BES sells Herdade dos Salgados Golf .jpg

BES sells Herdade dos Salgados Golf

HERDADE DOS Salgados golf course in Albufeira, previously owned by the BES group, has recently been sold to Grupo CS for around 12 million euros.

Grupo CS’s reason for buying the course is to add value to its recently opened CS São Rafael Suite Hotel, by offering guests the option of playing golf during their stay. With this acquisition, Grupo CS hopes to profit from the low season, when more golfers from abroad visit the area to play on “a good golf course in fine weather”.

Grupo CS, through partner Hersal, also owns the real estate arm of Herdade dos Salgados, which is planning to create accomodation housing 4,500 beds in an investment worth 276 million euros, one of the biggest ever to be made in the Algarve.

The idea is to offer a diverse product combining health, sport, leisure, business and culture. The resort will have five, five star hotels, as well as other holiday accommodation, including villas and apartments, totalling 500 homes. In terms of leisure facilities, the resort will boast the 18 hole golf course, a congress and exhibition centre with a capacity for 3,000 people, six tennis courts, a football pitch, training centre, country club, indoor pool, spa, a medical clinic specialising in dermatology and plastic surgery, and several shopping areas.

Herdade dos Salgados is considered one of the best golf courses in Portugal. “Its proximity to the sea and its diverse range of lakes make this course a very interesting one, providing a good test for golfers, different from other Algarve courses,” said a source from Grupo CS.