AM48 Begins Construction on €20 Million Ceramium Building in Aveiro with 40% of Units Sold
The developer AM48 has announced that construction will begin on October 1, 2025, for the Ceramium building, the second residential phase of its Foz de Prata project in Aveiro. The construction represents an investment of approximately €20 million and is scheduled to take 20 months to complete. The company also reported that 40% of the building's residential units have already been sold.
The Ceramium building is a key component of the larger Foz de Prata development, a €150 million urban regeneration project located in Aveiro. This project encompasses 11 lots with a total of 80,000 square meters of construction area. The start of work on Ceramium follows the completion of the development's public spaces, which were handed over to the Aveiro Municipal Council in June 2025, and the ongoing construction of the first residential building, Ethula.
The project specifications for Ceramium detail 33 residential apartments, with typologies ranging from one-bedroom (T1) to five-bedroom (T5) and private areas between 65 and 314 square meters. The building will also feature several exclusive amenities, including a coworking space, a pet care station, and a private garden exceeding 400 square meters that will house a playground and a fire pit area.
Francisca Martins, an administrator at Grupo AM48, stated, “We launched the Foz de Prata project at the end of 2023 with an ambitious plan that we are fulfilling, demonstrating to the city and to everyone that good projects are necessary, but they cannot just stay on paper. It is important to execute.”
Sustainability is a central theme of the development. The Foz de Prata project is the first in Portugal to be registered for LEED-ND (Leadership in Energy and Environmental Design - Neighborhood Development) certification. The Ceramium building itself is targeting LEED-BC certification. Martins added, “Sustainability remains the foundation of the project in all its execution and cannot be just a buzzword. We want to go beyond what is required by law, to create high-quality living spaces with the lowest possible environmental impact throughout the entire life cycle.” The project incorporates features such as solar panels, green roofs, rainwater harvesting, and charging stations for electric vehicles, while promoting pedestrian mobility by eliminating surface car traffic.
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The overall Foz de Prata master plan includes a hotel unit with approximately 155 rooms, a medium-sized commercial surface, and additional retail and service spaces. An associated public works project, already awarded, will involve the extension of the adjacent Canal de São Roque, creating a new bay and docking areas for the traditional moliceiro boats.
The strong pre-sale figures for Ceramium suggest significant market interest in the Aveiro region, which is located outside the primary real estate markets of Lisbon and Porto. The project's focus on high-quality construction, sustainability, and integrated community amenities appears to be resonating with buyers. The developer, AM48, has positioned Foz de Prata as a landmark project for the city, combining modern living with environmental responsibility.
The investment of €20 million in this single building is part of the larger €150 million commitment to the area, signaling strong developer confidence in the long-term economic prospects of Aveiro. The project is expected to create local employment during its construction phase and contribute to the local economy upon completion through its residential, commercial, and hospitality components.
The architectural design of Ceramium and the broader Foz de Prata project aims to integrate with the local landscape while providing modern infrastructure. The absence of surface vehicle circulation is a notable feature, intended to create a healthier and more community-oriented urban environment. The project is scheduled for full completion in stages over the coming years.
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