TPS invests €100M in Portugal
Developer and builder TPS is to expand its business further afield in Portugal in real estate investments worth €100 million.
Teixeira, Pinto & Soares plans to achieve a turnover of €100 million by 2025 with a strategy focused on developments in three areas of the country: North, Greater Lisbon and the Algarve, and in growing the brand in the private projects segment.
The company from Amarante aims to gain scale in the Portuguese market where it sees big opportunities and big deals in segments such as university halls of residence through the holding under which it aggregates the shareholders of the Soares family with TSF headed by Bruno Soares.
Currently, Lisbon is responsible for 70% of its turnover where half of the 150 staff it employs are working, while 75% of its projects are public works.
TPS will now expand to the Algarve region where it has set up a building yard/office and will focus on private projects from there.
In Porto it has just delivered to the city council the rehabilitation of Batalha Cinema, an iconic building that will open its doors to the public on Friday.
In Lisbon its projects so far include the renovation of the Luís de Camões Theatre, and the Garcia de Resende Theatre in Évora.
The company also redesigned and extended the surgery block at Lisbon’s specialist cancer hospital, the IPO, (Pictured) among other projects.
In 2013 the company was a small one, with low structural costs which enabled it to overcome the crisis, by 2019 it was doing projects all over the country despite heavy logistical costs and so it has decided to consolidate in just three regions of the country.
In the Algarve it is currently involved in a senior residences project for the French Group Nexity budgeted at €23 million, and from January will begin work on an aerodrome in Tavira worth €3 million.