Located in Avenidas Novas, in Lisbon, just a few metres from Saldanha and Avenida da República, this luxury development represents a “significant milestone in the expansion of the brand, created on Madeira Island”, explains AFA Real Estate in a statement, recalling that, for the first time, the company is leaving Madeira Island, where it already has three projects, and moving into mainland Portugal.

The building, designed by architect Frederico Valsassina, has 11 floors, 59 apartments, five commercial spaces and a car park with 124 spaces. It is already under construction and is expected to be completed in the first quarter of 2026, according to ECO.

According to the general director of AFA Real Estate, Victor de Sousa, the expansion of the company's business in mainland Portugal is a “crucial step” for the company. With this investment, “which exceeds €50 million”, the brand “introduces the luxury real estate concept – Savoy Residence” to Lisbon, the manager highlights.