PRESS RELEASE
Lagoa, 30 January 2025
CARVOEIRO BRANCO AND ANTRIX ANNOUNCE ACQUISITION OF THE FORMER BELAOLHÃO FACTORY AND LAUNCH A €300 MILLION PROJECT
Carvoeiro Branco is pleased to announce the acquisition of the former BELAOLHÃO Factory, following the takeover of the purchase position from a UK-based investment group The acquisition was finalised on 27 January with the Olhão Municipal Council, reaffirming the company ’ s commitment to significant impact projects in the Algarve region
With an ambitious transformation plan in front of the marina of Olhão, the former 20 000m2 factory will be redeveloped into a mixed-use project, incorporating residential and tourism components This development will feature around 500 apartments and a luxury hotel unit, with a total construction area of approximately 70,000 m²
The project, with an estimated business volume of approximately €300 million, will be developed by ANTRIX, the sister company of Carvoeiro Branco This newly established real estate development firm aims to expand the group's presence beyond the regional level, building on its 1,400 units already in the pipeline, to establish a strong footprint across the Iberian market ANTRIX is already in negotiations to develop additional projects in Lisbon, Montijo, Setúbal, and southwestern Spain
Erik de Vlieger, CEO of Carvoeiro Branco, highlighted the strategic importance of this investment: “We are committed to creating a development that redefines standards of luxury and quality in Olhão, providing residents and visitors with a unique experience This project is a testament to Carvoeiro Branco’s dedication to the economic and social development of the region ”
Reflecting on the journey of this project, António Miguel Pina, Mayor of the council of Olhão, shared, “We are pleased to have completed what was a major challenge we took on around six years ago, when we decided to buy that space, transform it, and create an anchor project for the development of the eastern part of the city ”
The development in Olhão not only aims to enhance the urban landscape but also aligns with the ongoing requalification efforts undertaken by the Olhão Municipal Council As António Miguel Pina, mayor of Olhão emphasized: "This project promises to reinforce not only the urban landscape but also the requalification efforts that the City Council has carried out in that area of the city, namely the renovation of Avenida 16 de Junho, which has expanded and enhanced the riverfront "
Link for Camara Municipal de Olhão Press Release: https://cm-olhao pt/27983/concretizada-venda-da-belaolhao
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Erik De Vlieger, CEO of Carvoeiro Branco, shaking hands and closing the deal with António Miguel Pina, Mayor of Olhão together with Mick de Vlieger (Son & Shareholder) and Carlos Prazeres (Lead Engineer)
Factory BelaOlhão - Project Impressions Olhão