Reward Properties, a joint venture between Neworld – a European-domiciled property development company established by renowned South African property development specialist, John Rabie, and RE Capital – a Geneva based property investment, development and asset management business headed up by Newman Leech, has teamed up with Pam Golding International to launch an exciting property redevelopment project in one of Lisbon’s coolest live, work, play neighbourhoods, tipped to be the Portuguese capital’s next big tech hub.
Chris Immelman, Dr Andrew Golding and John Rabie
John Rabie has four decades of experience in bringing to market numerous successful projects which have created sound return on investment for home buyers across various sectors of the market, while Newman Leech has a successful real estate investment track record in Europe, spanning more than 16 years.
Pam Golding International has been active in marketing property in Portugal over the past five years, having assisted more than 300 South Africans with property investment and with the Golden Visa Programme.
The collaboration between Reward properties and Pam Golding Properties will initially focus on a development in the vibrant, up-and-coming area of Marvila, well positioned on the eastern fringe of Lisbon between the modern business district of Parque das Nações (Park of Nations) and Lisbon Old Town. The redevelopment project is housed in an architectural masterpiece of a building which was originally used as a winery, and its historical façade will be retained.
Reward Properties’ first project was LX Living, a €90-million, 150-unit mixed-use development in Amoreiras, a sought-after residential neighbourhood in central Lisbon. It was launched to investors in South Africa and Portugal in 2019 with great success.
The companies have identified the area of Marvila as the next best investment opportunity in Portugal, and possibly in the European Union. The Marvilla* Collection includes Marvilla 1, launched mid-April 2021 in South Africa and comprising 166 residential units in two phases priced from under €250 000. Marvilla 2, with spectacular scenic views over the River Tagus, will launch in 2022, and comprise apartments plus retail space. Skybound Capital, a London headquartered global wealth management business, is the strategic debt funding partner for the development.
Says John Rabie: “Our success has been built on the cornerstone of value and this redevelopment investment offering is another such opportunity, being located in an area which is at the very beginning of an exciting regeneration programme. Developed in consultation with Frederico Valssasina, a world-renowned Portuguese architect, the Marvilla Collection embodies value and appealing lifestyle design in a hip, sexy area – coupled with low interest rates. In addition, The Marvilla Collection will offer a furniture package and rental scheme with the guarantee of a 4% return for two years.”
The area of Marvila is strategically positioned between Expo and the downtown river front of Lisbon, and only 10 minutes by car from the iconic Praça do Comércio – a large harbour-facing square, and Parque das Nações on a redeveloped area on the River Tagus - with its new infrastructure, business precinct and green spaces. Plans are currently in motion to revitalise the entire waterfront area.
Says Dr Andrew Golding, chief executive of the Pam Golding Property group: “We are delighted to be a marketing and sales partner in this exciting venture. We have had a friendly association with John Rabie over many decades but this collaboration represents the first offshore joint venture.
“Right now, many South Africans are seeking international jurisdictions for worthwhile investment in property, accessibly priced and with the potential to yield sound capital growth and rental income, and Marvila ticks all the boxes. What adds to Portugal’s high appeal as an excellent investment destination are historically low interest rates, with banks granting loans of between 1% and 2%, which compares favourably with anywhere in the world at present.”
“The Marvilla Collection has all the hallmarks of success when it comes to return on investment potential, coupled with an extremely attractive, luxury residential offering,” says Newman Leech. “The redevelopment is in a sought-after district which embraces creativity, technology and the arts, and offers great value and high demand for rental accommodation, particularly among young couples and creatives, entrepreneurs and remote workers.”
Adds Chris Immelman, who heads up Pam Golding International: “What will resonate with any investors looking to diversify their portfolios to include international property, is that this development is personally endorsed by real estate industry icons, Newman Leech, John Rabie and Andrew Golding, all of whom have a wealth of experience in developing iconic brands.”
Writer : Gaye de Villiers
