Portuguese government approves 700 million-euro investment in tourism

17 January 2006

Lisbon, Portugal, 17 Jan – The Portuguese government approved and recognized the “public interest” status of two tourism projects to be located on the coast of the Alentejo region south of Lisbon, representing a total investment of 700 million euros.

The larger of the two developments presented Monday, is estimated to cost 500 million euros and is being developed by Swiss group Volkert.

The Costa Terra project includes a golf course and will have an accommodation capacity of 2,200 beds.

The second development, known as Herdade do Pinheirinho, is being developed by Portuguese real estate group Pelicano and by Espírito Santo. It is expected to cost 200 million euros and will have some 3,000 beds.

The coast of Alentejo is also the location for an approved Sonae Turismo project in Tróia, Setúbal, expected to cost 350 million euros. (macauhub)