Announcement: Vanguard Properties

Vanguard Properties is currently progressing with real estate developments valued at hundreds of millions of euros in Portugal. These involve a wide-ranging community of local companies, particularly in the areas of architecture and engineering, construction management, construction, banking and others, which directly or indirectly we contribute to keep the jobs of thousands of individuals.

Given the economic scope of this group and the current social and economic context resulting from the state of emergency and the measures for its execution, we hereby communicate the following:

a) All the financing required to continue and complete our works in progress is guaranteed;

b) We will maintain and wherever possible (for instance, in the case of Bayline) to speed up the rate of our works, the only exception being when prevented from doing so by measures the Government may impose in the current context;

c) All the construction firms working on our projects have informed Vanguard Properties that they have adopted the necessary measures designed to protect their collaborators;

d) We will maintain the same payment policy, that is, to pay on a timely manner and to fulfil other contractual obligations.

Despite these current times of uncertainty, we trust in and are committed to our country and stay true to the project began in 2016.

Finally, to all our collaborators at Vanguard Properties, currently working from home, we reaffirm our commitment that all jobs and respective perks will remain intact.

We are fully committed to guaranteeing the liquidity of our suppliers and the purchasing power of the people who directly or indirectly depend on us. That is the only way we can overcome the consequences of this pandemic.

Thank you and once again may we say: Home STAY Home!

José Cardoso Botelho                                        Claude Alain Berda 

 Managing Director                                                   President