The Vale do Lobo Resort, located in the Algarve, will soon commence the first phase of its Vale Real residential project, which includes 44 residential units. In total, the development plans to build 227 units over four phases, with a total investment exceeding €200 million. Estimates suggest the project will take six years to complete.
Speaking to the Portuguese newspaper Expresso, Alda Filipe, regional director of the Iberian group Kronos Homes – which recently became a partner in the group – stated that the development marks an important milestone in real estate growth at Vale do Lobo, which has not seen new residential projects emerge in the last 20 years.
According to the publication, a future phase of the project will include the construction of 110 additional residential units in the Vale de Santo António area, near the Vale do Lobo tennis academy.
The director also noted that, since 2023, several plots of land have been sold to individual owners for the construction of villas, generating €100 million in revenue. "The British and Portuguese are the primary clients," with 30% of sales being made to clients who already had investments in the Vale do Lobo resort, she explained.
Founded in 1963 by Dutchman Sander van Gelder, Vale do Lobo is considered Portugal's first luxury resort. It currently has 1,500 residential units, with plans for an additional 300 in the coming years.
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