"Campo Novo" redefines the neighbourhood concept in Lisbon
LISBON, Portugal, Oct. 14, 2022 /PRNewswire/ -- NORFIN has presented Campo Novo, a new concept of a Lisbon neighbourhood that promises to be a pioneering zone of attraction in the city centre, blending the traditions of Lisbon's neighbourhoods to the modernity of a contemporary city. This new concept involved an investment of around EUR 300 million, mostly paid by the American alternative global investment company King Street Capital Management, and the Arrow Global Group.
The property development will cover 80,000m2 of above-ground construction space split into three residential condominiums, four buildings for offices and commercial premises, as well as 20,000m2 of gardens. Campo Novo benefits from a uniquely central location, expanding the main avenue of the capital, linking to the various reference points via cycle tracks, metro lines, railways and roads.
According to Norfin CEO Francisco Sottomayor, "this is a historic project given its magnitude and because it will bring a new neighbourhood concept to Lisbon, a residential, business and commercial zone that will bring a centrality to Campo Grande of living in a huge square."
Residential
With a total gross area of 30,300m2, the three condominiums shall contain 245 apartments of various types and shall be exclusive condominiums furnished with private gardens, a swimming pool, rooftop, co-working rooms, a kids' club, gym, direct access to the commercial zone and chargers for electric vehicles, with prices starting at EUR 380,000.
Offices
Campo Novo positions itself as the continuation of Lisbon's Central Business District, aiming to attract companies seeking state-of-the-art, sustainable offices that include the full range of amenities. The project covers a gross area of 37,600m2 spread over four buildings with Leed Gold certification, and rooftops measuring 450m2.
Retail
Covering an area of 12,100m2, the commercial zone is connected to the residential and business areas and incorporates 18 shops, 15 restaurants, 7 kiosks and 1 supermarket, and shall be a meeting point for everybody living, working or visiting Campo Novo, by combining quality, proximity and convenience.
ABOUT NORFIN
NORFIN is one of the Portuguese benchmarks in the management of real estate investments. It is part of the Arrow Global Group and directly manages approximately EUR 1.6 billion of assets in funds or companies holding its institutional capital, with a high diversity of profiles and strategies.
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