Coporgest to invest €116 million in Tróia

Coporgest to invest €116 million in Tróia

Coporgest, a Portuguese real estate development firm, is to develop a new luxury tourism resort project on the Tróia peninsula near Setúbal.

The developer plans to invest €116 million in a resort including a five-star hotel, 91 apartments, 38 detached houses and/or villas.

A period of public consultation for the development plan will be open until March 23, 2022.

The development will be built on a plot of land designated ‘Parcela 2’ and is earmarked for development in the Tróia Urban Plan.

The hotel will have 58 rooms, a spa, gym and various accommodation units including apartments and villas.

According to the Environmental Impact Study, the development “will follow the concept of a resort complex with various amenities and services including a pool, beach bar, tennis and padel courts, restaurants, and a kids’ club. There will also be an emergency heliport.

Coporgest was founded by CEO Sérgio Ferreira in 2004 starting with a balance of €1 million and today is worth around €110 million.

The founder told online news outlet Idealista that when he started the company, he’d been looking for a house in Lisbon to buy, but he found it difficult to find what he was looking for. At that time, there were hardly any rooftop apartments with swimming pools, with top-quality fixtures, fittings, and finishes. The quality of the properties was bad in terms of sound proofing, insulation and heat control.

This inspired him to position Coporgest as a pioneer in quality which implied a higher price for top quality.

“Before the 2007-2014 crisis, there were two essential changes: we had built a larger team with a broad experience regarding quality build, and our focus centred more on overseas HNWIs who have changed the market over the past decade,” Sérgio Ferreira told Idealista.

Since 2004, the company has delivered around 20 projects in Lisbon, two of the latest including the Alves Cabral Premium Apartments, on Avenida Álvares Cabral, and the SottoMayor Premium Apartments, in Largo das Palmeiras.

More property news at www.essential-business.pt

Source: https://www.essential-business.pt/2022/02/16/corporgest-to-invest-e116-million-in-troia/