Real Estate Investor Magazine South Africa June/ July 2019 | Page 59

team. LX Living is set to become the premier residential LX Living Investors will receive a 4% rental guarantee on development in Lisbon.” the purchase price of their apartment for the first two years. GMG Real Estate has enjoyed excellent support over the This guarantee will be available on the smaller units (a total of years from its strategic financial partner Skybound Capital - a 88 apartments) with a price range of €270 000 to €650 000. global wealth management business, providing a diverse and A significant opportunity for South African investors unique range of investment products for family offices, private is the fact they will be able to access end user finance at an clients, advisors and institutions. interest rate of below 2% and loan-to-value of up to 75%. This In London and Lisbon, GMG Real Estate has developed will mean that leveraged yields of well over 8% can be achieved a large and experienced operations team, focused on by apartment buyers. construction, project development and turnkey rental “We want to make it as easy as possible for our investors management services. from South Africa to enter the Portuguese market. We have Rabie has assembled a select team of people who have therefore identified three best of breed service providers in relocated to Lisbon and are now working side by side with the areas of end user finance, golden visa application and tax/ their GMG Real Estate counterparts. accounting services. We will connect our clients with these “We have spent the last number of months getting to grips professionals as and when requested. A good example is the with the market in Lisbon. Our research has confirmed the relationship that we have established with executives of Novo opinion of reputable experts regarding the strong fundamentals Banco. Our investors will be able to engage directly with that are driving the shortage of residential accommodation Novo Banco executives and negotiate the appropriate end in Lisbon. We now understand user finance solutions that meet why these experts have rated their specific needs.” Lisbon as the number one city in An investment of €500 Lisbon has so much to offer. An all of Europe for investment in 000 and above means that the residential Real Estate,” said Rabie enchanting city with a wonderful investor’s family will qualify for The design of LX Living obtaining a Golden Visa and climate, zero crime and plenty includes a range of apartment sizes the achievement of permanent from studios to one, two, three and residency and citizenship for available for the growing tourist four bedroomed units. The mix of the family at the end of a five- units will service both the short market. We feel very confident that year period. and long term rental markets. The The quality of life in we are at the right place at the building includes an impressive Portugal together with the array of amenities including a right time and that we will be able tax incentives on offer are two well-equipped gym, day spa, reasons why the Portuguese to offer our investors the capital Golden Visa offer has received two swimming pools and ample underground parking. The street global interest since its growth and returns that they have much level will encompass 1400 m2 of implementation in 2012. retail space including convenience Rabie explains that advice rightfully come to expect from shopping and restaurants. is readily available for local us over the many years we have potential investors. LX Living is well located in the suburb of Amoireras. There been in the property development “Early signs strongly indicate are extensive public transport that many of our investors want business. links in the area, it is close to the the visa. We are delighted that major coastal roads to the north a senior partner from Edge and south and is only a five-minute walk to the magnificent International Lawyers in Lisbon will be at our launches in Avenida de Liberdade, the heart of upmarket shopping and Cape Town (30 April) and Johannesburg (6 May). Edge are galleries in Lisbon. experts in this area and will be providing a customised service It is also within walking distance of one of Lisbon’s prime to any investors seeking their advice and support during the office markets, the Amoreiras shopping centre, Lisbon’s premier 5year Golden Visa process.” French school and a number of five-star hotels. In addition, plans are well advanced for the construction of a new metro Architecture and amenities station right alongside LX Living which will link the property LX Living has been designed by leading Lisbon-based, with the underground rail system that services the city. global architectural firm Saraiva and Associates. The new Lisbon investment appeal: development will feature clean, modern lines, incorporating • Geo-strategic location: Lisbon is just one to three expansive balconies, roof gardens along with a range of hours from major European cities, and seven hours relaxing spaces. from New York; Owners and tenants will have full access to the fully- • Great climate: Europe’s sunniest capital, with pleasant equipped gym, day spa, swimming pools, underground climate year round; parking, two restaurants, a bar, rooftop garden along with a • One of the world’s most scenic cities, from its seven deck, lounges and various meeting spaces High-speed Wi-Fi hills to the Tagus River; will be available throughout the building. • Financial Times ranking in Top 10 European cities For sales information, contact: with greatest potential; Anton McElhone on 083 506 7829 or [email protected] • Environmental commitment: 64% of electricity from Michael McElhone on 064 756 4960 [email protected] renewable sources; • Host to numerous international events; and • Growing tourist magnet: 10,18 million foreign RESOURCES visitors in 2018. “ “ New World SA Real Estate Investor Magazine JUNE/JULY 2019 57