Fortera has announced the commencement of the first phase of construction of the Alive Riverside project, located on the banks of the Douro River in Vila Nova de Gaia. The budget for the first phase is 40 million euros, but the total investment amounts to 110 million euros.

This project consists of 126 apartments from T1 to T5, and the company has already guaranteed, by the end of 2022, that 50% of the fractions available for sale will be put up.

“We wanted to implement our innovative Alive by Fortera concept in Portugal, and now we are taking the first step to make this vision a reality,” says Elad Dror, CEO of the company.

In this undertaking, Fortera intends to create infrastructures in its buildings, such as a series of new services and “amenities” that make people’s lives easier and can meet the new way of being and living.

“Adherence to this new concept shows us that people need a new way of living, with more closeness and coexistence,” the same official affirms.

The Fortera Group presents the “Alive by Fortera” concept in Portugal, which represents an initial investment of around €110m, which has already started, and an expected global investment of €500m in five years, in 1,000 new homes.