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#Brainsflash – Of note last week was the announcement of the investment of 60 million euros by Taga Urbanic in the residential building Sal D’Ouro, in Vila Nova de Gaia

April, 10, 2023

The beginning of April was timid in terms of news in the real estate sector. The week leading up to Easter is usually a period of greater tranquility in the real estate market. However, in the past week, the sector has not been idle and important news has been released.

At the beginning of the week, the new Arts Hotel Porto, Tapestry Collection by Hilton hotel opened its doors in the historic centre of Porto, in an investment of 15.4 million euros. The opening of this hotel unit is the result of the rehabilitation of a historic and vacant building. The new space has 2,300 m2, and 53 rooms with high standards of elegance and comfort.

Meanwhile, Taga Urbanic announced an investment of 60 million euros in the Sal D’Ouro residential building. The development is located next to Foz de Vila Nova de Gaia and comprises 31 flats.

Lastly, Vila Galé Monte do Vilar, in the Alentejo, was inaugurated. The hotel unit results from the recovery of the ruins of an old existing “monte”, in an investment of 4 million euros. Vila Galé Monte Vilar opened in Beja, on the 1,200-hectare estate where the Vila Galé group produces the Santa Vitória wines and olive oil, as well as fruit, and breeds cattle and Lusitano horses.