transaction description
The Vale da Amoreira Urbanisation Plan (PUVA) is planned for the Penha and Vale da Amoreira area, approximately one kilometer from Faro’s city center. The project involves the construction of 1,641 residential units, developed by Finangeste in partnership with an undisclosed international investor.
The 21-hectare site has a potential construction area of 168,000 square meters and is divided into lots intended for various uses, including housing, commerce, offices, student residences, health facilities, and senior housing. Plans include a large urban park exceeding 10 hectares, which would be the largest green space in Faro, featuring cycle paths, playgrounds, and sports facilities.
Development is occurring in phases, with around 60% of the infrastructure work already finished. Approximately 1,461 residential units are anticipated to be available in the coming years, offered at reasonable prices.
Architect Álvaro Manso designed the landscape architecture, and the project involves collaborations with CPU Architects, GEG Engenharia, Oyster PM fiscalização, and Casais construção.
