Maleo Offices Announces €4 Million Investment in Lisbon Residential Project
The flexible office space provider Maleo Offices has announced its entry into the residential real estate market with a new venture, Maleo Living. The company will invest €4 million in its first project, a 38-unit apartment building in the Lumiar district of Lisbon, specifically targeting the corporate rental market. The development is a strategic response to the housing challenges faced by the international and local employees of its corporate clients. Nishel Rajani, CEO of Maleo Offices, stated that the project aims to provide a solution for the significant difficulties their clients encounter in securing temporary housing for staff in Portugal. The project is scheduled to commence by the end of this year.
The new building in Lumiar will feature 38 one and two-bedroom apartments, all designated for rental. The project specifications detail a phased rollout, with an initial 10 to 12 units marking the first stage of development. Rajani emphasized that Maleo Living is intended to be a 'disruptive product,' creating a new category of housing that is distinct from co-living, just as their office solutions are differentiated from traditional coworking spaces. The total investment for this first project is pegged at €4 million, with completion expected by the end of the year. This move marks a significant diversification for the company, which has primarily focused on flexible office centers.
The construction timeline indicates a swift development process, with the initial phase set to begin before the close of the current year. The project will be developed from the ground up, designed to meet the specific needs of professional tenants. The architectural plans focus on creating modern, functional living spaces suitable for temporary or medium-term stays. The choice of Lumiar as the location is strategic, offering excellent transport links and proximity to business centers, making it an attractive area for the corporate demographic the project aims to serve.
The design of the 38 apartments will cater to the standards expected by employees of multinational corporations. The building will feature modern amenities and high-quality finishes. Rajani's vision for Maleo Living is to offer a seamless housing experience that complements the flexible working solutions provided by Maleo Offices. The project's design will incorporate features that support a professional lifestyle, potentially including dedicated workspaces within the apartments or common areas, high-speed internet, and other services tailored to corporate tenants.
The financing for the €4 million project is being handled internally by Maleo, which has demonstrated strong financial performance in Portugal. Since its arrival in the country five years ago, the group has invested over €10 million, including more than €2 million in the first half of 2025 alone. The company's established relationships with major international clients such as Visa, Salesforce, Amgen, and Bain & Company provide a solid foundation for this new residential venture. These corporate partners represent a built-in market for the new apartments, reducing the initial leasing risk for the project.
No specific regulatory hurdles have been announced, and the project appears to be moving forward under standard planning permissions for residential construction in Lisbon. The company's statement suggests that all necessary approvals are being secured in a timely manner to meet the projected start date. The project aligns with the local municipality's efforts to increase housing supply in Lisbon, particularly for the rental market, which has been under significant pressure.
The development is expected to have a positive local economic impact by providing much-needed housing and contributing to the local construction economy. While the project itself is not on a massive scale, it represents a model that could be replicated, potentially leading to further job creation in the future. The primary impact will be on the local rental market, offering new, high-quality options for a demographic that often struggles to find suitable accommodation.
There is significant market interest in this type of targeted residential product. The demand for high-quality rental apartments in Lisbon, especially those catering to corporate and international tenants, far outstrips supply. Rajani noted, 'We are creating this concept because the world is facing a housing problem and we believe that companies have a fundamental role to play in helping to solve this problem.' This sentiment reflects a clear understanding of the current market dynamics in the Portuguese capital.
The project will require standard infrastructure and utility connections for a new residential building in an established urban area like Lumiar. The location benefits from existing public transport, roads, and municipal services, which simplifies the development process. The building will be connected to all essential utilities, ensuring a high standard of living for its future residents.
Maleo Offices is committed to high-quality construction standards. The methodologies used will be in line with modern building practices in Portugal, focusing on durability, energy efficiency, and tenant comfort. The company's reputation for providing premium office spaces is expected to carry over into its residential projects, ensuring a high-quality final product that will be attractive to its target market of discerning corporate clients. Monitor new development opportunities at realestate-lisbon.com.
