29 December 2020
The French investor Claude Berda and Paula Amorim will invest approximately €20 million in an ongoing development in the region of Comporta. Work on the infrastructure of the second lot of the project, this time in association with Paula Amorim, will begin on January 5th.
The second phase of the Dunes project, with an area of about 551 hectares, surrounded by a ring of pine trees of 460 hectares, is located in Carvalhal, Alcácer do Sal. José Cardoso Botelho, general manager of Vanguard Properties, told Expresso that the project includes a clubhouse for the golf course, and “has a cost close to 20 million euros.” Vanguard will fund 75% of the investment, with the remaining 25% the responsibility of Amorim Luxury.
Vanguard is already working on the Tower, in the municipality of Grândola. The total value of the firm’s planned investments in the area exceeds €2.3 billion, €1.5 billion of which will go to the Dunes project, with another €850 million going to the Tower. Mr Botelho added that “the construction of two tourist lots, one residential, and two hotels should start in the first quarter of 2022 so that everything can be completed by the end of 2024 or the beginning of 2025.”
Original Story: Expresso – Hélder C. Martins
Translation: Richard Turner