Chinese company Prospect Time International Investment Ltd has set aside about €64 million (US$78 million) to build the Concorde Enclave residential complex in the southern Portuguese city of Estremoz, Lusa reports.

The Portuguese news agency quotes Mayor of Estremoz Luís Mourinha as saying so.

Mr Mourinha said construction should begin this year on 7 hectares of municipal land lying between the football stadium and the exhibition centre.

He said the investment would create about 200 jobs.

The housing complex will have a clinic, a health and wellness centre, a business centre, shops, a restaurant, entertainment facilities and an art space, Lusa says.