The investment in the project is estimated to be around 1.4 million euros.

The contract was signed this week between the municipality and the IHRU – Institute of Housing and Urban Rehabilitation, with the presence of ministers Miguel Pinto Luz, of Infrastructure and Housing, and Castro Almeida, Deputy and Cohesion Territorial.

The works will be carried out in the building located on Rua de São Paulo, located on a plot of land measuring 353.01 square meters.

“The property is in a poor state of conservation, so the work will focus on a structural level, on the facades, coverings and interior floors, as well as on the renovation of the water, sewage, electricity and telecommunications infrastructures, which are obsolete” , says the Loulé Chamber.

The total investment in the seven properties is around 1.4 million euros, with financing of 429,922.65 euros.

Three dwellings approved by the PRR are intended for supported rental and the remaining four for affordable rental.