The Gaia City Council plans to launch the first calls for bids for the construction of middle-class housing by September. Initially, the homes built will be allocated to young people and students residing in the municipality, with rents starting at 460 euros.

Âncora Investments, owned by businessmen Elad Shachar and Tamir Luria, has acquired a real estate company that is currently developing a project with an approved above-ground construction area of 49,000 square meters, intended to build approximately 400 homes.

This strategic investment is part of the municipality’s new mobility strategy and aims to create new development hubs.

Vila Nova de Gaia will be home to Portugal’s tallest residential towers, the Haya Towers. The project, a partnership between real estate developers Krest and Glowing Merit, represents an investment of 150 million euros. Sales began this month, with 25% of units already pre-reserved.

The plan to extend the high-speed rail line to Porto and Gaia, including a new road-rail bridge over the Douro River and a station in Santo Ovídio, will be open for public comment until June 29.

The housing development in Vila Nova de Gaia, a joint venture between GRC IM and M20, is in the final stages of construction and is part of the premium residential segment. Consisting of three-bedroom homes, prices range from 950,000 to 1,475,000 euros.