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Montepio will invest 25 million in downtown Porto – Imobiliário

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About 25 years after the start of the subdivision operation of the so-called Quinta do Pinheiro, located in the historic center of the city of Invicta, the Associação Mutualista Montepio was finally able to see the approval of the construction projects of six residential buildings to the space that was once the seat of Porto’s academic school.

The contract for the project was signed this Thursday, March 10, with the construction company Famalicense Gabriel Couto, according to Associação Mutualista Montepio, in a statement in which it does not reveal the value of the overall investment, but Negócios knows that it is around 25 million euros.

“In all, there will be 117 apartments and 192 parking spaces, mainly intended for the rental market, and aimed at meeting the housing needs of Montepio members”, explains the developer.

With this operation, the Associação Mutualista Montepio “returns to investing in the construction of buildings intended for rental”, in what it considers “a strategic option, which guided many investments of this Association between the 1930s and sixty of the last century, some of them in the city of Porto, as is the case of the buildings in Avenida dos Aliados, Rua Magalhães Lemos and the building in Rua Júlio Dinis”.

However, “in accordance with the objectives of this investment”, the Associação Mutualista states that it is “already studying the project for the requalification and rehabilitation of part of the block where the historic building of Montepio Geral is located, in Avenida dos Aliados and Rua Magalhães Lemos”.

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