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Royal Prime Invests €29 Million in Building Student Development in Covilhã
5 February 2021
The Royal Prime company will invest 29 million euros in the construction of a mixed-use development with 267 student residences, along with apartment buildings, in Covilhã. The site will also include an indoor swimming pool, library, cafeteria, laundry, fitness centre, event room, cinema room and game room. Work is expected to start during the second half of the year, and the firm is expected to invest the full amount over the next three years.
The municipality of Covilhã announced the investment stressing the importance of the initiative to the city, which will increase the supply of high-quality accommodations. The new development, which has a gross construction area of over 25,000 square metres, is located in the Urbanização dos Caldeirões, in front of the Health Sciences Faculty.
João Alegria, a manager at Royal Prime, told Lusa that “We are talking about much more than a residence for students. The idea is to have a central space with capacity for 267 accommodations, which can be for young students, researchers, teachers and others. In addition, we will also have 100 flats of different sizes.”
Original Story: Diário Imobiliário – Pedro Curvelo
Translation: Richard Turner