Carvoeiro Branco, in partnership with Sigmund Capital, recently secured the acquisition of the São José Canning Factory, located in Portimão. The property has 8,000 square metres of land, with an existing building of 5,900 square metres.
The asset is strategically located in Portimão's Zona Ribeirinha, an emerging area in the Algarve with promising growth prospects. Carvoeiro Branco strongly believes in the potential of this region of Portimão, and this project reaffirms its commitment to its development.
The group intends to transform the former factory into a residential community, offering modern and comfortable spaces. The project aims to deliver a minimum of 15,000 square metres of residential space, accommodating around 140 to 180 residential units.
The founder and CEO of Carvoeiro Branco, Erik de Vlieger, says that "although we are looking forward to embarking on this exciting journey, we anticipate that obtaining the necessary building licences will take approximately 12 months from now". However, this timetable is subject to the urban development processes overseen by Portimão City Council.
Carvoeiro Branco hopes to breathe new life into this historic site and contribute to the evolution of Portimão's landscape. "We believe that this development will not only honour the heritage of the São José Sardine Factory, but will also bring modern and vibrant spaces to this thriving area of the Algarve," adds Erik de Vlieger.