Belgians invest €100 million in residential project in Gaia

 In Development, News, Original, Property

The residential project Gaia Hills developed by the Belgian groups Promiris and Thomas & Piron was officially presented on Thursday in Vila Nova de Gaia, Porto.

With off-plan sales currently underway, work on the project is expected to start in the last quarter of the year with the cost of apartments ranging from €250,000 and €1.7 million.

The development will be located on the river front and is aimed at middle and upper middle class families.

The project will contemplate the construction of eight buildings with four and five floors spread out over four plots of land, providing a total of 251 one-to-five bedroom apartments.

The areas of the apartments vary between 62m2 (T19 and 278m2 (5) with the average sale price at €4,800 per square metre. All of the apartments will have spacious terraces with a view over the River Douro, Porto or the local Urban Leisure Park.

The first phase of the project will be completed by the end of 2026 while the second phase is planned for 2027 with work expected to be completed in 2029.