Property developer Vanguard Properties has just completed the sale of 40% of the 256 apartments in its Bayline project in Armação de Pêra.
The project, which was put on the market in March, represents an investment of €85 million. Work on the development began in December 2019 and will be completed next year.
It brings to Portugal’s main holiday region a new closed condominium just 30 metres from Praia dos Pescadores, in what is one of the latest residential beachfront apartment projects in the Algarve.
The project has one- to three-bedroom apartments designed by the architects Saraiva + Associados. It will have a reception area with concierge services, spa, gym, indoor and outdoor swimming pools and two hectares of green areas with sports fields.
The development follows a policy of sustainability and has the BREEAM (Building Research Establishment Environmental Assessment Method) certification, a system that calculates the sustainability of construction projects and whose classification is based on nine factors: management, health and wellness, energy, transport, materials, waste, water, soil use, ecology and pollution.
José Cardoso Botelho, Managing Director of Vanguard Properties, said in a press communique that “Bayline has proved a success in terms of sales despite the context of the pandemic we are going through”.
Botelho attributed this success to the “exceptional arguments in its favour regarding location, architecture and the quality of its amenities, key factors when defining a real estate product”.
He added “the project will be unique in the Algarve because of its quality, location, and incredible views overlooking the sea and towards Lagoa dos Salgados, a bird-watching area where various species nest”.
The residents will literally have 6km of beach right on their doorstep since the development is just 30 metres from the beach.
“This really is a project that stands out from the others and the marvellous views can be seem from all floors, including from the ground floor,” says José Cardoso Botelho.
As a mark of its strategic importance for the Algarve region, the Secretary of State for Internationalisation, Eurico Brilhante Dias, visited the Bayline project in July.
The visit followed an invitation sent by Vanguard Properties when the Secretary of State was accompanied by his advisor, Marta Costa, and also involved the Mayor of Silves, Rosa Palma, and the Executive Vice President of the Portuguese Association of Real Estate Developers and Investors, Hugo Santos Ferreira.
Shown around the development by the managing partners of Vanguard Properties, Claude and Alexandre Berda and José Cardoso Botelho, the visiting committee had the opportunity to undertake a site visit and see the full scale of the works underway on this project, which is slated to be completed in 2022.
Also present were Miguel Saraiva, founder and president of the architects studio Saraiva + Associados, Pedro Ferreirinha, partner at Vieira de Almeida & Associados, Margarida Almeida, leader and founder of Amazing Evolution, and the chief engineers responsible for the construction of the development, António Rodrigues and Paulo Carapuça, leaders of Grupo CASAIS, as well as the Vanguard team, Tatyana Bezukladnikova, Filipa Abreu Teixeira, Pedro Aguardela, Nuno Banha and Sandra Viegas.
The visit was also a pretext for a short presentation about the company – which is currently the real estate developer with the highest investment turnover in Portugal – its projects and its policy of patronage and sponsorships, namely the youth tennis championship tournament project Vanguard Stars.
The morning’s guided site visit and presentation was rounded off with a lunch in Portimão at the invitation of the local mayor Isilda Gomes, who once again extended an invitation to invest in the borough, an opportunity that is already being studied by the developer.
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By CHRIS GRAEME/Essential Business