LOULÉ, Portugal--(BUSINESS WIRE)--Today Vilamoura, the Algarve’s leading travel destination, announces its Master Plan for the 400 hectare, second phase in its development. The €1 Billion project represents one of the largest real estate developments in Portugal and provides strong backing for the Portuguese economy and the Algarve region.
With an area of 1,700 hectares, eight times the size of Monaco, Vilamoura is also one of the Algarve’s largest leisure developments and one of Portugal’s most important travel destinations. This transformational project presents a unique opportunity for investors to participate in the country's strong economic and real estate recovery. 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.
The Master Plan comprises a fully approved low density gross construction area of 680,000 sqm in a total development area of 4,000,000 sqm. 18 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. All projects are ready for sale and development. Our banking partners are led by Santander, who are ready to provide construction finance to support our investors.
The Master Plan is based around six lifestyle themes; Vilamoura Marina, Vilamoura Golf, Vilamoura Active, Vilamoura Villages, Vilamoura Estates and Vilamoura Lakes reflecting the diversity and aspiration of our customer base. The Master Plan promotes the highest quality of contemporary design and specifications, and a firm commitment to environmental sensitivity. The Master Plan will also create thousands of direct and indirect jobs.
A key facet of the masterplan will be Vilamoura Lakes which will embrace beautiful lakeside landscapes to create one of the leading lake resorts in Europe. It will comprise 250,000 sqm of natural lakescape, including 1,900 residential units, 5 tourist focused developments comprising 3,600 beds and first class retail and gourmet restaurant offerings that are all located within an environmentally considerate setting.
Vilamoura has also today provided details of the planned enhancement of the Marina area, which will encompass a prestigious new… [to read more visit http://www.vilamouraworld.com/uploads/canais_tipo2_ficheiros/Vilamoura-sets-out-new-master-plan-Sept-2015-International.pdf].