Krest Real Estate Investments is preparing to begin development on its first real estate project in Porto, 300 meters from Campanhã station, but already has its eyes on new investment opportunities in the city. The debut of the Belgian developer will feature a project signed by the Porto-based architect Souto Moura in the eastern area of Porto, in a joint effort with the Metroube studio. The development combines housing, offices, hospitality, and dining.

According to Krest’s CEO, Claude Kandiyoti, the residential offering planned for Campanhã is intended for the Portuguese portfolio. “The goal is for it to be affordable,” he says. Although he does not reveal the investment value, he assures that others will follow in the city: “The Porto market has potential for more Krest projects,” especially in housing.

The Belgian developer, also present in Lisbon and the Algarve, is committed to “developing new life concepts based on the live, work, and play concept in the same area,” creating work environments where professionals feel at home and quality housing with affordable prices, where it is also pleasant to work, emphasizes Claude Kandiyoti. For this, projects must adhere to sustainability criteria, in line with ESG-Environmental, Social, and Governance, improving mobility and access to education. The idea is to create “new places, regenerating areas outside the city.”

In Lisbon, Krest is building a large-scale luxury development, Jardim Miraflores, which is expected to be fully completed by early 2023. As Claude Kandiyoti explains, there are three residential buildings with private condominiums and a pool, surrounded by gardens, totaling 120 apartments, with an average price of 4500 euros per square meter. In the office segment, the company began construction last month on K-Tower, in Parque das Nações. This tower will have 14 floors and a commercial space on the ground floor, with an area of ​​about 15,000 square meters, and will comply with Breeam sustainable certification requirements. One of the project’s characteristics is the glass facades with dedicated solar protection.

In the capital, Krest has an ambitious plan in the housing sector. According to the company’s CEO, “there are some important projects in development, but it is still a bit early to reveal – we are planning 1000 to 1500 residential units in Lisbon over the next five years.”

In the Algarve, in Quarteira, construction will begin at the end of the year on the Horizon project, a 65 million euro investment. There are two gated residential communities, with pools, private gardens, and terraces, totaling 129 apartments, which are expected to be completed by summer 2024. Also this year, Krest plans to complete the Lakes 24 development in Vilamoura, already 70% marketed.

The Krest group entered the Portuguese real estate sector in 2014, but had known the country for over 25 years due to its origins in the textile industry. The investment portfolio in Portugal amounts to 200 million euros.