Located in the center of Guimarães, with an area of almost 110,000 square meters, the latest urban project by the owner of the Moov hotel chain will include housing, commerce and services.
The Endutex Group, a producer of technical textiles, continues to invest in the real estate market. This time it is going to start building a mega urban project in the center of Guimarães. The first phase of the project starts this month.
The 110,000 square meter plot, which is the result of a 2.5 million euro investment by the Tirsense group, is located in Monte do Cavalinho, in the parish of Urgezes, and includes the construction of housing, spaces dedicated to commerce, restaurants and services , as well as an area with more than 64,000 square meters of green space.
“Guimarães is a city we know well and this location is exceptional. As well as being very close to the city center, it’s next to the train station, has unique views and great accessibility. The project is low-density, has up-to-date infrastructure and a large green space. The diversity of functions will make this area a new centrality and not just a dormitory,” says André Ferreira, director of the Endutex Group.
In a statement, the group led by Vimaranense businessman Vítor Abreu said that the first phase of work will start this month and will last nine months. This phase will be entirely dedicated to the subdivision of the land, with the construction of roads, sidewalks, parking lots and all the necessary infrastructure. Subsequently, the ten licensed plots will be built – two for restaurants, three for services and five for housing – whose diversity of activities “becomes an asset for the region”.
“The proposal calls for the first floors to have a variety of uses, from stores to restaurants, with the aim of avoiding isolation and its negative effects when allotments are exclusively for housing. The plurality of functions helps to establish complementary activities, as well as energizing the surrounding public space, providing a good transition with the central area of the city, extending and enriching it,” stresses the director of the Endutex Group.
Founded in 1970, the Endutex Group, which is one of Europe’s leading producers of textile coverings, has diversified into the real estate and hotel sectors, owning the Moov hotel chain, which has five units in Portugal (Porto, Lisbon, Oeiras, Évora and Matosinhos) and two in Brazil (Curitiba and Porto Alegre).
At the end of last year, the Endutex textile group bought the historic Rialto building, known as Porto’s first skyscraper, to convert it into a hotel and apartments. The Tirsense group is also building a second hotel in Matosinhos, for an investment of around 16 million euros, which should open next year.
