The Lumiares – Luxury Hotel Apartments has started construction at Bairro Alto in Lisbon. The project is being led by Q&P Real Estate Investments which is putting €20m into the renewal of the 16th century Palace of the Counts of Lumiares. The work should be completed in 2017 and will result in what the investor describes as an innovative concept offering all the amenities of a 5-star hotel in an apartment residence. The project will target the highest level of international investors.