The O'Living residential development, developed by Mexto Property Investment (Mexto) and signed by the Saraiva e Associados architecture studio, is attracting many Portuguese buyers. This is a project located next to Parque das Nações, in Lisbon, which will have a total of 86 flats, of T1, T3 and T3 duplex types, and around 75% of which have been sold, Miguel Cabrita Matias, Board Member of the property developer, told idealista/news. "The Portuguese continue to be the mainbuyers and account for around 85% of total sales," he says.
The project consists of two housing and commercial plots with 43 flats on each plot, spread over eight floors, and five commercial spaces, he said, emphasising that the first phase of the development has been sold: "At the moment we are marketing the second phase, which already has 50% of the flats sold, so at the moment we have around 75% of the flats sold in the whole development."
According to Miguel Cabrita Matias, O'Living, which came off the drawing board after an investment of 30 million euros, should be completed by the beginning of 2024. "There were some delays due to technical issues that forced us to postpone the planned completion date, but these have since been resolved," he explains.
As for prices, Mexto's Board Member reveals that on average they don't exceed 5,000 euros per square metre (m2), with flats ranging from 64 to 206 m2. "O'Living is the result of the shareholder's desire to develop a project for the Portuguese, as we believe we can have our brand in this segment, developing quality projects (...). The success can be seen in the volume of sales made on the national market," he adds.
This is, incidentally, Mexto's only project in Portugal aimed at the national middle, middle and upper classes, with the luxury segment being the developer's core business. Miguel Cabrita Matias stresses, however, that the company is always analysing investment possibilities.
According to Mexto, all the O'Living flats benefit from underground car parking, with space for 128 vehicles and a bike rack, among other amenities.
"O'Living stands out for the quality of the architectural design, as well as the concern we had for sustainability and energy efficiency," concludes Miguel Cabrita Matias, emphasising the fact that the quality of construction is present in all the company's projects.
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