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Vilamoura to grow: journey to the past, present and future

Vilamoura is an attractive holiday destination, being known for its marina and beaches. What real estate projects can be born?

Friday, 25 February 2022 - Algarve

(Article Google translated - original in the link below)

Vilamoura is a territory well known to many Portuguese, and also out there, being one of the most popular holiday destinations in Portugal. It is just over two hours' drive from Lisbon and belongs to the parish of Quarteira (Loulé), being known, for example, by the huge marina and beaches. And in addition to tourists, and occasional visitors, the truth is that they live in Vilamoura – there are 1,700 hectares, equivalent to eight times the size of Monaco – about 11,000 people. It is a territory with a lot of history, having had several "owners" over the years, being currently in the hands of Vilamoura World (VW), which is "owner" of two businesses: the management of the marina and beaches and the real estate part. What can be expected of Vilamoura in the coming years? What projects are in mind? The idealist / news was discover and tells everything now in this report.

It was in the hands of the American Lone Star and, before, André Jordan. A story that began in 1965, when Cupertino de Miranda - then president of BPA, which was later bought by BCP - acquired an agricultural land with 1,700 hectares. A lot has changed since then. João Brion Sanches is now the most visible face of Vilamoura, being CEO of VW, which at the end of May 2021 was acquired by a group of Portuguese investors – a co-investment between this group of investors and arrow global's investment fund, which owns Norfin and Whitestar Asset Solutions in Portugal.

"We believe a lot in Vilamoura as a destination, as a very noble location for quality real estate and tourist and residential real estate, and therefore we want to return to what vilamoura once was, which is a great promoter. We have again the ambition to be a great real estate developer", reveals to the idealist / news João Brion Sanches in an interview on site.

What real estate projects can come out of the paper in the next seven years? The CEO of VW said that the company's business plan provides about "400 million euros in investment, in real estate promotion", and points to the construction of 1,000 homes. In the pipeline is also the construction of projects related to health and well-being, such as senior residences.

About the much talked about (and controversial) Lacustre City, which later became Vilamoura Lakes, the manager recalls that it is a project that stood by the way, pointing to the construction on this same land of some urbanization, but always framed with the environment and with a lot of quality.

A residential project already upand and off

The first development to be born already under "the command" of vw's new management is Vilamoura Parque. It is a project with 40 units - 30 V2 and 10 V3 - that will be built next to the Central, and each house will have, for example, a private pool.

According to Miguel Palmeiro, VW's commercial director, "construction is planned to begin from the beginning of the second quarter of 2022" and should last "24 months", and the project should be completed "in the first half of 2024".

Marina will be bigger

Also the marina of Vilamoura, considered the best in the world in 2021 and for many the ex-libris of the region, is expected to undergo works soon, with an expansion that aims to create 68 mooring stations, with the aim of receiving more large vessels.

Isolete Correia, VW's administrator and responsible for managing the marina and beaches of Vilamoura, also recalls in an interview that the marina receives, from October to March, "Olympic teams from many countries, about 50, to train", taking advantage of the climatic conditions of the country and Portuguese waters. "It is an interesting activity not only for the marina of Vilamoura, because it gives movement, but also for the local economy, because they come coaches, athletes, families. It gives a lot of life at this time of year when things are more still," he says.

 

Source: https://www.idealista.pt/news/financas/investimentos/2022/02/21/51083-vilamoura-a-crescer-viagem-ao-passado-presente-e-futuro