The property developer Carvoeiro Branco and the construction company Teixeira Pinto e Soares (TPS) have announced the formation of a new property development entity as an equal joint venture.
Carvoeiro Branco will be responsible for the management and development of the projects, while TPS will oversee the execution and construction. Both companies will participate in the associated investments.
The new company is launching with a portfolio of three projects in the Algarve, comprising a total of 724 residential units across the municipalities of Lagoa, Portimão and Faro.
Carvoeiro Branco contributes its portfolio of 32 active development sites in the region and TPS brings the construction expertise required to deliver large-scale, complex residential developments with proven technical rigour.
“The formation of this partnership represents a strategic milestone for TPS. Together, we will develop residential projects of genuine quality and consolidate our position in the national market”, said Bruno Soares, from TPS.
“The strategic alliance with TPS allows us to significantly scale up our execution capacity, consolidate our market position and accelerate our ambitions in Portugal. What truly excites us is the potential of this collaboration, its depth and its longevity”, noted Erik de Vlieger, from Carvoeiro Branco.
