Sonae Sierra and the Casais Group have entered into a partnership to develop Build-to-Rent (BTR) projects in Portugal, based on industrialised construction modules. This partnership brings complementary skills across the entire real estate value chain together. While Sonae Sierra will take the lead on development strategy, asset management and investor relations, Casais Group will be at the helm of technology and infrastructure, responsible for the design and construction of assets based on a modular industrialised construction system.
Against a backdrop of intense pressure on the housing market, the partnership aims to establish a professional approach to the residential rental sector in Portugal. This collaborative approach will result in projects focused on creating long-term value that meets high standards of quality, sustainability and efficiency.
The partnership stems from the convergence of two areas of excellence which, together, will raise the bar as regards residential development in Portugal. Casais Group brings a wealth of expertise in industrialised, modular and sustainable construction, supported by innovative building systems that ensure predictability, efficiency and a high degree of environmental performance. Sonae Sierra contributes its acknowledged expertise in property development and asset management, a reputation consolidated owing to decades of experience in several international markets.
“The Build-to-Rent sector demands scale, efficiency and, above all, professional and consistent management over time. It is precisely this combination of skills that our partnership brings to the Portuguese market. Our aim is to establish Sonae Sierra as one of the leading developers and operators of Build-to-Rent properties in Portugal by creating a portfolio of flagship properties in the main cities,” said Alexandre Fernandes, Head of Developments at Sonae Sierra.
“Our strategic role involves providing the technical and technological infrastructure that enables institutional developers to deliver the best assets to the market,” said António Carlos Rodrigues, CEO of the Casais Group. “Industrialisation allows us to design and build truly long-term residential infrastructure, offering greater predictability, a lower risk of obsolescence and exceptional energy performance. This partnership demonstrates our ability as a technology partner, given that we create robust, adaptable buildings that stand the test of time, while Sonae Sierra heads up the development, management and professional operation of these built assets.”
Carvalhido – the partnership’s first Build-to-Rent project
Carvalhido, located in Porto, is the first project to bring this partnership to life, and marks Sonae Sierra’s entry into the Build-to-Rent segment of the Portuguese market. Set in a well-established urban area, with excellent transport links and proximity to public transport, services and amenities, the Carvalhido project comprises around 200 homes ranging from studio apartments (T0) to two-bedroom apartments (T2), built to high standards of quality, energy efficiency and comfort.
Designed from the outset for long-term rental, Carvalhido benefits from an integrated approach where Sonae Sierra will manage the property, capitalising on an asset whose quality, durability and maintenance efficiency are guaranteed by the Casais Group’s industrialised construction methods.
Preparatory work at the factory has already begun, and on-site construction will start in April, with completion expected by the end of 2027.
The partnership between Sonae Sierra and Casais Group envisages the development of several projects in the country’s main urban areas, notably in Greater Lisbon and Greater Porto, thereby consolidating a long-term vision for the residential sector in Portugal based on sustainability, construction efficiency and professional asset management.
