AEDAS Homes and LandCo invest €125 million in Ribamar project

AEDAS Homes, a Spanish developer, has teamed up with LandCo, a Santander Group company specialised in the integrated development of parcels of land and urban planning, to launch its first joint project in Portugal.

The chosen place was Portimão in the Algarve where the partnership will develop Ribamar, a residential block just 200 meters from Praia da Rocha.

The project foresees the construction of 116 apartments, between one and four bedrooms, all with private balconies of up top 60m2.
The project also includes an option to buy another plot of land adjacent to LandCo where a further 116 homes can be built “if demand remains active and sustainable”, according to the developers.

In statements to the Lusa agency, cited by Algarve Primeiro, a source close to the project revealed that the total expected investment for the two first towers, including the one presented at the end of July, and a second that could advance depending on demand, exceeds €125 million.

The commercialisation of the development has already begun, with its construction scheduled for completion in 2Q of 2026.