Giant Housing Move from Portimão: 27.7 Million Euro Project Begins

We all feel closely how difficult the housing market has become, especially in recent years. In this period when rents are skyrocketing and finding a house suitable for your budget is almost impossible, the moves coming from municipalities inevitably attract attention. Finally, the Municipality of Portimão pressed the button on the largest public housing project ever built here. With this huge investment of 27.7 million euros, 204 new houses will be added to the region.

What are the Details of the Project?

This project, which will be implemented on empty lands in the Bairro Coca Maravilhas region, is carried out within the framework of Portugal's supported rental program. The aim is clear: to give breathing space to local families who cannot afford to rent a house on the private market.

The contract was officially signed last Thursday and construction is expected to begin within a few days. The distribution of this new living space, which will consist of a total of eight buildings, has been planned considering whether the family is crowded or nuclear:

T1 Flats: 23 units

T2 Flats: 140 units

T3 Flats: 41 units

The buildings will be four to five stories high. One of the best parts of the job is that not only houses are built; The eighth building is entirely dedicated to a community centre, offering municipal services and local support to make things easier for residents. In addition, new roads are being opened to facilitate transportation to the region.

How Will Financing and the Process Work?

Behind this huge investment is the "1st Direito" housing program within the scope of Portugal's Recovery and Resilience Plan (PRR). The contract price signed with the consortium that won the construction tender is around 26.13 million euros, excluding VAT, and the total budget is 27.7 million euros.

The completion time determined for the project is quite ambitious: Only 360 days. If the planned schedule is adhered to, these residences will be completed in a short period of one year from the start of the work.

Portimão Mayor Álvaro Bila also drew attention to the importance of the issue at the signing ceremony and emphasized that this investment is not an ordinary construction project, but will directly change the lives of 204 families.

Frankly, considering the housing crisis in coastal areas and tourist areas, it is extremely valuable for local governments to take such permanent steps. Let's see how this huge project will progress in the planned 360-day period, and we will see the results on the field together.

Source: Lusa / Portugal Resident (Inês Lopes)