Shalu Investments Launches €100 Million Residential Project in Gondomar
The real estate investment firm Shalu Investments has announced a new luxury residential project in Gondomar, in the Porto metropolitan area, with a projected investment of €100 million. The development, branded as O’rizon Living, is being promoted by the Israeli investment couple Itai and Dana Fridman, who moved to Portugal in 2019. The project signals a growing trend of large-scale foreign investment in municipalities adjacent to Portugal's main urban centers.
The project will be developed on a 35,000-square-meter site located at Largo Fonte Pedrinha, strategically positioned near the Freixo Marina and the Douro River. The development will comprise 190 apartments with typologies ranging from one-bedroom (T1) to four-bedroom (T4) units. The apartments will have areas between 61 and 203 square meters. The architectural design focuses on luxury and community, incorporating extensive common areas such as an outdoor swimming pool, a private gym, a spa, a multifunctional lounge, pedestrian paths, and private gardens. The development will also feature private parking and 24-hour security services.
The construction timeline for O’rizon Living targets completion by 2028. The project is being financed by Shalu Investments, reflecting a significant commitment of private foreign capital to the Portuguese real estate market. Regulatory approvals for the development have been secured from the Gondomar municipality, allowing construction to proceed as planned. The project is designed to meet high standards of quality and sustainability, though specific environmental features have not yet been detailed.
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The local economic impact is expected to be substantial, creating jobs during the construction phase and contributing to the local economy upon completion. The development is positioned to attract both domestic and international buyers seeking high-end residential options outside of Porto's city center but with convenient access to its amenities. The project's location and luxury positioning are expected to set a new price benchmark for the Gondomar area.
Pre-sales for the development have already commenced through partner real estate agencies, including Dils and Réplica. According to sales information, the one-bedroom units are no longer available. Current pricing for available units starts at €552,967 for a two-bedroom apartment and extends to approximately €1.2 million for a four-bedroom apartment. This strong initial market response indicates significant demand for luxury properties in the region. The construction will be carried out by a selected contractor, with a focus on delivering high-quality materials and finishes consistent with the project's luxury branding.
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