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ARC Homes arrives to Porto and wants to invest 100 million in 500 houses

ARC Homes arrives to Porto and wants to invest 100 million in 500 houses
Idealista · 10 Feb 2021
Catalan ARC Homes arrived in Portugal with an investment plan that foresees the purchase of land for the construction of a park of 500 houses in the city of Porto, in an investment that will be around 100 million euros.

According to Agência EFE, the first project is located in the neighborhood of Prelada, where 156 houses (one-bedroom to three-bedroom) will be built, whose minimum price will be around 140,000 euros. The venture will represent an investment of 30 million euros, this being the first of three acquisitions that the promoter wants to make during 2021.

"While the real estate companies that have invested in Porto in the last 10 years have done so in luxury hotels, in tourist houses and luxury accommodation for foreigners, in office complexes ... practically nobody has done it thinking about accessible houses", comments the director - Arc Homes executive Jan Maarten Goedemans, cited by the publication.

The sale of this first promotion should start between April and May this year, and the company responsible for the process will be Capital Urbano.