Portuguese-Israeli groups to invest €20 million in converting factory into hotel and housing

The TPS and Youropa groups are to demolish a dilapidated property that had been an iconic bicycle factory in Vilar founded in the 1920s in Porto, which will now make way for a 31-room hotel and 40 residential units.

Youropa Real Estate is a partnership between Youropa Real Estate and the TPS Group and was founded in 2020. It is developer with real estate investments in both Portugal and Israel, collaborating with the TPS Group, one of the largest real estate developers in Portugal.

One example of this collaboration was the Jardim do Marques project in Porto in the historic centre of the city close to the Marquês metro station and Rua de Santa Catarina, an area with a strong demand but low supply of apartments.