Vilamoura Uptown Project
| 21 December 2016
Vilamoura World has two new projects for next year with an investment totalling approx 90 million euros, These include the Fairways and Uptown developments.
The Fairways is a residential project in the heart of Vilamoura, next to the Millenium and Laguna golf courses comprising of 85 residential units. On the other side and in the northwest area of Vilamoura, there will be the Uptown project, comprisiong 240 residential units, 47 of which are tourist, boutique hotel and a 7,000m² commercial area, which intend to offer an alternative to the marina area, notes the company in Press Release .
This project will develope in 3 phases. The first phase of the commercialization of its projects is scheduled for the summer of 2017.
On the other hand, as well as being part of the implementation and development of the 400-hectare plan of Vilamoura, it is 50% completed the construction of the project, Orangerie II, representing an investment of about 10 million euros. It is a luxury residential condominium surrounded by Victoria and Millenium golf courses, 5 minutes from the beach and the marina of Vilamoura. It includes 32 accommodation units, including 8 apartments T1 to T3, 18 T2 villas with private garden and interior patios and 6 3 bedroom villas with private pool. With the commercialization of Garvetur, this venture should be completed in the first half of next year.
At the same time, Vilamoura World has a specific investment program for the marina of around 500,000 euros, renewing this infrastructure and the 'commitment to tourism'. "We intend to continue to modernize the marina, preparing it for the summer of 2017, so that it can still be recognized as the Best 5-Anchored International Marina," read the company's press release.
"It is with great enthusiasm that every day we work to reposition Vilamoura in the national and international real estate and tourism landscape, affirming it as one of the best destinations in Southern Europe", comments Juan Gómez Vega, CEO of Vilamoura World.
The masterplan of Vilamoura, presented in September last year, provides for the construction of more than 4,000 residential units in the 18 development areas of the project, designed for the next 10 years.