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VIC Properties has acquired a plot of Matinha, in Marvila, in which it plans to build a business with "more than two thousand new homes," the company said in a statement.
The work is expected to begin in early 2020 and expand over the next few years, according to the company. With this new venture, VIC Properties will connect Parque das Nações to Plata Riverside Village, another project of the company, "continuing its mission to requalify a part of the city that has been stagnant for a long time," the company said. . Together, the Silver Riverside Village and the Matinha project will bring 2,700 new homes in Lisbon.
According to João Cabaça, co-CEO of VIC Properties, "this company is also responding to the shortage of new housing in Portugal, a problem that has a greater impact on the city of Lisbon".
The acquisition of an area of about 20 hectares, of which 260 000 square meters are intended for construction, was closed by a public deed.
Based in Lisbon, the company is a fully integrated real estate platform covering the entire value chain of the construction process. Last April, VIC Properties finalized the issue of EUR 250 million of secured pre-secured convertible bonds in connection with a transaction prior to its admission to the stock market.
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