Fortera Group invests 47 million euros in Bonfim area, in Porto

The Fortera Group, alongside Israeli Fattal Hotels and ISSTA Lines, each one holding one third of the share capital of the real estate, will build a five star hotel and 200 apartments in Bonfim, Porto, in a 47 million euro investment. The construction work should start this year, stated to Jornal de Negócios Elad Dror, Fortera's CEO.

The Invicta will see the construction work start this year, on land at the Bonfim area, which was purchased in August 2019, as "both projects should be concluded in the summer of 2023", stated Elad Dror.

Located at the Avenida Camilo, in front of Alexandre Herculano High School, a five star hotel will rise, with 258 bedrooms and approximately 16.500 square metres, in an investment of 27 million euros.

In the same quarter, facing Rua do Bonfim, Fortera will build a residential project of 20 million euros, with circa 200 apartments.

The real estate developer Fortera, of Israeli capital, will invest over 200 million euros in Porto and in Gaia.

Porto is a magnet for new business investment, drawing in people and investors from different parts of the globe, even amid the pandemic and as stated by Jornal de Negócios.

Porto is the Portuguese city with the highest number in investment projects and employment creation. Information and communication technologies and tourism are considered the driving sectors of the country's development.

Also, in the beginning of the year, The Guardian shortlisted 10 of the coolest neighbourhoods in Europe and Bonfim, in Porto, is spotlighted as number four, ahead of neighbourhoods in Warsaw, Rome or even Paris.