The ‘shortage of affordable housing on the market’ jas led to the creation of a new company specialising in this area by Arrow Global (the British fund which, among other assets in Portugal, owns tourist developments in Vilamoura).
In partnership with Portuguese real estate group GFH, the newly created company in Arrow’s universe, Nexor, “already has projects in the pipeline to build more than 500 flats in the metropolitan areas of Lisbon and Porto over the next two years, and is also targeting the Algarve, another of the regions with the greatest shortage of affordable housing”, writes Expresso.
“The aim is to have around 2,500 affordable homes for delivery by 2030, depending on the opportunities that may arise in the acquisition of land,’ says João Moreira, Nexor’s chief executive.
In the first phase, the company is preparing to build 366 flats in Gaia, in the Lavandeira area, as well as 168 flats in Nova Azeda, in Setúbal, to which 95 will be added in Amadora.
