The second stage of Vilamoura’s L’Orangerie project was launched last Friday (June 3).
Representing a €10 million investment, the plan includes the construction of 32 luxury villas and houses in the luxurious L’Orangerie “closed condominium”, which once completed will boast 93 properties around the Victoria and Millennium golf courses, offering residents “privileged access to the golf courses, communal pools and gardens”.
Some of the houses were already built and have been sold, according to Paul Taylor, the head of the resort’s master developer Vilamoura World.
The plan now is to start selling the houses that are currently being built and which should be ready by 2017.
L’Orangerie is part of the Vilamoura World’s €1 billion masterplan to become “Europe’s best resort”.
The plan will see 18 projects – including “housing, leisure, tourism and retail” initiatives – created over a 400-hectare area. Among them are five new luxury hotels and a completely revamped take on the Lake City project.
The hugely ambitious masterplan was announced last year, after Vilamoura was taken over by American equity firm Lone Stars Fund which bought the resort for a reported €200 million.
New congress centre in the pipeline
Paul Taylor has also revealed that Vilamoura World is considering building “the Algarve’s largest congress centre”, with a capacity for 2,500 people, at the resort’s marina.
Though the region already has its fair share of congress centres – some even striving to survive, such as Parchal’s Centro de Congressos do Arade – the project is seen as an important part of the resort’s masterplan.
Also on the table is a new night club, named V Lounge, as well as the renovation of all of Vilamoura’s beach restaurants.
Taylor also says that the resort “desperately needs a shopping centre”.