Vilamoura plans €1billion development

Vilamoura, the Algarve’s leading travel destination, has announced a €1billion masterplan for one of the largest real estate developments in Portugal.

One of the country’s most important travel destinations, Vilamoura boasts the award of best International Marina of the Year 2015, five world-renowned golf courses, magnificent beaches, and a range of four and five-star hotels, and the project presents a unique opportunity for investors to participate in the country’s strong economic and real estate recovery.

The plan comprises of a fully approved low-density gross construction area of 680,000sqm in a total development area of 4,000,000sqm. Eighteen development projects are available with development areas ranging between 1.5 hectares and 168 hectares, which will accommodate a mixture of residential, leisure, tourism and retail uses.

“Vilamoura is leading the charge and is proud to play a key role in this national renewal” – Paul Taylor

Vilamoura World is leading the transformation and is re-branding Vilamoura to reflect the diversity, aspiration and ambition of the new plan.

“We are very proud to be responsible for the next stage of Vilamoura’s transformation,” said CEO of Vilamoura, Paul Taylor. “We recognise that it’s already well-known as a major travel destination throughout Europe and our masterplan has a clear objective to transform this great location into the leading resort destination in the Algarve.

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“In the last few years, Portugal has made huge strides to attract international inward investment through fiscal benefits and the successful Golden Visa Programme. Vilamoura provides a major investment opportunity in the future of Portugal. The country is on the road to recovery, with Vilamoura leading the charge and proud to play a key role in this national renewal.”

At the forefront of the project are six lifestyle themes: Vilamoura Marina, Golf, Active, Villages, Estates and Lakes, reflecting the diversity and aspiration of Vilamoura’s customer base.

The Lakes theme is perhaps that most important as it looks to become one of the leading lake resorts in Europe. With 250,000sqm of natural lakescape, 1,900 residential units, five tourist-focused developments of 3,600 beds and first-class retail and gourmet restaurants, there will be plenty on offer within an environmentally considerate setting.

“The country has regained credibility and the confidence of foreign investors” – Antonio Pires de Lima

There are also details of the planned enhancement of the Marina area, which will have a prestigious new and iconic international Yacht Club, a branded spa and gym, together with three restaurants and a boutique shopping experience.

“Portugal is currently thriving on the momentum of hope and economic recovery,” said the country’s minister for the economy, Antonio Pires de Lima. “One key factor that has contributed to the consolidation of the Portuguese economy is the gradual increase in foreign investment, a clear sign that the country has regained credibility and the confidence of foreign investors. I believe that the Vilamoura project is another example of success and confidence in our country.”

Vilamoura :: Have you been?

Are you a frequent visitor to Vilamoura? If so, what do you make of these planned developments? Leave your thoughts in the ‘Comments’ section below.