THE VALE do Lobo resort has recently announced that its 500 million euro investment plan to develop the Vale do Lobo III area can now begin, following the approval of the technical infrastructures plan.
The project has been in the pipeline for some years, but there was a long delay in the government approving the Plano de Pormenor (detailed plans), for which the green light was finally given in 2004.
The detailed plans for the Vale do Lobo III area, which intertwines with the resort’s Royal Golf Course, include a five star hotel, comprising 180 luxury suites, and 126 plots for 283 luxury villas and apartments.
Commenting on the news that the Vale do Lobo III area can finally be developed, Sander van Gelder, chairman of the Vale do Lobo Group of Companies, comments: “I am extremely pleased that, after the long wait for planning permission, work can now commence on Vale do Lobo III. This ambitious, high quality project will make a significant contribution to Portuguese tourism and to the economy as a whole.”
In an agreement signed between various regional and local entities, including Loulé Câmara and the Co-ordination and Development Committee for the Algarve Region, Vale do Lobo is required to finance or build several community facilities for the benefit of the local area. These have been defined as the building of a church, the improvement of the public park and other infrastructures in Almancil, the acquisition of land to extend the Almancil cemetery, the improvement of Loulé sports pavilion and several other projects. The total investments by the Vale do Lobo Group of Companies in these projects and other infrastructures are estimated at 23 million euros.