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Why now is the the time to buy in Vale do Lobo

Posted by Chritl Lee on 17/11/2023
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Vale do Lobo Golf and Beach Resort in the Algarve is getting a magnificent make- over and this is surely going to see a surge in property prices.

In a public statement released by Managing Director of the Kronos Real Estate Group- Rui Meneses Ferreira,  he revealed that their real estate developement brand : Kronos Homes, are planning to build 460 luxury houses in the Vale do Lobo resort in Algarve, commencing in 2024. This investment will also see improvements carried out to the resort’s golf courses, tennis and paddle sports centre and “everything close to the beach”. He also elaborated that “The total investment in the development of Vale do Lobo, including the acquisition cost, is expected to be around €500 million over the next 10 years. It represents phase 2.0 of the company in the Algarve now that we have sold Palmares,”

Out of the 460 residential units planned for Vale do Lobo – including apartments, single-family houses and plots of land – 103 housing units will be developed within the existing Vale do Lobo development, 237 will be part of the new expansion phase called Vale Real which includes includes a five-star hotel with 126 rooms and 30 branded residences and 120 units will be constructed in the “Vale de Santo António” area

Vale de Santo António represents the “last area” to be developed in Vale do Lobo, which Kronos intends to make “emblematic” said Meneses Ferreira. “This is the last opportunity to make a mark on Vale do Lobo, and due to its location and surroundings, both developments will be aimed towards the premium segment,” The head of Kronos Homes adds that the concept design project is already under development for the 80,000 square metres of land which will be developed. The investment in this area will represent €60 million in construction alone.

According to the head of Kronos, “Vale do Lobo is not just a real estate project. With over 60 years, it combines beach, golf, leisure, and an entire lifestyle that we intend to preserve,”

 

 

 

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