The Israeli Taga-Urbanica Group arrives in Portugal through Boutique Imobiliária, with a purchase of four buildings in the city of Porto for rehabilitation. Until 2023 it intends to invest 100 million euros in Portugal.
Real Estate Boutique has been present in Israel for more than three years and "to the trust that has transmitted its portfolio in Portugal", says Shlomi Avni, executive director of Taga-Urbanica. He is also responsible for developing projects in other cities, including London, Berlin and New York, as well as other markets. Portugal is, at the moment, our biggest bet with regard to entering a new market ".
The total investment, including acquisition costs, projects and the rehabilitation of buildings, is around € 8.5 million.
Taga-Urbanica also says that this is only a first round of investments by the group in Portugal. The Israeli group aims to create, in the next five years, a portfolio of around 700 rehabilitated apartments, both in Porto and in Lisbon.
Source: Daily Real Estate - http://www.diarioimobiliario.pt/Actualidade/Grupo-israelita-Taga-Urbanica-vai-investir-100-M-em-Portugal