The technology company expects construction to be completed by the end of 2026, with a renovation that aims to preserve the history of this "emblematic building that has always had a history linked to beer," Present Technologies co-founder Vítor Batista told Lusa news agency, adding that the project includes commercial and restaurant space on the ground floor.

The company, which is celebrating its 25th anniversary, purchased the building about three years ago, where the first factory of the Companhia de Cervejas de Coimbra was initially located, which later moved its production to the Pedrulha area.

The investment, whose specific amount company officials chose not to disclose at this time, seeks to "respond to the company's growth in recent years," in a city where "there is a lack of spaces for this purpose," said Vítor Baptista.

"We would have liked it to be different, but we decided to invest because we didn't have many alternatives," he stated.

The urban rehabilitation project proposed for the building by Present Technologies received a favourable opinion from the Coimbra City Council at Monday's executive meeting, which was intended to prepare a request for financing under an instrument that supports this type of intervention.

According to Paulo Martins, also a co-founder of the company, Present Technologies is currently headquartered at the Pedro Nunes Institute and needed more space to grow, considering the area of Emídio Navarro Avenue, where the Mondego Mobility System will eventually pass, "an ideal location."

For Vítor Batista, having the SMM right on the doorstep and the ease of access ensures "better conditions" for the company's attractiveness, which has enjoyed a "ten-year cycle of significant growth," with a focus on internationalization.

"In the last five to six years, we've experienced 25% to 30% annual growth," he noted, adding that the property they will renovate includes a building at the back that won't be renovated yet, but could be in the future if the company, with around 100 employees, continues to grow.

"We want to maintain this growth rate," he emphasised, noting that around 70% to 75% of revenue is related to the foreign market for a company dedicated to software development, working in areas as diverse as space, finance, automotive, and security.

The company has most of its employees in Coimbra, but also has offices in Porto and Sertã.