In April 2022, Larmag acquired 138 hectares of prime development land in Sesimbra, Portugal. Sesimbra is located approximately 25 km south of Lisbon. In December 2022 Larmag received building permissions for the total development. The development will consist of hotels, golf courses and more than 120.000 square meters of residential buildings. The total development will be built with environment friendly buildings and landscaping.