New 800-Unit Residential Project 'Horizon' Announced for Loures, Lisbon
GNB Gestão de Ativos, SGOIC, SA, has announced a major new housing development named Project Horizon, to be located in Prior Velho in the municipality of Loures, at the edge of Lisbon. The project, which is being brought to the market by the consultancy Dils Portugal, will feature 800 apartment units. The development is a direct response to the high demand for middle-class housing in the Lisbon Metropolitan Area. The announcement was made via a formal press release detailing the scope and strategic importance of the project for the region's housing supply.
The project specifications outline a significant development with a total above-ground construction capacity of 103,931 square meters. Of this, 91,459 square meters are designated for residential use, with the remaining 12,472 square meters allocated for commercial and service spaces. The project is divided into two main plots, designated A and B. Plot A is reported to be in the final stages of the approval process, indicating that construction could begin in the near future. The development is integrated within the existing Urban Execution Unit of the Prior Velho Detailed Plan, ensuring it aligns with local urban planning strategies.
The construction timeline is phased, beginning with Plot A once final approvals are granted. While a specific start date for construction has not been released, the advanced stage of the approval process for the first plot suggests that work is imminent. The project's large scale implies a multi-year construction period to complete all 800 units and the associated commercial areas. The development aims to deliver a high-quality living environment to meet the needs of the domestic market.
The architectural design will focus on modern living, with apartments offering views of the Tagus River. The urban planning framework for the area ensures that the project will be well-integrated into the surrounding community, with access to green spaces and essential services. Gonçalo Santos, Head of Development at Dils Portugal, described the asset as 'especially attractive for providing a quality response to the housing needs of the great Lisbon's middle class,' citing its location, scale, and urban context as key strengths.
The project is financed by GNB Gestão de Ativos, a notable asset management firm, which provides a strong financial backing for the development. The decision to bring the project to market indicates confidence in its viability and in the continued strength of the Lisbon property market. The involvement of Dils Portugal, a reputable real estate consultancy, in marketing the project further underscores its significance and professional management.
The project is proceeding under the Prior Velho Detailed Plan, which means it has already undergone significant local planning review. The final approval for Plot A is the last major regulatory step before construction can commence. This adherence to the local master plan ensures that the development will meet all municipal requirements for infrastructure, public spaces, and building standards, which should streamline the final stages of the process.
The development is expected to have a substantial positive impact on the local economy of Loures. The construction phase will create numerous jobs, and the subsequent population increase will support local businesses and services. By adding 800 new homes, the project will also help to alleviate some of the housing pressure in the broader Lisbon area, contributing to market stability. The inclusion of 12,472 square meters of commercial space will further boost local economic activity.
There is strong pre-existing market interest for this type of housing product. The demand for middle-class housing in well-located areas near Lisbon far exceeds the current supply. Project Horizon is strategically positioned to meet this demand. Its proximity to Parque das Nações, a major business and leisure hub, and its excellent transport links via the A1, IC17 (CRIL), and Segunda Circular highways, make it a highly desirable location for professionals and families.
The development will be connected to all necessary infrastructure, including roads, public transport, and utilities. The location in Prior Velho is already serviced by essential infrastructure, and the detailed plan for the area includes provisions for any necessary upgrades to support the new development. Future residents will have pedestrian access to schools, parks, and various local services, enhancing the quality of life.
The construction will adhere to high-quality standards to deliver a premium residential product. The focus is on creating a viable and attractive housing solution that meets the expectations of the domestic market. The combination of a strategic location, thoughtful urban planning, and strong financial backing positions Project Horizon as a landmark development for the Lisbon Metropolitan Area, set to provide a significant number of new, quality homes. Monitor new development opportunities at realestate-lisbon.com.
