Developer Soccal & Vaz Announces €50 Million Investment for Three Residential Projects in Sines
The Portuguese development company Soccal & Vaz has announced a significant investment of approximately 50 million euros to construct three new residential developments in the city of Sines. The project, spearheaded by founder and CEO António Vaz, aims to address the rapidly growing housing demand in the Alentejo coastal city, which is currently undergoing a major transformation into a key industrial and technological center for Portugal and Europe. The construction is set to begin with the first and largest of the three projects, named “Brisa Mar,” in September 2025.
The investment is a direct response to the massive industrial projects slated for the region, including the installation of several large-scale data centers, the new battery factory for the Chinese company CALB, and the expansion of the port with the new Vasco da Gama terminal. These initiatives are expected to attract thousands of new workers and residents, with António Vaz stating that the city's population of 14,000 is projected to triple within the next three years. “There is a very large demand in Sines, sobretudo da parte do consumidor,” Vaz explained, emphasizing that the demand comes primarily from end-users rather than speculative investors.
The three planned developments will introduce a total of 432 new housing units to the Sines market. The “Brisa Mar” project will consist of 188 apartments, followed by the “Mar Salgado” development with 164 units, and a third project with 80 units. The apartments will range in size from 90 to 120 square meters, with prices set between 220,000 and 380,000 euros, targeting the professionals and families moving to the area for employment in the new high-tech and industrial sectors.
The initial phase of the “Brisa Mar” development, comprising 100 apartments, will be financed entirely with the company's own capital, a decision Mr. Vaz attributes to the heavy upfront investment required. The full completion of this first building, which will feature four floors of T1 to T3 apartments, parking, and gardens, is scheduled for 2027. The developer also highlighted a commitment to using nationally sourced construction materials, including tiles and carpentry from Portugal's northern region.
Soccal & Vaz, a holding company founded in 2021, acquired the land for this large-scale construction between 2022 and 2023, anticipating the housing shortage. The company's move reflects a broader trend of real estate development in Sines, which is increasingly capturing the attention of investors. Just last month, venture capital firm Admar SCR announced a ten-million-euro investment in a housing complex named “Lumin,” designed for corporate professionals in the region.
The planned projects by Soccal & Vaz represent one of the most substantial residential investments in Sines to date, signaling strong confidence in the city's economic future. As Mr. Vaz, a native of Sines, concluded, “Sines needs these investors. It is an extremely industrial city that combines industries with the phenomenal landscapes and zones of the Vicentine Coast.” The developments are poised to play a crucial role in supporting the city's strategic growth and providing necessary infrastructure for its expanding population.
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