Barreiro, in the district of Setúbal, will be home to a mega real estate project with more than 500 apartments. The “Nooba” project is authored by the Swiss promoter Solid Sentinel, which will invest up to €180 million on that bank of the Tagus River. The apartments will be T1 to T5 and will have prices “40 percent to 50 percent lower” than Lisbon, guarantees the official.
According to a report by ECO, there will be, in all, 518 apartments, spread over nine buildings. The works on the first two buildings – 127 apartments – will start at the beginning of May and should be ready within two years, said investor Alain Gross, CEO of Solid Sentinel, in a presentation of the project, and the project is expected to be fully completed within six to eight years.
The apartments will be T1 to T5, with areas between 60 and 247 square metres. Prices start at €189,000 euros for a T1, T2 varies between €300,000 and €390,000, T4 between €400,000 and €480,000 and T5 between €480,000 and €500,000. The “crown jewel” will be a T5 with a 280 square metre terrace and private pool, priced at €1.29 million.
Prices are “40% to 50% lower than what you find in Lisbon”, said Alain Gross, stating that he believes that customers will be mainly young people, but also some families. The Swiss promoter's total investment in this project will be between 110 and 180 million euros, said Solid's CEO.
The future owners of “Nooba” will also have access to a swimming pool, athletics track, gardens and leisure areas. Each resident will be entitled to a parking space and the development will also have charging stations for electric vehicles.