Property developer LandCo and Aedas Homes have signed a strategic alliance to develop a unique project in the Portuguese Algarve. The two companies will build an initial residential tower with 116 homes in Portimão, named Ribamar, situated opposite Praia da Rocha and only 100 metres from the sea.
This operation marks the first collaboration between the two companies, with the potential to expand the development to a further three towers, which would represent a total of around 500 homes if current demand continues.
A partnership with a long-term vision
The agreement is the result of several months of work and the creation of a joint venture between the two companies. The initial project involves the construction of a 16-storey tower on land held within LandCo’s portfolio, with a residential construction area of 14,000 sqm and 2,200 sqm for commercial use. The expected turnover exceeds €70 million.
The Ribamar project will offer one- to four-bedroom homes, large balconies of up to 60 sqm, and extensive communal areas including a swimming pool, gym, spa, social club, solarium, children’s area and coworking space. Its prime location in one of the last high-rise development areas on the Portuguese coast provides significant added value for both national and international buyers.
Active marketing and construction in 2026
Marketing of the project is already under way, with positive prospects for uptake. Construction is scheduled to begin in the second quarter of 2026.
This agreement strengthens LandCo’s strategy to diversify its traditional business activity – based on land management, transformation and sales – by adding a new direct property development line, supported by co-investment agreements and third-party asset management.
For its part, Aedas brings to the project its expertise in selling to international clients and its position as one of the leading residential developers in the Spanish market.
Currently, LandCo manages a portfolio of 3,200 properties, comprising its own portfolio of over 1,500 properties and the management of other residential developments in collaboration with strategic partners.
