More than 800 houses under construction in Alta de Lisboa
In a space equivalent to three blocks, with close to a dozen cranes in the background, several residential buildings take shape in the southern part of Alta de Lisboa, on the journeys to Parque Oeste.
In total, more than 800 apartments are being built or being finished, making the area one of the largest construction sites simultaneously in Lisbon. “For 2022, we plan to sell a few more plots of land to external developers, which will make it possible to build around a thousand more apartments over the next three years”, says Miguel Lobo, commercial director of the Alta de Lisboa Management Society (SGAL), the company that has 37 years old with 300 hectares in that part of the city. The expected cash inflow is in the order of €70 million, and the lots to sell will leverage a total investment estimated at around €300 million. “Our rules are cautious. For 2023, it could be the same, but nothing is closed ”, adds the head of the company 100% owned by Macau Tourism and Entertainment Society (STDM), controlled by Stanley Ho’s family.
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