The Funchal City Council (CMF) today approves the rehabilitation of the Insular quarter. It is the favorable opinion of Culture and allows the project ‘Savoy Residence Insular’ to start.
The 60 million euro investment by Savoy, an AFA Group company, includes 47 luxury apartments and commercial stores. The intervention was authorised today at the weekly meeting of the local authority that considers the urban operation as relevant to the local economy.
It was almost two years ago when this building caught fire in downtown Funchal.