Reward Properties – a joint venture between Neworld, a European-domiciled company established by 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 a new redevelopment project in Lisbon’s Marvilla district.
The Marvilla Collection is housed in a prime architectural building originally used as a winery, of which the historical façade will be retained. The companies have identified the area as the best investment opportunity in Portugal currently, as it is projected to be the capital’s next important tech hub. Launched mid-April in South Africa, Marvilla 1 comprises 166 residential units priced from under €250,000 (±R4,3m) in two phases. Marvilla 2, with scenic views of the Tagus River, will launch next year and consists of apartments and retail space
Skybound Capital, a global wealth management business with its headquarters in London, is the strategic debt funding partner for the development. “Developed in consultation with renowned architect Frederico Valsassina, the Marvilla Collection embodies value and an appealing lifestyle in a trendy area,” says Rabie. “In addition, it will offer a furniture package and rental scheme with a 4% guaranteed return for two years.”
The Marvilla area is on the eastern fringe of Lisbon, 10 minutes by car from the iconic Praça do Comércio – a large harbour-facing square. Plans are currently in motion to revitalise the entire waterfront area. “We’re delighted to be a marketing and sales partner in this exciting venture,” says Andrew Golding, chief executive, Pam Golding Property group. “We’ve had a friendly association with John Rabie over many decades, but this collaboration represents the first offshore joint venture. 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. Marvilla ticks all the boxes. What adds to Portugal’s appeal is a historically low interest rate, with banks granting loans of between 1% and 2%, which compares favourably with anywhere else in the world,” Golding says.
“The Marvilla Collection is in a sought-after district that embraces creativity, technology and the arts, and offers great value for rental accommodation, particularly among young couples and creatives, entrepreneurs and remote workers,” adds Leech.