Royal Prime to invest €29M in new student residence in Portugal

Royal Prime to invest €29M in new student residence in Portugal

Royal Prime will invest 29 million euro on a new project within Urbanização dos Caldeirões, facing the Faculdade de Ciências e Saúde (Faculty of Sciences and Health) in Covilhã, which will include 267 units (for students and non-students) and other housing buildings for a total built area of 25.000 sqm.

João Alegria, from Royal Prime, explained to news agency Lusa that «we are talking about much more than a student residence. The idea is to have a central housing area capable of hosting 267 units, which can be used by young students, as well as investigators, teachers and others. We will also build an additional 100 housing apartments of different typologies».

The project will also feature other support facilities such as an indoor swimming pool, gym, events room, library, cafeteria, laundry, cinema room and game room, creating «a space with quality and Comfort, a concept we have already followed in other investments we have in the city in terms of rehabilitated buildings», explained João Alegria to the same source, quoted by RTP.

For Vítor Pereira, Covilhã’s City Mayor, this investment «is one more proof that the Covilhã municipality remains attractive for those who want to invest on accommodation, urban renewal and in several other segments».

Royal Prime has other ongoing investments at Covilhã and this project represents one more step towards consolidating its presence in this market. The goal is to «develop partnerships with local companies and economic agents, especially within the real estate and construction sectors», said João Alegria.

Construction for this new project should start during this year’s second semester and the investment will be carried out throughout the next 3 years.

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