According to a press release sent to The Portugal News, both companies announced “the formation of a new joint venture real estate development entity. The partnership is structured as an equal 50/50 venture, with Carvoeiro Branco leading project management and development, and TPS delivering construction and execution at scale.”

The new company will launch three residential projects, “located in some of the most sought-after addresses in southern Portugal — where Atlantic light, proximity to the Rio Arade, and centuries of coastal culture define the living proposition as much as the architecture itself.”

The projects

The projects will “span 724 residential units across prime Algarve municipalities — strategically positioned to serve the growing demand from European buyers and investors seeking premium quality homes in southern Portugal.”

While Carvoeiro Branco “brings its established portfolio of 32 active development positions across the region; TPS contributes the proven construction discipline required to deliver complex, large-scale residential schemes to the highest standard.”

Credits: Supplied Image; Author: Carvoeiro Branco;

In the same note, the companies highlight that the collaboration “is not a contractor relationship”, being the joint venture “structured as a shared company, built on aligned incentives and shared investment — a clear signal of long-term commitment from both organisations to the residential property market south of Lisbon.”

Bruno Soares, CEO of TPS – Teixeira Pinto Soares, quoted in the press release, states that the partnership “represents a strategic milestone for TPS. We are proud to join forces with Carvoeiro Branco — a company with genuine market presence, a proven track record, and values aligned with our own. Together, we will develop high-quality.”

The CEO of Carvoeiro Branco, Erik de Vlieger, in the same note, also highlights the benefits of the alliance between both companies: “Carvoeiro Branco currently holds 32 active real estate development positions. This strategic alliance with TPS allows us to significantly scale our execution capacity, consolidate our market position, and accelerate our ambition across Portugal. What truly excites us is the depth and longevity of what we can build together."