This new, luxury nature resort in the Algarve will have an investment of 270 million euros.
Construction of the luxurious Verdelago nature resort is about to get underway in the Algarve, Portugal. After 20 years in the pipelines, the project has now been acquired and redesigned by the Oxicapital fund in 2021, which gave priority to its integration in the natural landscape of Castro Marim, in the district of Faro. The investment is around 270 million euros. Let's find out more about the Verdelago Resort Algarve, including luxury real estate.
The Verdelago resort is to be built on a plot of 86 hectares on the Algarve sea front, and according to the Portuguese newspaper Expresso, both a tourist complex and a five-star hotel will also be built. However, the construction area of this resort is only 74,000 square metres. The remaining 70 hectares will give way to a natural park where 110 species will be protected, such as chameleons, frogs, butterflies and rabbits to name but a few.
The project will be built in several phases, the first of which should be completed in the summer of 2022. When it comes to luxury real estate in Verdelago, there will be a wide range of property for sale in Verdelago Resort. 102 apartments will be available, with prices starting at 450,000 euros. There will also be 26 villas, with prices starting at 670,000 euros, and 7 more luxury villas, with values of over 1,500,000 euros. The total construction of the project is expected to be completed in 7 years.
Verdelago: in harmony with nature
It was just this year in 2021 that the Portuguese capital fund Aquarius - managed by Oxicapital - acquired the Verdelago project, which had been frozen since 2001 due to controversies surrounding environmental issues.
With the aim of overcoming these issues and transforming the problem into a driving force, the new owners redesigned the entire project taking into account social, economic and environmental sustainability criteria, thus creating harmony and harmony with nature. Where a golf course was planned to be built, for example, a natural park will be created. The size of the luxury hotel was also reduced and integrated into the landscape.
As a result, the project has already obtained the Green Globe certification, awarded by the United Nations Tourism Organisation. And this environmental tourism certification has already earned the first reservations for Blue & Green, the tourist operator that will be responsible for managing Verdelago.