New luxury development opening in the Algarve
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Loading... - Augusta Barbosa
- 12 May 2023
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The Verdelago Resort is a village made up of 340 tourist residences and a five-star hotel with 197 rooms, located between Altura and Praia Verde, in the Algarve.
The upcoming Verdelago Resort, a sustainable luxury development in the Algarve region, boasts an investment of 270 million euros and is set to open this summer after purchasing over a hundred houses in 2021. The property spans approximately 86 hectares, with only 8.7% occupied by construction while the remaining land is dedicated to green spaces. This includes a 42-hectare Green Park for Recreation and Leisure, a 24-hectare natural reserve overlooking the sea, and a 2-hectare lake, among other environmental areas.
Verdelago Resort has initiated a new phase of commercialization by offering 109 residential-tourist units, including 83 apartments with T1, T2, and T3 floor plans and private spaces ranging from 80 to 150 m2, as well as 26 townhouses with V2 and V3 typologies. During the launch period in 2021, Portuguese investors made up the majority of buyers, purchasing over a hundred properties and representing 80% of all sales. The remaining 20% of buyers were North Americans, British, and Spaniards.
