AFA Real Estate wants to go ahead with a new brand premium until the end of the year. THE general manager from AFA Real Estate, Victor de Sousa, revealed a little about what this new brand will be during the presentation of the Savoy Residence Monumentalis. It is known that the “Savoy” brand will not focus on a medium/high segment, with a more competitive price compared to other offers from the business group.
“The Savoy Residence is our flagship brand, it’s our luxury brand. We are working to create another brand premium with another type of product for a market we want to reach. There will be news soon”, said Victor de Sousa.
The new brand premium “it will not be a Savoy”, it will have an architecture that is “simpler, more functional, smaller areas, expectations for smaller families, single people, single parents, young people and will allow us to have a more competitive price for our product, always of great quality”, said Victor de Sousa.
“By the end of the year there will be a new brand and a new segment”, reinforced the general manager for AFA Real Estate.
Victor de Sousa pointed out that the Savoy Residence concept, including Monumentalis, meets certain criteria and is also an “exclusive concept”, so the objective “is not to have the scale and large number of Savoy Residences”, adding it is in addition to the new brand premium Projects with the Savoy brand are also planned.
The person responsible also highlights that a differentiating factor for the various products is that “we are builders and promoters”. In this sense, Victor de Sousa says that the idea is to “take advantage of internal strengths”. This emphasizes Victor de Sousa, “It gives us great flexibility, at a time when construction is difficult and expensive, and we need this synergy. We will maintain this principle.”
These ideas were also implemented at the Savoy Residence Monumentalis.
Monumentalis sales are already over 90%
Savoy Residence Monumentalis has already sold 90% of its 150 apartments (a number including 12 penthousestwo without swimming pools, and they are duplexes) and 100% of the 28 commercial shops. Each of the rooms in this development is a suite. In the case of apartments, 70% were sold to foreign customers and the remaining 30% to national customers and in the case of commercial shops, 70% are national customers and 30% international customers.
In the international market, North America (the United States of America and Canada), Germany, France, the United Kingdom, South Africa and also countries belonging to the former Soviet Union stand out.
Between 15% and 20% of Savoy Residence Monumentalis’ total sales were Madeiran customers. Customers are between 40 and 60 years old.
“All the customers who bought it from Monumentalis bought it because they want to use it and from an investment point of view,” reflects Victor de Sousa.
Victor de Sousa considers it a “victory”.
oh general manager from AFA Real Estate she believes that the concept can be internationalized. Regarding Madeira, Victor de Sousa believes that the Autonomous Region has the potential to receive more projects.
The person responsible says that the concept of Savoy Residence, which in Madeira is the Savoy Residence Casa Branca, Savoy Residence Insular and now the Savoy Residence Monumentalis, and from 2026 will be Lisbon, emphasizing that it is planned to grow the mainland.
Victor de Sousa pointed out that the Savoy Residence stands out for its ”construction, the nobility of the common areas, the comfort and well-being they convey”, adding that “it is our responsibility. [grupo] to maintain the quality of the brand associated with the product and this gives security to the customer in terms of guarantee and appreciation”.
oh general manager from AFA Real Estate highlights that Monumentalis has already seen an increase in value between 30 and 40%, from the summer of 2021, in a project where excavations began between 2020 and 2021.
Monumentalis typologies vary between T1 and T4, there are 3,500 square meters of landscaped common areas, common exercise and relaxation areas, public (80 to 90 spaces) and private parking, and exclusive access to Savoy Signature services (through the Savoy Resident card). There are two accesses to the developments (one via Estrada Monumental and the other via Ajuda).
Parking is in box (one for each room) and the T1s have two parking spaces.
Monumentalis has six blocks, two communal pools, a gym, 37 private pools, and 21 lifts.
In terms of condominium, the Savoy Residence Monumentalis will have a permanent staff that varies between 10 and 15 people, including areas such as cleaning, maintenance and gardening, as well as Concierge, emphasizes Victor de Sousa.
This Concierge will “provide customer support”, as Victor de Sousa explains.
Monumentalis has a Concierge and 24 hour security.
The Savoy Residence project also provides for the possibility of converting the apartments into Local Accommodation (AL).
Savoy Residence brand owners also have exclusive access to Savoy Signature services, the group’s hotel brand (via the Savoy Residence card).
This card allows “access to services and common areas of the Savoy Signature hotel collection including swimming pool, Jacuzzi, gym and bars, excluding the Jacarandá Lounge & Club, Solarium Premium, and The Club at Saccharum”. There are also 20% discounts on food and beverage at Savoy Signature hotels and restaurants and 25% on laundry services and spas (treatments and products), as well as daily access to the units’ swimming pools and ocean. hotels, 25% discount in various cleaning services, cateringand maintenance and minor repair services and includes a delivery and collection benefit at the Savoy Palace laundry.
This card also entitles you to invitations to Saccharum Sessions and other events selected in the Savoy Signature collection, as well as room hire for a birthday party at the various hotels. Apart from the Savoy Palace, the Savoy Resident card gives the possibility, after paying the amount corresponding to the price of a night’s stay (price per person), to admit guests to the common areas of the other Savoy Signature hotels, including the swimming pool, jacuzzi, gym, bar and rooftop lounge.
Interview between Time.news Editor and Victor de Sousa, General Manager of AFA Real Estate
Editor: Good morning, Victor. Thank you for joining us today to discuss your exciting plans at AFA Real Estate. To start, I understand that AFA is ready to roll out a new premium brand by the end of the year. Can you share more about this brand and its intended market?
Victor de Sousa: Good morning! Yes, absolutely. We’re thrilled about the launch of our new premium brand, which we aim to position as a competitive alternative in the real estate market. Unlike our flagship Savoy Residence, this new brand will focus on a simpler, more functional architectural style. Our target demographic includes smaller families, young professionals, and single parents, offering them high-quality living spaces at a competitive price.
Editor: Interesting approach! You mentioned that it won’t be a “Savoy” brand. Can you elaborate more about how the new brand will differentiate itself from Savoy Residence?
Victor de Sousa: Certainly. While Savoy Residence is our luxury brand with a more exclusive and larger footprint, the new premium brand is designed to cater to a more accessible market segment. Its architecture will be less intricate and will prioritize efficiency and functionality, focusing on smaller living spaces. This allows us to keep prices competitive, yet maintain our commitment to quality construction.
Editor: That’s quite a strategic shift. I noticed the Savoy Residence Monumentalis has had impressive sales—over 90% of its apartments sold. What do you attribute this success to?
Victor de Sousa: The success of Monumentalis is indeed a victory for us, and it can be attributed to several factors. First, the quality of our construction and the amenities we provide have significantly appealed to both domestic and international buyers. Notably, 70% of our buyers are from overseas—indicating strong demand in international markets, particularly in North America and Europe. Additionally, many customers seek not only a residence but also a solid investment, which Monumentalis certainly represents.
Editor: It’s compelling to see such a mix of buyers. Speaking of international appeal, do you see any plans to expand the Savoy brand beyond Madeira?
Victor de Sousa: Yes, we certainly do. Our plan is to bring the Savoy Residence concept to mainland Portugal, starting with Lisbon in 2026. We believe that the brand has significant potential for internationalization, with our high standards of construction and exclusive services distinguishing us in the market.
Editor: How will you ensure that the high standards of quality and service associated with the Savoy brand are maintained in this expansion?
Victor de Sousa: Maintaining quality is essential to our brand ethos. We have robust internal structures as both builders and promoters, which grant us considerable flexibility in managing our projects. Our commitment to quality assurance runs through our construction processes to the customer experience, ensuring that our customers feel secure in their investments and appreciate the value of their properties.
Editor: That sounds reassuring for potential clients. Let’s talk about logistics—how are you managing the increased demand for amenities at the Monumentalis site?
Victor de Sousa: Monumentalis is equipped with extensive communal and private amenities, including landscaped areas, pools, and high-quality common spaces. We are also providing dedicated staffing to maintain these facilities, ensuring residents receive excellent service. Our team of 10 to 15 people will be responsible for everything from maintenance to concierge services, enhancing the living experience and convenience for our residents.
Editor: Before we wrap up, can you share your vision for the future of AFA Real Estate?
Victor de Sousa: My vision is to continue pioneering in the real estate sector by introducing accessible luxury living to a wider audience. As we expand both our Savoy and new premium brand, I am committed to ensuring that quality, innovation, and customer satisfaction remain at the core of our operations. With the ever-evolving market, we also aim to adapt and create diverse opportunities that cater to emerging demographics.
Editor: Thank you, Victor, for sharing these insights into AFA Real Estate’s future. It’s clear that your strategies are paving the way for a transformative experience in real estate for various demographics. We look forward to seeing how these exciting developments unfold.
Victor de Sousa: Thank you! I appreciate the opportunity to share our plans, and I’m excited about what lies ahead for AFA Real Estate.