A New Luxury Development in Caxias
The 'One Lush' project in Caxias, Oeiras, is the latest ambitious endeavor by Noronha Sanches, representing a €22 million investment that introduces 35 premium apartments to the market. The project is designed by the renowned Brazilian architecture firm Bernardes Arquitectura, known for its unique designs.
Unique Features and Vision
Each apartment is crafted to provide a distinctive living experience, featuring gardens, balconies, and terraces filled with greenery, ensuring residents feel as if they are on a permanent vacation. Located just 15 minutes from Lisbon, the project aims to offer a serene atmosphere, blending luxury with nature.
Strategic Expansion Plans
Noronha Sanches is not stopping at 'One Lush'; they are currently developing eight diverse projects, ranging from exclusive small units to large mixed-use developments. Notable ongoing projects include a new hotel in Príncipe Real and several luxury residences in Estoril.
Embracing Partnerships
The firm emphasizes the importance of collaboration in a market traditionally focused on individualism, having successfully partnered with Habitat Invest in multiple projects. This approach allows for shared expertise and risk reduction, enhancing the overall project outcomes.
Market Insights and Future Outlook
The Estoril coast remains a highly attractive area for development, with increasing prices and a demand for high-quality tourism products. The company aims to identify unique locations that evoke strong emotional responses from clients, ensuring every project stands out.
Investment Strategies and Trends
The premium residential segment continues to thrive despite economic challenges, with Noronha Sanches stating that the segment remains resilient. Additionally, their newly created Premium Investments Portugal (PIP) real estate fund aims to attract institutional investors, ensuring transparency and shared success across projects.
Addressing Housing Shortages
Despite ongoing developments, Portugal faces a significant housing shortage, needing to build approximately 70,000 homes annually to meet demand. Noronha Sanches believes that real estate promoters can be part of the solution, provided there are supportive policies and incentives for proactive investment.
Pedro Noronha Sanches - Partner and CEO of Noronha Sanches
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