Sonae Sierra and Grupo Casais eye Portuguese BTR market

Sonae Sierra and Grupo Casais are teaming up to build new rental housing projects in Portugal, specifically focusing on factory-built, industrialised construction methods.

Porto

This collaboration brings together Sonae Sierra's expertise in real estate development, asset management, and investor relations with Grupo Casais's strength as a technology and industrial partner, responsible for designing and constructing the buildings efficiently.

The goal of this partnership is to help professionalise Portugal's rental market, which is currently facing high demand.

Their first project is "Carvalhido" in Porto, marking Sonae Sierra's entry into the Portuguese Built-to-Rent (BTR) market. This development will feature around 200 apartments—ranging from studios to two-bedroom flats—built to high standards of quality, energy efficiency, and comfort. It is designed specifically for long-term rental, with Sonae Sierra managing the property and Grupo Casais ensuring its quality and efficient maintenance through industrialised construction.

Factory work for Carvalhido has already started, with on-site construction beginning in April and completion expected by the end of 2027.

The partnership plans to develop multiple BTR projects in major Portuguese urban areas, such as Greater Lisbon and Greater Porto.

Alexandre Fernandes, Director of Developments at Sonae Sierra, said: “The Build-to-Rent segment demands scale, efficiency, and, above all, professional and consistent management over time. It is precisely this combination of skills that this partnership brings to the Portuguese market. Our goal is to establish Sonae Sierra as one of the leading developers and operators of Build-to-Rent buildings in Portugal through the creation of a benchmark portfolio in the main cities.”

António Carlos Rodrigues, CEO of Grupo Casais, added: “This partnership demonstrates our ability to act as a technology partner: we create robust and evolving buildings that stand the test of time, while Sonae Sierra leads the promotion, management, and professional operation of these same assets.”