The development plan for the Vilamoura tourist complex, in Loulé, a project that will involve an investment of one billion euros, was presented this Tuesday. O master plan which was made known today, foresees the intervention in an area of 400 hectares, which will be achieved through 18 projects, all of them «ready for sale», in other words, open to those who want to invest.
This plan “includes a gross construction area of low density of 680 thousand square meters, fully approved, in a total implantation area of 4 million m2”, according to Vilamoura World, which manages this project. The development areas range from 1,5 to 168 hectares, combining residential, leisure, tourism and retail uses.
There are also several «financial partners in Vilamoura, led by Santander, are prepared to finance the construction of these projects and to support potential investors».
This and other information was put forward in a session that was attended by the Minister of Economy Pires de Lima and responsible for Vilamoura World, the entity «leading this transformation, which is also undergoing a rebranding Vilamoura, in order to reflect the diversity, ambition and objectives of the new master plan».
«In recent years, Portugal has made enormous efforts to attract foreign direct investment through tax benefits and the Golden Visa program. Vilamoura represents a great investment opportunity in the future of Portugal. The country is on the path of recovery and Vilamoura is proud to play an important role in this process of renewal. Vilamoura is, in fact, at the forefront of this process», considered, at the session, the manager of the project, Paul Taylor.
The same person responsible takes on the challenge of making Vilamoura «the biggest resort in the Algarve». For this, the investment plan foresees investments in different sectors, to guarantee the diversity of the offer, being divided into six distinct themes: Vilamoura Marina, Vilamoura Golf, Vilamoura Active, Vilamoura Villages, Vilamoura Estates and Vilamoura Lakes.
The latter will be «one of the main assets of the master plan», and will replace the previous undertaking called Cidade Lacustre, «aimed at responding to the aspirations and tastes of sophisticated tourists and environmentally responsible owners». This development «will cover beautiful lake landscapes, creating one of the main lake resorts from Europe".
Among its attributes are “250 thousand m2 of natural landscapes, 1900 residential units, 5 tourist developments with 3600 beds and retail and catering offers premium, integrated in an environment that respects the environment».
In addition to the expansion into a new area, Vilamoura announced details of the Marina area improvement plan, which includes a new international Yacht Club, a spa and gym, as well as three restaurants and boutiques.
This is an ambitious project, which the Government wants to see succeed. «Portugal is currently experiencing times of hope and economic recovery. One of the factors that has contributed to the consolidation of the Portuguese economy is the gradual increase in foreign investment, an unmistakable sign that Portugal has regained credibility and confidence among foreign investors. I hope that this Vilamoura project will be another example of success and confidence in our country», said Pires de Lima.
Vilamoura is one of the biggest leisure developments in the Algarve and one of the best known tourist destinations in Portugal. In 2015, it received the Best International Marina Award. In the approximately 1700 hectares of territory it occupies, in the heart of the municipality of Loulé, this development has «five world-renowned golf courses, magnificent beaches and a wide range of four and five star hotels».
Comments