A consortium of four Portuguese businessmen, Samundar, is developing a new residential complex in Setúbal.
The São Francisco Condominium project involves a total investment of €45 mln and will be constructed in four phases over the next four to five years.
The first phase, already underway and worth €11.5 mln, will feature 35 apartments ranging from one to three bedrooms. It is scheduled for completion next year.
The remaining housing blocks will be built with a one-year interval between each block, and this project is expected to continue over the next four to five years, that is, until mid-2028/2029.
The entire project will comprise 135 apartments across seven floors, all boasting balconies or terraces overlooking the Troia Peninsula. The project was designed by the Miguel Amado Arquitetos studio and features contemporary architecture.
António Nathooram, CEO of Samundar, commented: ‘The São Francisco Condominium is a complete investment that encompasses all aspects for a full life and a space with maximum comfort, just minutes from all the necessary amenities, integrated into a dynamic community and surrounded by lush nature, with stunning views over the Sado Bay and the Tróia Peninsula.’
The São Francisco Condominium incorporates advanced construction materials and technologies that ensure energy efficiency and low water consumption. The building’s ecological footprint is offset through the use of passive energy management systems.
Centrally located in Setúbal, the São Francisco Condominium is just minutes from the Atlantic coast and a short drive from Lisbon. Residents will benefit from nearby commercial, healthcare, cultural, and educational facilities. The condominium’s proximity to pristine beaches, the Arrábida Natural Park, and the Sado Estuary provides ample opportunities for leisure and outdoor activities.
