Asset manager Arrow Global, which owns Vilamoura World, has announced plans to invest €500 million in a “historic relaunch” of the Algarve’s famous resort town Vilamoura.
In a statement to the press, Arrow Global revealed “plans to consolidate ownership of many of Vilamoura’s key assets with the aim of accelerating and coordinating their development, thus reaching a new level of extraordinary.”
Future plans for Vilamoura include expanding the marina – already the largest in Portugal and recently voted the world’s best marina for the seventh time – and developing its extensive land bank of over 500,000 sqm to build residential areas” in various typologies, sizes, and prices, offering visitors and guests the opportunity to acquire their own piece of Vilamoura.”
“With over €400 million already invested and over €500 million planned, Vilamoura is set to evolve into one of Europe’s top destinations to live, visit, and invest,” the asset manager said.
“We are pleased to announce today 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,” said Pedro Reimão, CEO of Vilamoura 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.”
Vilamoura welcomes around four million visitors per year and is home to around 15,000 property owners. The marina, currently boasting 825 berths, is due to undergo an expansion to add another 68 for larger-sized boats.
The resort town is also popular for its nearby beaches, with around 2km of coastline, as well as five golf courses, all owned by Vilamoura World, and 14 hotels, five of which are owned by Vilamoura World.
Vilamoura is also home to a 200-hectare environmental park, including 30 hectares of vineyards, as well as 10 kilometres of walking and cycling trails, an international school, hospital, casino, banks, restaurants, stores, an equestrian centre and tennis and padel courts.