the UIP - United Investments Portugal will build a new residential and touristic complex in Vila Nova de Gaia, an investment of 200 million euros that involves the purchase of Quinta Marques Gomes, announced today the general manager, Carlos Leal.
“This is one of the most ambitious projects of the group and comes to increase UIP’s solidity and growth, as well as its presence in Portugal, especially in the north of the country, in Porto and Vila Nova de Gaia”, said Carlos Leal at the presentation of the new venture in the luxury segment.
The project, with 90,000 square meters of construction set in a 25-hectare farm with extensive green areas over the mouth of Douro, will have a boutique hotel of an international brand, a Serenity SPA, restaurants and “a strong residential component”, with two types of residences.
The construction works have already started and should be completed in a period of 5 to 7 years, said UIP, part of the Al-Bahar Investment Group consortium that is present in Portugal through Pine Cliffs Resort, Sheraton Cascais and Hyatt Regency Lisbon, expected to open by the end of 2020. Being also a shareholder of Yotel hotel group, with a project in Porto.
Read the article of the "Expresso" magazine, here (in portuguese)