Chinese owned company invests in residential and commercial complex in Portugal

16 January 2018

A Chinese-owned company plans to invest about 64 million euros in the construction of a residential, commercial and wellbeing complex and in Estremoz, a city in the Alentejo region near the Portuguese border with Spain, local mayor Luís Mourinha said on Monday.

The mayor also told Portuguese news agency Lusa that the project, known as the “Concorde Enclave,” work on which is due to start this year, represents “the biggest investment ever in Estremoz,” with about 200 jobs expected to be created after it starts operating.

The investment is the responsibility of Prospect Time International Investment (Portugal), Ltd., headquartered in Elvas, whose parent company is Prospect Time International Investment Limited, headquartered in Hong Kong, China.

The mayor said the “Concorde Enclave” includes a health and wellness centre, a business centre, retail and hotel-related services, an entertainment centre, a residential complex, a medical centre and clinics, a restaurant and an arts centre.

The collaboration agreement between the Estremoz council and Prospect Time International Investment (Portugal) Lda, under which the municipality will transfer a plot of land of 7 hectares, was unanimously approved at the last municipal executive meeting. (macauhub)