Fortera Group to invest €500M in Portugal

The Israeli real estate development group Fortera will invest €500 million on 1000 homes over the next five years in real estate projects with a new concept called Alive.

Albeit the California-based materials technology company aims to have various developments across the country, Fortera’s will mainly focus on the North of Portugal and particularly Porto.

In an interview with Jornal Económico, the CEO and co-founder of the group, Elrad Dror said that the idea behind the Alive concept, which is likely to receive an initial investment of around €115 million, is to ensure that the building design, its technologies and activities are resident-focused.

The California-based materials technology company aims to have various developments across the country.

Pointing out that Fortera aims to revolutionise how people live and think about housing, Dror indicated that the Alive concept was reminiscent of the kibbutz and its voluntary collective communities in Israel and the Middle East.

The company founded in 2015 aims to become a leader in real estate development and management in Portugal, specialising in rehabilitation and renovation.

The company boasts of 17 projects with a built area of 146,730m2 backed by a total investment of €400 million with projects located in Porto, Vila Nova de Gaia and other adjoining areas of Portugal’s commercial capital.

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