Can you provide insight into Krest’s origins and its current presence in Portugal?

Krest stemmed from our family’s textile raw materials business, which led us to venture into building our warehouses, igniting our foray into real estate. Our journey commenced in Belgium, pioneering the creation of the largest office park at a time when this sector faced skepticism.

How do you perceive success in real estate projects in the present-day context of Portugal?

The key lies in balancing traditional construction methods with contemporary environmental demands, an area where Portugal still has room for growth. We emphasize sustainability in our projects, integrating green spaces, waste management systems, and measures for minimal carbon emissions. An exemplary instance is our residential project in Paço de Arcos, designed with features like vegetable gardens and geothermal systems.

Comparatively, how challenging is the licensing process in Portugal versus other jurisdictions like Belgium?

Both Portugal and Belgium share licensing challenges with complex and protracted processes. In Belgium, we’ve encountered stagnation with a Brussels project due to bureaucratic hurdles, while in Portugal, municipalities complicate processes out of resource limitations and reluctance toward new developments. However, Portugal offers assurance that projects will eventually conclude, unlike Belgium.

With a diverse portfolio in Portugal, where do you currently perceive the most promising opportunities?

Initially, investing in Lisbon’s office market seemed unconventional, given the surplus of unoccupied spaces. Yet, this decision proved fortuitous with the arrival of major companies like Google and Microsoft, significantly elevating stakes and returns. Jardim de Miraflores, another overlooked residential development, gained substantial interest later. Presently, our project in Alcochete, spanning 450,000 square meters across the riverbank, is an exciting endeavor, leveraging the remaining landbank in our portfolio.

Looking ahead, what are Krest’s aspirations and particularly exciting objectives?

We aim to focus on residential developments, addressing the market’s need for affordable housing, as 70% of our clientele comprises Portuguese individuals. Yet, our primary goal is embedding sustainability as a standard practice in the market while finding ways to mitigate the associated construction costs. This is crucial for our future trajectory.