Brazilians invest around €1 billion in Gaia’s ‘Silicon Valley’

  • ECO News
  • 24 January 2022

A Brazilian group wants to build an innovative "tech hub" in Vila Nova de Gaia, having already acquired almost 21 hectares of land.

Brazilian group GCMP – Gestão de Capital & Management wants to build an ecosystem in Gaia that resembles the famous Silicon Valley, according to Jornal de Negócios.

According to the newspaper, Gaia Innovation City will be a tech hub that will bring together the academic and professional worlds, with investors having already acquired almost 21 hectares of land currently occupied by a camping site, for €8 million.

The project presented to the Gaia City Council points to a €700 million investment, but a source familiar with the process told Jornal de Negócios that the investment should exceed €1 billion over the next five years.