Israel’s Fortera Group to Build Skyline in Vila Nova de Gaia

14 October 2020The Israeli firm the Fortera Group will invest approximately 80 million euros to build its Skyline project in Vila Nova de Gaia, which will consist of a two-tower complex with flats, shops, services, a hotel and leisure facilities. Skyline, which will also have 600 parking spaces, will be located behind the Gaia City Hall, on Rua General Torres. Fortera plans to develop the 26,000 m2 plot of land in two phases. First, a 260-room hotel in a 20-story building, which will also have flats. The second phase will include a 2000-person capacity events centre, along with shops, services and leisure areas. Elad Dror, the CEO of Fortera, states that the construction of Skyline will start as early as 2021, and “will take approximately two to three years to complete.”

With sales prices between €3,000-€5,000/m2, Fortera expects to deliver another set of 60 flats by the end of the year, in Porto, Gaia and Espinho. Some of the flats came from the conversion of planned hotels into residences.

Original Story: Jornal Expresso – Amadeu Araújo

Translation/Summary: Richard D. Turner