Israeli Investors Announce €100 Million Luxury Residential Project in Gondomar
Shalu Investments, a real estate investment firm, has announced a €100 million investment in a new luxury residential development in Gondomar, in the Porto metropolitan area. The project, named O’rizon Living, will be situated at Largo Fonte Pedrinha, adjacent to the Freixo Marina and the Douro River.
The development is promoted by Itai and Dana Fridman, the founders of Shalu Investments, who relocated from Tel Aviv to Portugal in 2019. The project specifications detail the construction of 190 apartments on a 35,000-square-meter plot. The residential units will vary in size and layout, offering one-bedroom (T1) to four-bedroom (T4) apartments with floor areas ranging from 61 to 203 square meters. The project is designed to cater to the high-end market segment, with prices for available units starting at €552,967 for a two-bedroom apartment and extending to approximately €1.2 million for a four-bedroom unit.
The construction timeline indicates that the project is expected to reach completion in 2028. The architectural design includes a range of amenities for residents, such as an outdoor swimming pool, a gymnasium, a spa, a multifunctional lounge area, private parking facilities, and 24-hour security services. The development plan also incorporates communal features, including pedestrian pathways, private gardens, and leisure spaces.
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The commercialization of the project is being managed by real estate agencies Dils and Réplica. According to information available on their platforms, the one-bedroom units are no longer available, suggesting early market interest in the development. The investment by Shalu Investments represents a significant capital injection into the Gondomar real estate market and reflects a broader trend of foreign investment in Portugal's property sector beyond the capital city, Lisbon.
The project's location in Gondomar leverages its proximity to the city of Porto and the natural amenities of the Douro region. The development aims to combine modern living standards with a focus on community and privacy, as stated by representatives from the Réplica agency. This investment is one of the largest of its kind in the area and is expected to have a notable impact on the local real estate landscape upon its completion.
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