Savills advised Millennium on the marketing of 12 of the 23 plots. During the last quarter of 2020, the international real estate consultant also helped with the sale of eleven plots to three developers, with a total area of around 60,000 m2. The last plot, with a buildable area above ground of 13,198 m2, was sold to a national investor.
Located in Miraflores, just a few minutes from Lisbon, the land is ideally positioned for residential development. The site is located near to the IC17 road - a dual carriageway that encircles the Portuguese capital.
Nuno Esteves, Investment Development Associate at Savills Portugal, said: “This transaction reinforces the fundamentals for locations on the outskirts of Lisbon, where the price of land is aligned with the price expectations and strategies of developers.
He adds: “Municipalities bordering Lisbon such as Oeiras, Amadora and Loures may particularly benefit from this dynamic and receive increased development interest, leveraged by the key infrastructural projects that are planned for these locations.”