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Fortera invests 500 million in a new real estate concept

Espinho and Gaia will receive the first two projects. Next will come Porto and after that the rest of the country. Elad Dror, CEO’s group, explained to Jornal Económico the new Alive concept. 

The Israeli’s group will do an investment of 500 million euros for the next five years on real estate projects with a new concept (which names Alive) all over the country, but particularly on Porto City and North. In conversation with Jornal Económico, the CEO and co-founder Elad Dror explain that the idea behind the Alive’s concept is to use the building design, the technology and common activities to bring all the neighbors together and spend time together. And he explains that, conceptually, the Alive idea is reminiscent of the kibbutz, the collective voluntary communities on Middle East country. 

“The concept came up in middle of Covid-19, when we saw people can, sometimes, be isolated. (…) I’m Israeli. For us is very common having the kibbutz. But these it’s the old way. It is very similar to a kibbutz, but without join economy. So, everyone lives their lives. Everyone can socialize what they can and can decide not to. But it’s a space and because of that we call it Alive – it’s not living there, it’s how you feel about living there. So it’s for people who want to be happy, less isolated, who want to have children to interact with others” say Elad Dror. 

How? The Alive concept that Fortera say to be his own first type in Portugal, it’s based on three main pilars. The first one is the space, in other words, the condominium is designed in a way that aims to unite people.

“In each building there will be a co-working space (in spite of condominium room), a gym, a playground: indoor and outdoor. But this it’s not enough, because the creation of a space which brings people together only works thanks to coincidence. Maybe I’m there, may I am not. Or maybe we never find each other again.” say Elad Dror. 

Came the second main pilar: a community manager. 

“To guarantee that there are activities, an agenda, things to do that bring people together. For exemple, an yoga lesson in the morning and one at 6pm maybe an interesting speech about traveling to Japan. And for the young ones, a garden activity. Something random: plant a banana. I don’t know.” 

But after that we need a third element, which is the technology. An app. “Lets suppose that you bought an Alive apartment: you have a “login” and an user. Only you and those people who have an apartment there can have the access. On the app you see the calendar, the next activity, you see the interesting news and updates you need you know about the building. And you can also suggest an activity. For exemple, if you want to run in the early morning and you want to form a running group. You have a package to receive and you’re not home and you need help of someone who can do it for you. Or maybe you have guests at 12pm, you need two extra parking spaces and no one is using because they are on vacation. You can make a reservation of those spaces on the app”. says the Fortera CEO. 

But these concept – although to reach inside the building – no longer isolate from the outside, closing the people inside of a luxury condominium? Elad Drod disagree. “I don’t believe that people are being isolated inside. At the end, there is a beautiful quote that we say (in Israel): “it’s better have a closer neighbor than have a far away brother”. At the end of the day, it is the next of your neighbors that you live. So, it’s better you have a good and a close relationship with your neighbors, or at least know them and know if you want have any type of relationship”. 

In the other side, the responsible of Fortera emphasizes that this is not a luxury concept, but for the medium and high classes. And that doesn’t imply a premium over market value. 

“The cost associated with this is basically residual. And why is residual? You’re using the same space, just doing it on a smart and elegance way. The problem starts on an existing condo: the residents would never invest the money to remake or do better. I would never get a decision from 100 tenants. But if you do it right from the start, it becomes residual. The only thing we want to do is differentiate. We will not sell it higher than the market price. There will be a slight difference, but there will be no premium on top of that.”

To integrate the Alive line, the Fortera group has already chosen the Espinho Business Center – and is now called Downtown Espinho. The first phase of this project will be called Alive Espinho. “The building in Gaia was called Riverside and it will also integrate this new concept but it still doesn’t have a closed name.” adds the group. 

The investment is 15 million euros on 84 apartments on the first phase in Espinho and 110 million on more 300 apartments in Gaia. “On next five years, Fortera plans to develop around more 1000 homes which corresponds an 350 million euros investment, within the same concept as Alive.”

CategoriesNews

Sales price of residential properties increased 17,4% in the first quarter

Sales price of residential properties increased 17,4% in the first quarter The supply of houses for rent has more than doubled, registering an increase of 101,1%, compared to the same quarter of 2020, leading to a 9,4% decrease in the value of rents, to 842 euros. In the first quarter of 2021, the average sale price of residential properties grew 17,4% in Portugal, compared to the same period last year, while the price of office properties fell, says a report prepared by the real estate data technology platform CASAFARI. According to the analysis report of the national real estate market for the first three months of this year, despite the pandemic situation, real estate prices in the residential segment continued to show a gradual growth, while the number of properties available for sale increased 87,8%. In the period under review, the supply of houses for rent more than doubled, registering an increase of 101,1%, compared to the same quarter of 2020, leading to a 9,4% drop in the value of rents, to 842 euros . According to the report, all districts in Portugal, with the exception of Viseu, which registered a 0,88% drop, saw an increase in average real estate prices in the period under review. Noteworthy is the district of Braga, which recorded the largest increase, with an increase of 18,6%, and Aveiro, with an increase of 15,2%. Lisbon remains the district with the highest average selling price, 353 thousand euros. The municipalities of Lisbon, Cascais and Oeiras stand out as the most expensive in Greater Lisbon, both in terms of average sales prices and in terms of average rental prices. It was also Lisbon that had the greatest growth in the number of properties available for sale, an increase of 166,6%, while Castelo Branco was the only district to register a drop. As for leasing, all districts recorded increases in the number of properties available for rent. The report, prepared by the CASAFARI real estate data technology platform, also presents an analysis of the non-residential segment, with emphasis on the offices. In this segment, Casafari’s data points to “more pronounced effects due to new trends driven by the pandemic, such as teleworking, with office prices falling and, in reverse, with the offer available for rent registering increases of up to 34,5% “. Original article.

[img Nick Karvounis by unsplash]

Nova ponte entre Porto Gaia
CategoriesNews

New bridge between Porto and Gaia (next door to Riverside) will cost 50 million

Metro do Porto

New bridge between Porto and Gaia (next door to Riverside) will cost 50 million

Vai ligar o Campo Alegre ao Arrábida Shopping. Concurso público internacional será lançado e vai nascer a Linha Rosa do Metro do Porto e a Amarela será aumentada.

It will connect Campo Alegre to Arrábida Shopping. International public tender will be launched and the Pink Line of the Porto Metro will be born and the Yellow Line will be increased.

The public tender for the design of a new bridge over the Douro River, which will enable the so-called “second line” of Vila Nova de Gaia metro, launched this Tuesday, in Porto, with the presence of the Prime Minister.

At issue is the launch of the international public tender for the design of the new bridge, exclusively for the metro, and the opening of a contest of ideas for the project, whose jury is composed of 11 elements that will be revealed this Tuesday, as stated in the invitation sent to the press by the guardianship. According to TSF, Eduardo Souto de Moura, Alexandre Alves Costa, Inês Lobo and professor Rui Calçada are part of the jury.

The new crossing to connect Porto and Gaia by metro should be between the bridges of Arrábida and Luís I and will serve a new line from Vila Nova de Gaia, between Santo Ovídio and Casa da Música, in Porto. The bridge should connect Campo Alegre, in Porto, to Arrábida Shopping, in Gaia, details the TSF.

In addition to the Prime Minister, António Costa, the presentation also includes the presence of the Minister for the Environment and Climate Action, João Pedro Matos Fernandes, and the Secretary of State for Mobility, Eduardo Pinheiro.

The Government estimates to spend around 50 million euros on the project, financed by the Recovery and Resilience Plan. To TSF, Matos Fernandes said that the Government is “in a hurry to make these investments so that the economy can recover after the pandemic”. However, “there are things we cannot do quickly and one of them is a bridge over the Douro River, between two terrains in Porto and Gaia, 500 meters to the source of Edgar Cardoso’s greatest work, which is the Ponte da Arrábida, and the west of the Luis I Bridge, which is a bridge from the Eiffel school. It has to be a very careful project ”.

Faced with an “extraordinary technical challenge”, the Minister of Environment wants to “attract the best bridge designers in the world” for this competition, with a project delivery deadline of four months.

Increased Yellow Line

This Tuesday’s event also includes the contract for the construction of the Pink Line and the extension of the Yellow Line of Metro do Porto.

As far as the Yellow Line, the extension of Santo Ovídio to Vila d’Este, in Gaia, is at stake, while the Pink Line consists on a new route in Porto between the area of S. Bento / Praça da Liberdade and Casa da Música.

About the contract in Vila Nova de Gaia, the mayor, Eduardo Vítor Rodrigues, revealed on Monday, on the sidelines of a town hall meeting, that “the construction of the shipyards starts this week”, one of which will be near the Hospital de Gaia, near the Vila d’Este roundabout, with a second scheduled for Santo Ovídio, next to the local tennis court.
This Tuesday’s ceremony will take place in the Gardens of the Palácio de Cristal, starting at 11 am, and will be “restricted”, being “reduced to two representatives from each municipality”, said the Mayor of Vila Nova de Gaia, referring to to its municipality and to Porto, cities that are on the opposite banks of the Douro River.

In January it was announced that the Court of Auditors (TdC) gave the green light to the works for the construction of the Pink Line and the extension of the Yellow Line to Vila d’Este. The TdC visa was given to the contracts signed, in November 2020, between Metro do Porto and the Ferrovial / ACA consortium, for a global amount of 288 million euros. Of this amount, 189 million goes to the Rosa Line, in Porto, and 98.9 million goes to the extension of the Yellow Line, between Santo Ovídio and Vila d’Este.

“The global investment in the two projects is around 407 million euros – including expropriations, projects, inspection, equipment and systems to support exploration,” Metro do Porto told Lusa on 3 March.

The new Pink Line

The new Pink Line (circular) will integrate four stations and about three kilometers of track.

This connection, between the S. Bento / Praça da Liberdade area and the Casa da Música, passes through the Santo António Hospital, Rosa Mota Pavilion, Maternal and Child Center, Galicia Square and the Campo Alegre university center.

The extension of the Yellow Line between Santo Ovídio and the residential area of Vila d’Este will allow the construction of a section with three stations and about three kilometers, passing through the Production Center of RTP and the Hospital de Santos Silva.

Currently, the network is 67 kilometers long, with six lines serving seven municipalities and 82 stations, handling more than 71 million customers annually (figure reported in 2019, the last financial year before the pandemic).

 

Original article.

Comprar arrendar
CategoriesArticle News

Is it better to buy or rent property in Portugal in 2021?

Is it better to buy or rent property in Portugal in 2021?


Pros and cons of buying and renting property during the latest coronavirus wave in Portugal in 2021.

Whether you live in Portugal and want to move house, or whether you’re planning on moving to Portugal, many people will be asking the same question. Is it better to buy or rent property in Portugal in 2021? Is borrowing money from the bank to buy a house the best option during a pandemic? Or does the possibility of being a tenant instead of a property owner bring more advantages in 2021? With the help of DECO, the Portuguese Association for Consumer Protection, we’re here to help you answer all of these questions and guide you through this difficult decision making process.

Whether to buy or rent property in Portugal in 2021 is a doubt that is increasingly common due to the uncertainty of the current climate, both amongst national and international buyers in Portugal. People are hesitant about getting into mortgage debt and many people are opting to rent in spite of worries that in the long term, this may mean losing money, while others are taking advantage of low interest rates and think that now is the right time to take out a mortgage.

Historically, and according to official statistics quoted by DECO, the great majority of residents in Portugal generally prefer to buy a house instead of renting. However, various factors have contributed to some cooling off when it comes to taking out a mortgage in Portugal during the years of economic and financial crisis that have been experienced since 2008, a situation which has worsened since 2020 with the pandemic that has led to new cuts in Portuguese income.

The experts at DECO advise those currently looking to buy or rent property in Portugal to consider a number of factors as decisions made now could have repercussions for many years. Contracting a mortgage loan today, for example, usually represents a relationship of often at least 30 or 40 years.

This is one of the reasons that has led consumers in Portugal to favour the option of renting. In this case, for example, tenants would not have to pay the taxes associated with the property, nor are they responsable for maintenance or condominium expenses. On the the other hand, renters will have to manage the end of the lease term and be subject to annual changes in rent in accordance with the updating coefficients and inflation.

By choosing to buy a property in Portugal, you will be accumulating valuable assets for your retirement and to leave to your children, for example, but you will have to pay more taxes, such as IMI property tax, or bear maintenance or condominium expenses. Remember that if you do choose to buy, you will still have to be able to afford a down payment or deposit and you will be tied to a mortgage for a long period of time. Whatever you choose, make sure to do your sums carefully and find the best solution for your situation.

See original article.

Noticias Porto Braga melhor destino
CategoriesNews

Porto and Braga in the top 3 of real estate supply and demand preference

Where are most residential properties for sale in Portugal, and where are people buying the most?

An idealista analysis shows the effects of the pandemic on demand and supply in the residential real estate market across Portugal.

The property market, like many other economic sectors, is feeling the effects of COVID-19 in Portugal. But how are supply and demand levels coping in Portugal when it comes to housing? Last year in 2020, demand for residential property registered an average rise of 62.3% and stock showed a small growth of 13.6% nationally, according to data collected by idealista, analysing the variation between January and December 2020. But where are most residential properties for sale in Portugal, and where are people buying the most?

Property supply and demand in Portuguese districts
The top 5 districts in Portugal where the variation in demand is higher than the national average include Castelo Branco (106.3%), Braga (85.7%), Porto (83.3%), Guarda (69.3%) and Lisbon (69.0%). These figures are above the national average demand of 62.3%.

The variation in demand is lower in the districts of Faro (36.7%), Coimbra (35.9%), Madeira Island (31.1%), Vila Real (24.9%) and Viseu (23.6%), which are below 40%. The district of Bragança, is the region that presents the lowest variation in demand (3.4%).

As for the properties on offer in the market, so-called ‘stock’ or ‘supply’, during this year marked by the pandemic, the district of Viana do Castelo is the district that shows the greatest variation (28.4%). This is followed by Braga (23.6%), Porto (20.6%) and Madeira Island (20.1%), all of which are above 20%.

On the contrary, there were 6 districts that saw their property stock for sale fall over the last year, namely Guarda (-18.4%), Portalegre (-9.9%), Leiria (-5.2%), Beja (-4.2%), Santarém (-3.1%) and Évora (-0.3%).

Performance of Portuguese cities

Analysing the variation in demand by city, Castelo Branco is the only city where demand doubled (118.7%). Next on the list are Porto (87.6%), Lisbon (78.6%), Faro (73.9%), Braga (72.2%) and Leiria (71.8%). All of them show an increase in demand for residential property above 70%.

During 2020, Castelo Branco (district and city) stands out as the only area where interest doubled in 12 months, in spite of the pandemic.

With regard to demand, it can be concluded that it was less than 40% in 2020 in the cities of Santarém (37.4%), Vila Real (35.8%), Beja (28%), Funchal (27.9%), Viseu (26.3%), Bragança (25.7%) and the city of Guarda stands out as the only location where demand fell (-16.4%), from January to December 2020.

The city of Guarda also stands out for being the location where real estate supply saw the sharpest fall (-45.6%). The cities of Portalegre (-26.9%), Beja (-21.4%), Santarém (-14.9%) and Évora (-0.7%) also showed a reduction in the number of properties on offer in the residential sales market in 2020.

The variation in supply is higher in the cities of Aveiro (36.9%), Viana do Castelo (33.9%), Porto (33%), Funchal (27%), Vila Real (22.9%) and Lisbon (21%).

The impact of teleworking on the residential market in Portugal

“We observe several cities outside the capital with significant increases in demand for residential property for sale. It is considered that teleworking or remote working in Portugal has forced people consider their life choices in order to have a better quality of life, with bigger houses and leisure spaces, namely gardens”, concludes the idealista/data team in Portugal, stressing that “the cities or districts with the biggest variation in demand, doesn’t mean directly that they present the biggest or the smallest amount of real estate stock”.

An example of this is the case of Castelo Branco (district), with a variation of 106.3% in demand and an accumulated stock variation of 8.8%. In Porto (district), there was a variation of 85.7% in demand and 23.6% in supply.

For the purpose of this study, the variation in the level of demand was analysed, calculated through effective contacts to the property listings published on idealista, and the number of properties on offer in the residential sales market between January 2020 and December 2020.

See original article.

revista Viva
CategoriesInterview News

Businesses that continue to grow in times of pandemic

The year 2020 proved to be one of the most challenging ever, the result of a pandemic, as there was no memory, that practically stopped the country. Thousands of Portuguese saw their income affected, lost family and friends in the fight against an invisible virus, distanced themselves from those they love most in the hope of protecting them and embracing again and several companies were forced to close doors and dismiss employees … However, many resisted. In this article, we highlight three that continued to grow in times of a pandemic and made adversity opportunities.

The examples are clear and are right here on our “side”, with these three companies headquartered in the district of Porto. We are talking about the Fortera Group, which operates in the luxury real estate business and which, in the last four years, has concluded nine projects in Porto, in Gaia and Espinho, the KuantoKusta online sales platform and the logistics and transport group Rangel.

LIVE! he was talking to the CEOs of the three companies and now reveals all the details. They are real testimonies of companies, which managed to keep their businesses active, possibly firmer than ever, and to prosper even at a time that had everything to be “a failure”. The difference may be in the resilient spirit with which each faced the pandemic and seized the opportunities that arose from there. They are considered the “miracles of the pandemic” and show that, after all, 2020 also had some good things…

O KuantoKusta, por exemplo, superou 100 milhões de euros durante a Black Friday e encaminhou mais 1,25 milhões de encomendas durante a época promocional, batendo, assim, um recorde histórico, em parte suportado pelo crescimento de 800% de encomendas processadas no seu marketplace em comparação com o ano de 2019. Por sua vez, o grupo Rangel, com presença direta em sete países, iniciou operações no México e na África do Sul e tornou-se responsável pela logística da distribuição das vacinas contra a covid-19 em Portugal.

With regard to the investment by the Fortera group in the last year, which essentially focused on the acquisition in Vila Nova de Gaia, Braga and Espinho, it amounts to a value very close to 180 million. The two major areas in which the brand operates, it should be noted, are essentially centered on the acquisition of real estate for construction from scratch or the rehabilitation of spaces for hotel or residential purposes. In Gaia, for example, Fortera will give birth to the Skyline, an ecosystem that, according to Elad Dror, the group’s CEO, “will change the county forever” and that included a new congress center with a capacity of 2,500 seats, a 340-foot tower rooms, parking for 600 vehicles and more than 30 thousand square meters of services.

Among the main difficulties experienced by Fortera during the pandemic is “the delay in the construction and consequent delivery of the units”, the “impossibility of investors and partners to visit Portugal at this time” and “delays in planning and issues of the municipalities”, revealed the official of the company, founded in 2015. In the transport sector, Nuno Rangel considers that the greatest adversities were related to “the complex logistics operations”. “It was the case with the many transports that we made of air cargo from China, since it was the only way to remove the necessary and urgent goods from that country. We even had to charter eight freighters and planes, as is the case with Antonov 124, one of the largest planes in the world ”, he revealed. In addition to keeping deliveries on the move, Rangel also mobilized “dynamic contingency plans”,in order to “manage and mitigate supply chain disruption”.

 From the moment the first alert state was declared, in March, there was an exponential increase in the logistical activity of medicines and related health products”, he revealed, adding that this increase represented a “doubling in the number of units shipped during the months of March and April ”.

What about the purchase of products? What, after all, were the products most sought after by the Portuguese during the pandemic? Sara Sá, from KuantoKusta marketing, revealed that before the beginning of the first state of emergency and right after it was decreed, there was a “race for masks and disinfection material”. “The increase in demand, from February 24th to March 1st, 2020, for example, in masks was around 2000%, in alcohol and similar products it reached 7000%”, having again had a “growth sudden ”when the state of emergency was declared.

With the beginning of mandatory teleworking, laptops, printers and peripherals were the products with the greatest increase in research. “In the case of printers, 186% increase”, he said, stressing that “all categories of the website benefited from the confinement”, having seen a “considerable increase in online purchases, especially from new users.

At the beginning of the second phase of distance learning, enacted in this general confinement, there was once again, similarly to what had already happened in March, an “unrestrained demand and stock rupture” in products related to the IT area, such as laptops and printers.

Discover, in detail, the responses of the representatives of the companies and get to know the main plans of the three giants for the post-pandemic period.


Elad Dror, CEO Grupo Fortera

What was the group’s main investment during the pandemic?

They are all big and important to us and the cities. In Gaia, with the Skyline project we have more than 300 apartments, and we will start AZUL, with 64 units, later this year.

In Espinho, our enterprise project will create a mega move to the south of the city – 130 jobs during the construction and another 150 after completion – and will allow the municipality to recover population, work and leisure. And, in Braga, we have the rehabilitation of Convento do Carmo, which becomes particularly important, especially now that Braga was elected the best European destination to visit in 2021.

What will the Skyline represent for the city of Vila Nova de Gaia, in particular, for the North and for the country? 

It is a new center of Gaia, an ecosystem that will change the municipality forever. The congress center, the hotel, commerce and offices, all around a beautiful square that will be a point of interest not only for the people who stay and work there, but for all citizens of Gaia and all tourists.

This project puts Gaia in the spotlight and gives it recognition for a modern city with cutting edge architecture and landscapes of the 21st century.

What is the current status of the project?

We are working on the design of the congress center, the hotel and the square. The pandemic has slowed everything down, but we are 100% committed to the project. Eventually we can change some elements to adapt to the new reality, but the general concept remains.

What plans do you make for the post-pandemic period?

The new needs to live, work and travel. And we will demonstrate this in all of our projects.

What are the main investments planned for the future? 

We have more than 200,000 m2 in pipeline, for sure we will be busy. But we have many big surprises for the country with new concepts and a business vision, mainly in trade, which can impact many jobs and workplaces that will be essential for the future to come. We hope to help with that and continue to bring investment and innovation.

Read original article.

Riverside vestígios arqueológicos
CategoriesNews

Riverside – Archaeological remains found near Castelo de Gaia

Archaeological remains found near Castelo de Gaia

Archaeological remains have been found near the Castle of Gaia, which is thought to be the remains of a paleo-Christian basilica dating from the 4th to the 9th centuries. 

On the ground there were remains of epigraphs, sundials, altar pillars and remains of a marble gate.

Therefore, it is intended to rescue the findings so that they can be displayed by the patrimonial and didactic value that they have, being an active part of the county’s history.

Fortera’s objective is always “to integrate itself in the places, trying not only to contribute to the construction, but also to contribute to the communities, in this case a discovery that is part of the history of Gaia, and to try to combine what may be the future of Gaia with its past ”says architect Hélder Agostinho.

This land is where the Riverside project is projected.

Source: Porto Canal.

Braga best destination 2021
CategoriesNews

Braga – Best places to travel in Europe 2021

Best places to travel in Europe 2021 Like every year, hundreds of thousands of you from more than 190 countries around the world have voted for your European Best Destinations. Where would you like to go on holiday in Europe as soon as it is safe to travel? Discover your top European travel wishlist of the best city breaks in Europe, some of the best sustainable destinations in Europe, top destinations for beach holidays or best destinations for cultural & gastronomical escapades and destinations for families or lovers. Need even more inspiration? Discover dozens more themes such as the Best Beaches in Spain, the Best Hidden Gems in Turkey, the Best Islands in Greece, the most beautiful nature wonders in Italy… For now, stay safe, travel online and discover some inspiration for your next holiday in Europe.

1. Braga, Portugal

The so-called Portuguese Rome is your best European destination for 2021. Braga has something to offer each of us. Braga will appeal to lovers of history and architecture. Braga is also a must-see destination for gourmets, but also for shopping addicts (with one of the largest shopping centres and a wide range of independent shops in the city centre). Braga is also a must-see destination for spirituality with sumptuous churches, monasteries and shrines. Incredibly romantic too, Braga is one of the happiest cities in Europe and among the one with the best quality of life in the world. Still thinking about Covid? Braga has been recognized by the OECD for the quick and innovative response of the authorities to stop the epidemic by protecting the most vulnerable. Do you like to travel and are looking for a place to invest or settle down? Braga was voted the best destination to invest in Europe. The city is also committed to sustainable tourism and is part of the network of cities with zero CO2 emissions. City of tradition and modernity, Braga is dynamic, sparkling, cultural, gastronomic, historical,… your best European destination for 2021. With its many cultural events, its great meetings, Braga is a city to discover at any time of the year. For families, lovers, for a cultural city break or shopping or a gastronomic getaway, Braga is the destination to visit. Check the full list here.
Espinho 3
CategoriesNews

Private group invests 70 million euros in Espinho

Article Jornal Notícias

Private group invests 70 million euros in Espinho

The Israeli group “Fortera” is prepared to invest some € 70 million in a venture aimed at housing, trade, services and hotel in Espinho. The project is pending recognition by the municipality of an enterprise with public interest.

According to information from the City Council, the project called “Espinho Business Center – New Business and Tourism Center in the south of the city” and an entire planned urban operation, “reconfigures the entire south of the city, continuing the ReCafe [Requalification of the Railroad Channel of Espinho] “. It will have “a great impact on the development and refinement of the territory in the southern part of the city, between Ruas do Golf, Rua 43 and Ribeira de Silvalde”. In other words, it must be born next to the old Municipal Slaughterhouse of Espinho and develop in all the free space attached. In addition to the investment of 70 million euros, it is planned to create 132 jobs during the execution and around 150 jobs after completion. However, the realization of this enterprise will have to have, in the next week, a favorable vote by the City Council in the recognition of an enterprise with strategic public interest for the municipality. After this first consent, the recognition will have to be submitted for approval by the Municipal Assembly. The autarchy says that the “Fortera Group” project already considers favorable to the Coordination Commission of the North Region, the Portuguese Environment Agency and the IP-Infrastructures of Portugal. “It is a housing and business complex developed through a new urban area, with large areas of public green spaces, with a set of infrastructures that allows for well-being and an easy and safe pedestrian and car circulation”. Original article.