Dutch group Ten Brinke to invest €18M in Portugal

Dutch group Ten Brinke to invest €18M in Portugal

Dutch group Ten Brinke is preparing to invest around 18 million euro on a new 13.000 sqm project in Viana do Castelo, on terrains from former carpet factory Somartis, closed since the 1960’s, where a hotel, a supermarket and a restaurant will be built.

Francisco Coelho, project director at Ten Brinke Portugal, advanced to Lusa press agency that «we expect to start construction around mid-June so that we can, until the end of the year, conclude at least two of three structures: the supermarket and the restaurant», which will be operated by a fast food chain, whose name was not disclosed.

According to Francisco Coelho, the allotment project was already approved by the municipality of Viana do Castelo and the company can now «acquire the terrains, although we still need to present the allotment’s urban project so as to obtain the construction permit», quoted Rádio Alto Minho.

New Matosinhos B&B opens in March

This is the Dutch group’s second investment in Portugal. Ten Brinke is also working on another 10 million euro project in Matosinhos which will include a three star B&B hotel, and which should open in March, according to Francisco Coelho.

This project was announced in September 2019, when Jörg Tiggeman, Ten Brinke’s managing director for Spain and Portugal, advanced, during the project’s presentation, with the group’s «strong bet» in Portugal, where the company expects to «strongly increase its presence in the coming years».

Ten Brinke has been present in Spain for more than 10 years, where it specialised in developing housing assets and retail parks. Without a proprietary vocation, Ten Brinke’s business model is to develop real estate assets and seek an investor who will acquire and manage it.

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