We’re excited to share news about a major new development project in the Algarve region of Portugal. The project is the result of a joint venture between AEDAS Homes, a Spanish real estate company, and LandCo, a Santander bank company that specializes in land development and urban planning.
The first phase of the development will feature a tower with 116 apartments, ranging from one to four bedrooms. Each unit will have private terraces up to 60 square meters in size. The project will also include several shared amenities like a swimming pool, gym, social club, solarium, children’s area, and coworking spaces.
According to the developers, this initial €125 million investment is just the beginning. The site is located just 200 meters from Praia da Rocha Beach, and the Santander bank has options to acquire additional adjacent plots of land. If demand remains strong, they could build a second tower with 116 more apartments.
In total, the Santander bank’s land holdings in the Algarve region have the capacity for nearly 500 new homes. The developers are aiming to provide a “first-class residential experience” for homeowners and residents.
Marketing for the initial project has already begun, and construction is scheduled to start in the second quarter of 2026. The developers estimate total revenue from this first phase will reach around €70 million.
We’ll continue to follow the progress of this major new development in the Algarve. It represents a substantial investment in the region’s real estate market and could provide hundreds of new living spaces in a prime coastal location.
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