Houses with “a new concept of luxury and balanced prices” to be developed in the old Antas stadium.

The first phase of construction of the Antas Atrium is about to start and sales are underway. Quantico CEO shares details with idealista/news.

It was with a focus on resolving the ‘enormous’ problem of the lack of new housing for the middle class that the joint venture of Quantico/Albatross Capital designed Antas Atrium: a residential development that will begin construction between May and June of this year. This real estate project will give new life to the land that was once home to the old Antas stadium in Porto.

“This project will be a milestone in the city of Porto,” believes Carlos Vasconcellos, CEO of Quantico, in a written interview with idealista/news. Adding that, in this first phase, the construction of the south corner of the land is planned at the intersection between Rua Losa and the imposing Alameda das Antas on a plot of 4,000 sqm. This is where 168 apartments of various types will be built, from T0 to T4, with one or more parking spaces per unit.

These first homes should be “ready within 24 months”, and their first residents “will be able to settle in as soon as the licence for use is obtained”, guarantees the president of Quantico. The second phase should start “a few months after the first, and should be built in parallel”, explains Carlos Vasconcellos, detailing that: “a project of this scale foresees a construction time horizon of 6 to 9 years”.

“The Antas Atrium development represents a total investment of €240m and aims to place 1,100 new homes on the market in Porto for both Portuguese and foreign investors looking for an offer of enormous quality, at balanced prices,” Vasconcellos told us, pointing to an average price of around €3,500 sqm. The units, still in the design phase, began to be pre-sold from April 21, 2021. Currently, it is not yet known whether a portion will be placed on the rental market, but the president of Quantico confirms that the possibility is being analysed, not least because, he believes: “There are several operators interested in the yield model, that is, long-term rentals”.

Source: idealista.pt