceptional quality of life, social stability, robust telecommunications infrastructure, and the potential for increased productivity, along with well-developed transport and logistics systems, were all appealing. Additionally, there’s a genuine commitment from authorities and the government to continually bolster the country’s strength and attractiveness.

From a real estate development perspective, especially post-financial crisis, Lisbon faced a dearth of new, high-quality, and affordable housing for the local populace. We chose to focus on areas beyond the city center, particularly the city ring, where opportunities to create projects catering to the middle to upper-middle domestic market were more abundant. In 2019, we acquired land near Praca de Espanha to launch our premium residential project, DUUO, in collaboration with Compagnie Du Bois Sauvage, an investment holding company. DUUO isn’t just about residential development; it’s a holistic living experience, prioritizing the wellbeing of our clients.

Beyond the opportunities, what challenges do international investors encounter in Portugal?

The primary risk in Portugal doesn’t stem from the market itself but rather from the rigid processes, particularly in urban planning. Progress is evident, albeit at a slow pace. If I could offer a suggestion to authorities aimed at retaining international investors, it would be to provide them with more visibility and a comprehensive, long-term view of the fiscal and political agenda.