Grupo Mais Announces €7.6 Million Waterfront Development in Nazaré
The real estate developer Grupo Mais has officially announced a significant investment in Nazaré, formalizing a deal valued at €7.6 million to acquire two plots for a major urban requalification project on the town's waterfront. The announcement was made public earlier today, confirming the developer's plans to significantly enhance the tourist infrastructure in the world-famous surfing destination. The project is set to increase both residential and high-end tourist accommodation in a prime location of the town, known for its iconic "canyon" waves.
According to a company spokesperson, the investment is divided between two key construction projects. One plot is designated for a mixed-use building which will comprise 31 individual units. The structure is planned to have six floors above ground level and two subterranean floors for parking and services, with a total construction area of 6,294 square meters. This building is intended to offer a mix of residential apartments and commercial spaces, addressing a growing demand in the area.
The second plot will be dedicated to the development of a five-star hotel, a significant addition to Nazaré's hospitality offerings. This facility will feature five floors of guest accommodations and amenities, along with two basement levels, covering a total construction area of 10,301 square meters. The project's specifications were first detailed in a report by the national business newspaper ECO, which highlighted the scale and ambition of the development.
This move by Grupo Mais reinforces its strategic focus on high-potential coastal areas in Portugal. "This development is a cornerstone of our strategy to contribute to the urban and touristic enhancement of Nazaré," stated a representative from Grupo Mais. "We believe this project will not only meet the growing demand for quality accommodation but also respect and elevate the unique character of the Nazaré waterfront." The developer has a track record of projects that combine modern architecture with local environmental considerations.
The project has received preliminary approval from municipal planning authorities, who have been keen to attract investment that supports the town's economic diversification beyond seasonal tourism. The formal acquisition of the land now paves the way for the final architectural plans to be submitted and approved. The construction timeline is slated to begin in the first half of 2026, with an estimated completion date for both buildings by the end of 2028.
The investment is expected to have a substantial economic impact on the region, creating an estimated 150 jobs during the construction phase and over 80 permanent positions once the hotel and mixed-use building are operational. Local business associations have expressed optimism about the ripple effects of the project, from increased visitor spending to new opportunities for local suppliers and service providers. The introduction of a five-star hotel is particularly seen as a catalyst for attracting a new segment of international tourists to Nazaré.
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