Neworld, a European-based property development company and RE Capital, a Geneva-based real estate investment, development and asset management company, have launched Reward Properties. This new joint venture will offer investors growing investment opportunities in the burgeoning Portuguese residential market. The new venture is also backed by Skybound Capital, its leading financial partner.
Reward Properties will provide investors with access to the developers’ expertise, a range of potential investments, and the developments’ quality. The development value of Reward’s existing portfolio stands at approximately €300 million. Each site selected for project development meets a strict set of criteria to ensure a solid dividend for investors.
According to Reward Properties’ statement, the two companies worked together for the first time in 2019, developing residential and mixed-use projects in Lisbon, with London-based Skybound Capital stepping in as lead financier. The partnership’s first project was LxLiving, a €90 million, 150-unit mixed-use development in Amoreiras, a sought-after residential neighbourhood in central Lisbon, which was subsequently marketed to Portuguese and South African investors with great success.
“Our goal is to create a brand that promotes sustained investor confidence and simplifies our go-to-market strategy. By creating Reward Properties, we have been able to complement our best features. We are excited to embark on this journey together, building a new company that we believe will offer something incredibly appealing to investors. We are proud to have Skybound Capital on board as our strategic financing partner. Their focused approach to customised solutions for businesses allows us to develop tailor-made real estate offerings. In contrast, our focus on the Portuguese residential sector allows our clients to enjoy greater portfolio diversification.
We look forward to working with Skybound Capital to identify even more unique opportunities for our clients,” said Newman Leech, co-founder and CEO of RE Capital.
John Rabie, Founder and Chairman of Neworld, adds, “Following the success of our initial partnership, it made strategic sense for us to commit to a common destination and create a distinctive offering that combines our skill sets, resources, expertise and access to markets – factors that together add significant value for our investors, especially those who may be buying property internationally for the first time. There is no doubt that Portugal is an extraordinarily beautiful country, which has recently undergone a significant infrastructure upgrade. Our investors have access to highly favourable interest rates, as well as rental guarantees and attractive purchase prices.
Besides LxLiving, Reward Properties has two projects under development in its current portfolio, one in the “new trendy neighbourhood” of Marvila, in Lisbon, where a total of 300 flats will be built over the next four years, and another in the Algarve, in the luxurious “Golden Triangle”, which will add 43 villas to the company’s portfolio.
