197
197
  • Transaction / Assets
    three plots of land in Porto
  • Seller
    na
  • Buyer
    Pedro Couto and Manuel Reis Campos
  • € MM

Two Executives Team Up to Build Apartment Towers in Porto

17 March 2020 – Pedro Couto, the owner of the construction company Telhabel, and Manuel Reis Campos, the president of AICCOPN (Association of Civil Construction and Public Works Industries), have teamed up to buy a set of three plots of land. The properties are in the latest expansion area of ​​the city of Porto, in Requesende, the parish of Ramalde. The project, aimed at the middle class, will consist of four to five apartment buildings, with a total of 350 to 400 flats.

The new residential complex, located next to Estrada da Circunvalação and Avenida das Congostas and next to Ribeira da Granja, will have a total construction area of ​​more than 50,000 square meters. The project is under development by Vanguardplace – Sociedade Imobiliária, S.A and designed by the architect Henrique Granja.

At the same time, Porto is looking to change the zoning regulations for the area of ​​Requesende. The new rules, which are expected to be approved by March/April 2021, will allow for the construction of higher buildings. The change would seek to encourage additional investment in housing projects for the middle class.

Original Story: Idealista – Elisabete Soares

Translation/Summary: Richard D. Turner