Israeli real estate developer Taga Urbanic is investing €60 mln in the Sal D'Ouro residential project in Vila Nova de Gaia, Portugal.
The new building will be made up of 31 flats, from one to four bedrooms, with areas between 51 m2 and 144 m2, equipped with terraces and/or private gardens and with a direct view to the sea and the natural reserve of the Douro River estuary.
Featuring an architectural project by Ventura + Partners, construction began in March and conclusion is scheduled for Q1 2025.
Amenities will include an equipped gym with sea view, lobby with double height ceilings, car park with bicycle station, pet bathing area, electric vehicle charging sockets, balconies and private gardens.
Tzafrir Fiks, head of marketing at Taga Urbanic, commented: ‘We strongly believe in Gaia's potential, especially in this area of Seca do Bacalhau, where Sal D'Ouro is located. We immediately fell in love with this region and realised its potential as a quiet natural area, close to everything, but far enough away to live in peace and quiet by the sea. We believe that we can really help develop this area that will become Foz de Gaia, and it had to be part of our strategy to acquire as many plots as possible, which resulted in the acquisition of six plots and more than 200 future homes.’
Sal D'Ouro is the third of five projects of Taga Urbanic in Vila Nova de Gaia and the first phase of a complex that will consist of over 200 residential units.
Present in Portugal since 2018, Taga Urbanic has 19 real estate projects in different phases of execution, for a total of nearly 2,000 units in locations such as Maia, Setúbal, Vila Nova de Gaia or Porto.
In 2021, the company announced it had €250 mln to invest in Porto and Gaia over the next two years.
