• Transaction / Assets
    Quinta Marques Gomes
  • Seller
    Fundo Imogestão / Novo Banco
  • Buyer
    UIP
  • € MM

UIP to Build New Residential and Hotel Complex in Vila Nova de Gaia

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

 

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