According to idealista, the Vale da Amoreira Urbanisation Plan (PUVA) will be built in the Penha and Vale da Amoreira area, about one kilometer from the city center of Faro. “It is one of the largest projects in the Algarve and in Portugal,” said Finangeste in a statement. Finangeste is developing it together with an international investor, whose name is not disclosed. The construction of 1,641 residential units is planned.

“With a total area of ​​21 hectares and a potential construction area of ​​168,000 square meters (m2), PUVA is divided into several lots that will allow multiple uses, from housing, commerce and offices , to solutions for student residences, health and senior housing ”, says the company, which defines itself as being one of the leaders in real estate investment, promotion, construction of real estate projects and acquisition and management of credits and acquisition of companies in Portugal.

According to Finangeste, the creation of a large urban park, covering more than 10 hectares, is planned, which will be the largest green space in the city of Faro. This park will have: cycle paths, playgrounds and sports facilities.

“Like other Finangeste projects, PUVA stands out for its investment in urban requalification, sustainability and the creation of spaces that promote quality of life and economic dynamism in the regions where it is located”, reads the note.

This is a project that is being developed in phases, with around 60% of the infrastructure works already completed, the company reveals, adding that the area of ​​the lots under development is 168,000 m2, with 1,461 residential units expected to come onto the market in the coming years. These houses will be sold “at reasonable prices ”.

The landscape architecture was carried out by architect Álvaro Manso and several companies contributed to the development of the project, including CPU Architects, GEG Engenharia, Oyster PM fiscalização and Casais construção, says Finangeste, stating that it positions itself “as a relevant and active investor in the Portuguese context”.