Âncora Investments has partnered with PMA - Paulo Merlini Architects to develop two residential projects. One of the developments is located in Canelas, in the municipality of Vila Nova de Gaia, and the other in Águas Santas, in Maia.
The projects, currently in an advanced stage of planning and evaluation, are expected to total over 80,000 m² of above-ground construction and approximately 650 residential units, with the investment associated with these operations estimated at around 180 million euros—a figure that is expected to grow.
In the center of Canelas, a project is planned with approximately 49,000 m² of construction and about 400 units, incorporating green spaces and shared areas. In Águas Santas, in the Caverneira area, the development will cover approximately 33,000 m² and include about 250 residential units.
Construction is expected to begin within the next 12 months and will be carried out in phases over several years.
According to Tamir Luria, Partner at Âncora Investments, “Our goal is not just to build units, but to create cohesive residential environments that generate long-term value.” She added that “collaborating with PMA allows us to align the architectural vision with commercial and financial objectives from the outset, ensuring high-quality housing solutions and sustainable value.”
Rúben Calado, Partner and Chief Business Development Officer at the architecture firm, notes: “The partnership with Âncora Investments allows us to integrate architecture and investment analysis from the earliest stages, ensuring more coherent and distinctive projects. The earlier we enter the process, the greater the value we can generate, combining architectural vision with financial and technical feasibility. That is why we position ourselves as an architecture firm with a business vision, and not just as a creative studio.”
Tamir Luria also states that “The phased approach to these developments allows us to align the pace of execution with demand and ensure disciplined investment management, while guaranteeing the quality of the final product and consistency in delivery.”
Elad Shachar, Partner, emphasizes that the goal is “to structure projects that are sound from both a financial and operational standpoint, working with the right partners from the outset to maximize the potential of each asset.”
PMA - Paulo Merlini Architects, for its part, reinforces its position as a strategic partner in real estate development, getting involved from the initial stages of asset analysis.
For Rúben Calado, when we are involved “in the due diligence phases and in the structuring or validation of business plans, we ensure a smooth transition between strategy and execution. We have a deep understanding of the operation: the financial assumptions, the legal constraints, the red lines, the risks to be mitigated, and the return objectives. This integrated perspective allows us to start the project with a level of strategic insight that makes the entire process more assertive, predictable, and efficient, reducing rework, anticipating obstacles, and protecting margins. In short, although we are formally service providers, we act as business partners.”
He added that “In the Vila Nova de Gaia project, we have been involved in the operation from the very beginning, contributing to its overall structuring. In Maia, despite joining at a more advanced stage, we were able to optimize and validate the business plan, reinforcing its technical and financial consistency.”
Photo credit: © project in Canelas (as seen on RE Portugal)
Translated with DeepL.com (free version)
