New Luxury Residence Near Porto’s Iconic Beach
Joint Venture between AEDAS Homes and LandCo
Project Overview: 116-Unit Ribamar Tower
- Location: Just metres from Praia da Rocha beach in Portimão, Algarve.
- Developers: Spanish developer AEDAS Homes paired with Santander‑owned LandCo.
- First Collaboration in Portugal marking a pioneering joint venture.
- Construction Schedule: Expected to commence in the second quarter of 2026.
- Marketing Phase: Already underway, with units actively promoted.
Luxury living just steps away from Praia da Rocha
Ribamar: A €125‑Million Innovation on the Algarve
The new Ribamar development, set on a plot already owned by LandCo, aims to attract both local and international buyers by offering a wide range of one‑to‑four‑bedroom homes. Each apartment will feature a private terrace of up to 60 m², and the 16‑storey tower will deliver:
- 14,000 m² of residential space
- 2,200 m² of commercial facilities
The “Premier Residential Experience”
According to The Portugal News, Ribamar is designed to provide a first‑class living environment, with the following communal amenities:
- Swimming pool
- Gym and spa
- Solarium and children’s area
- Social club
- Co‑working space
Future Expansion Plans
LandCo and AEDAS are already exploring the possibility of a second tower on an adjacent plot, should demand remain strong. The overall site includes four plots, offering the potential to build nearly 500 homes.
A spokesperson told Lusa that the first two towers alone could represent a combined investment of over €125 million, with the first tower projected to generate more than €70 million in revenue.
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