Asset manager Arrow Global, which owns Vilamoura World, has announced plans to invest €500 million in relaunching the famous resort town of Vilamoura in Portugal’s Algarve region.
The resort town is also popular for its nearby beaches, with around 2km of coastline, as well as its five golf courses Old Course, Pinhal, Laguna, Millenium, and Victoria – all of which are owned by Vilamoura World following its recent purchase from Dom Pedro – and 14 hotels, five of which are owned by Vilamoura World.
Future plans for Vilamoura include the expands the 825-berth marina by a further 68 berths to provide capacity for larger boats, and developing its extensive land bank of over 500,000 sq m to build new residential areas. Vilamoura is currently home to around 15,000 property owners.
Pedro Reimão, CEO of Vilamoura World, said: “We are pleased to announce the relaunch and a new vision for Vilamoura, uniting the multiple businesses and projects that are shaping an even more extraordinary Vilamoura.
“With a diversity of experiences and leisure opportunities that suit the lifestyle of our visitors and residents, the destination offers both the glamour of the more urban areas around the marina and the refuge of areas near the environmental park and golf courses.
As we begin to enhance everything the destination has to offer, as well as develop new real estate projects, facilities, and experiences, we hope to make Vilamoura even more attractive and attract new visitors and homeowners from around the world.”
João Bugalho, CEO of Arrow Global Portugal, highlighted: “We are also consolidating and enhancing Vilamoura’s key leisure experiences. Not only in the hotels and golf courses we acquired from Dom Pedro, but also through Vilamoura’s famous equestrian centre and the construction of new sports centres, both for professional teams and individual athletes and residents.”
John Calvao, Managing Principal and co-Head of Arrow Global, added: “We are committed to continuing to work with a brand of great tradition and significance for the country. By placing Dom Pedro’s assets under our management, along with the acquisition of Vilamoura World, we express our unwavering commitment to position Vilamoura and Portugal as global reference destinations.”
In addition to its five golf courses, Vilamoura is also home to a 200-hectare environmental park, including 30 hectares of vineyards, as well as 10km of walking and cycling trails, an international school, hospital, casino, banks, restaurants, stores, an equestrian centre and tennis and padel courts.