Faro Câmara has approved a plan to develop the largest green park and commercial and residential complex in the Vale da Amoreira area.
Amoreira Faro will cover a total area of 56 hectares and represents an investment of around €350 million.
Promoted by real estate company Imogharb, the project will include commercial, cultural and social infrastructures.
A spokesman from Faro Câmara told the Algarve Resident: “The project includes the construction of hotel units, an exhibitions park, a shopping centre, health centre, housing units, cycle paths and the largest green park in the municipality covering an area of 11 hectares.”
The Amoreira Faro housing plan should be completed by the end of the year, with other works due to start in the first quarter of 2012.
The whole project is expected to be finished in 2014 and will allow easier access to the A22 and Faro Airport. The Câmara hopes the ambitious investment will create around 5,500 jobs.