A NEW 65 million euro holiday complex is under construction near Albufeira.
The Eden Resort is being developed by Grupo Duarte, a building company based in Braga which is entering the residential market in the Algarve with its four star development.
The complex is expected to be finished by 2010 and is part of an ambitious expansion plan by the group, which hopes to invest a total of 100 million euros in Lisbon, Costa Vicentina (on the west coast) and the Algarve.
The new resort, which occupies a total area of 11 hectares, will have a low building density, with only 20 per cent of the total area built on.
There will be four detached villas with private swimming pools, 19 rows of properties spread out over 108,000sqm of land, with 67 one bedroom apartments, 67 two bedroom apartments, 31 two bedroom townhouses and 29 three bedroom townhouses.
According to João Duarte, CEO of Grupo Duarte, the resort “will make a difference as the Algarve has few developments with low building density and high quality standards at the same time”.
In his opinion, “this is going to be our visiting card in the residential sector”, which, he says, is growing strongly among investors from UK, Ireland, Holland, Germany and Spain.
The company’s concern with quality standards is underlined by its use of eco-friendly technologies in materials, construction methods, air-conditioning and heating systems, utilising solar energy, as well as in the communications systems.
The Eden Resort is located on the edge of Albufeira and is 30 minutes from Faro Airport by the A22, which is only five minutes away. This location was chosen because “Albufeira is the capital of tourism in Portugal and an internationally recognised brand,” said João Duarte.
Its quiet location and proximity to the beaches, golf courses and shopping areas is said to complement the company’s marketing plan, which will see the resort marketed as “Heaven on Earth” at fairs and exhibitions in the north of Portugal and abroad.
The resort will have five outdoor swimming pools, one indoor pool with sauna and Turkish steam bath, security 24 hours a day, a playground for children, kids club, a park and walking areas, snack bar, games area, clubhouse, restaurant, panorama bar, supermarket, coffee bar, reception and lobby.
Prices in the new Eden Resort will range from 199,500 euros for a one bedroom apartment to 975,500 euros for a four bedroom villa. The project is being promoted by HD Real Estate, a real estate company based in Albufeira.