1 October 2019 – United Investments Portugal (UIP) – a subsidiary of the Kuwaiti group IFA Hotels & Resorts – has acquired the Quinta Marques Gomes estate in Vila Nova de Gaia, just outside of Porto, from Novo Banco’s Fundo Imogestão.
The new 25-hectare luxury development, which is already under construction and up for sale to a limited group of investors in UIP, will consist of homes and a boutique hotel. UIP plans to invest approximately €200 million and complete construction within five-to-seven years. The Quinta Marques Gomes development will have a total of 98 detached or semi-detached units and some apartment blocks. The firm will also develop a boutique hotel in a 19th-century manor, a Serenity SPA and a restaurant.
Original Story: Jornal Econômico – António Freitas de Sousa
Adaptation/Translation: Richard D. K. Turner