29 April 2025
New Acquisition in Lisbon for MIMCO Group with the Conde Redondo Project
Published
29/04/2025

MIMCO Group has announced the acquisition of the Conde Redondo real estate project, located in the heart of the highly sought-after Santo António district in Lisbon. This office-to-hospitality conversion is fully aligned with the Group’s pan-European development strategy and marks its third investment in the Portuguese capital, following the Praça do Comércio and Santos Townhouse projects.


 


An Ambitious Conversion in the Heart of Lisbon


The Conde Redondo project involves the complete transformation of a former office building into a high-end serviced residence comprising 37 fully equipped apartments, retail spaces, and underground parking. Already authorized for office and service use, the building only requires a construction permit, with work expected to begin in Q2 2025.


 


A Rare Asset Combining Location, Yield, and Visibility


Portugal has experienced a strong rebound in tourism since the pandemic, welcoming over 30 million visitors in 2023. In Lisbon alone, the number of tourists increased by 4% between 2023 and 2024. Ideally located near Avenida da Liberdade and Marquês de Pombal Square—areas with high real estate appreciation potential—the asset will benefit from excellent public transport access and an attractive environment for both business travelers and tourists.


Once completed (targeted for Q2 2026), the asset will be sold as a block to an institutional investor.


A Strategic Partnership


The Conde Redondo project is being developed in partnership with seasoned players in the Portuguese real estate sector, with whom the Group has already collaborated on the Santos Townhouse project.


This new acquisition reflects our commitment to pursuing a targeted investment strategy focused on high-potential European cities, leveraging trusted local partners and high value-added assets.
Christophe Nadal, Co-Founder and CEO of MIMCO Group.

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