Brazilian Developer Magik LZ Targets 'Portuguese Riviera' for European Expansion
The Brazilian real estate development firm Magik LZ Empreendimentos Imobiliários is actively exploring investment opportunities in Portugal, with a specific focus on the high-value coastal area of Cascais and Oeiras, often referred to as the 'Portuguese Riviera'. Ricardo Zylberman, the company's partner and Director of Operations, confirmed his firm's intentions while in Portugal competing in a motorsport event at the Estoril circuit. This move signals growing interest from major South American developers in the prime Portuguese property market.
Mr. Zylberman, a successful entrepreneur who combines his corporate career with a passion for competitive racing, identified the region as a strategic target for expansion. “It is a well-valued location, and it is therefore worth undertaking business in this locality,” he stated. He highlighted Portugal's broad appeal to a diverse international audience, including Europeans, global tourists, and lifestyle-oriented buyers seeking security and a high quality of life, calling it “a special country” for investment. While he refrained from discussing specific project values, his confirmed interest underscores a clear strategic intent to establish a foothold in the area.
Magik LZ is a significant player in the Brazilian market, having registered a General Sales Value (VGV) of €195.6 million in the first half of 2025. The company has a portfolio of successful developments in upscale São Paulo neighborhoods and also operates a brand, MGK, focused on social interest housing. This background suggests Magik LZ has the capacity and experience to undertake substantial projects in Portugal, potentially in the luxury residential sector, given the target location of Cascais and Estoril.
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The executive's frequent travel to Portugal throughout 2025 has been for the dual purpose of participating in the European Porsche Cup circuit and conducting market analysis of the real estate landscape, particularly around Estoril. Mr. Zylberman draws a direct parallel between the demands of the racetrack and the boardroom, emphasizing that “quick decision-making and common sense in situations that require resilience” are crucial to success in both domains. This philosophy is expected to guide his firm's entry strategy into the competitive Portuguese market.
The interest from a developer of Magik LZ's caliber is a noteworthy indicator of Portugal's sustained attractiveness for foreign direct investment in real estate. The 'Portuguese Riviera' continues to be a magnet for international capital, and the potential entry of an experienced Brazilian firm could introduce new projects and further stimulate market activity in one of Europe's most desirable coastal destinations. Mr. Zylberman has already made plans for further racing competitions in Portugal for 2026, which will likely coincide with the advancement of his company's investment and development plans.
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