Following the successful development of Mabor and Feitoria in the Portimão area, Carvoeiro Branco initially withdrew from further investment in this region, maintaining a strict policy against it. Nevertheless, after engaging in productive discussions with Mr. João Gamboa, the Head of Urban Development in Portimão, who, according to the company “recognised the substantial potential of this project”, the company decided to embark on this new project.
The acquired property boasts 8,000 square meters of land, with an existing building spanning 5,900 square metres. It is located in the Zona Ribeirinha of Portimão, an area in the Algarve with “promising growth prospects”.
According to the company: “The vision for the São José Sardine Factory is to transform it into a thriving residential community, offering modern and comfortable living spaces. The project aims to deliver a minimum of 15,000 square metres of residential area, accommodating an estimated 140 to 180 residential units”.
Founder and CEO of Carvoeiro Branco, Erik de Vlieger, states: "While we are eager to embark on this exciting journey, we anticipate that obtaining the necessary construction permits will take approximately 12 months from now." However, this timeline is subject to the urban development processes overseen by the Câmara of Portimão.
At present, Carvoeiro Branco is overseeing more than 20 ongoing developments throughout the Algarve region and beyond.
“We believe that this venture will not only honour the heritage of the São José Sardine Factory but also bring modern, vibrant living spaces to this thriving area of the Algarve.”