At the end of 2019, Promiris acquired in Vila Nova de Gaia (Porto) a piece of land of 51 190 sqm with an approved development potential of 31 800 sqm.
The land consists out of 5 different plots of respectively 12 900 sqm, 11 660 sqm, 5 930 sqm and 1 310 sqm constructible area and a 26 000 sqm of green area, permitting the development of 270 apartments in different phases.
This exceptional site is located on the border of the Douro river, only 700m away from the estuary with a direct and spectacular view on Porto historic centre, opposite of the Crystal Palace.
A design competition is ongoing to elect an architect for the development. First permits will be filed during the second semester of 2020.
The development will be handled in partnership with Thomas & Piron Group, a leading Belgian residential real estate developer and the Portuguese real estate developer Silcoge, the seller of the land, who will remain associated in the development with a minor participation.