The deal also includes the purchase of Nordzee Náutica, which operates the Angra do Douro Marina, in Gondomar.

The development will occupy an area of 213,000 m2 on the banks of the Douro River and will be completed by 2026.

It will include a five-star hotel with 120 rooms, conference rooms, a spa and swimming pools, in addition to 90 luxury villas, and the construction of a heliport.

The Angra do Douro Marina will be expanded, with the increase of anchoring capacity by 40%, from 300 to 500 boats.

The CEO of Horizonte Urbano, Nuno Esteves, said: ‘The project is an excellent solution for those who want to live outside major urban centres, but within a reasonable perimeter, which allows quick access to the supply of products, services and culture. More and more people are seeking a more tranquil type of life, with greater contact with nature and a beautiful landscape. Sustainability, together with innovation, professionalism and dedication, are an integral part of Horizonte Urbano's DNA.’

The urbanisation work should be completed in the first half of 2023, with construction of the hotel and luxury villas planned for 36 months.

This project promises to enhance and value the site and the region, leveraging tourism, given the proximity to the city of Porto and its strategic location on the route of the Douro region.

Among the flagships of the construction are the preservation of the natural characteristics of the location and native species, the use of sustainable materials, the placement of photovoltaic panels and glass with solar protection, the roof garden and the creation of large green areas.

Horizonte Urbano Group is mainly active in the residential, tourism and hospitality sectors, as well as property rehabilitation. The company’s project portfolio includes the Porto Oriental Residence, Vila Real Retail Parl Hotel, Penafiel Living Park and Living Arcela.