Reports that the Algarve’s luxury resort Quinta do Lago is on the market have been confirmed by a digital brochure that the Resident has had access to, which reads that the resort is “ready for a new owner to establish a living legacy”.
“With a reputation earned over decades, Quinta do Lago is now set for a new chapter. Across the resort there are opportunities to realise the estate’s full potential, and for a new owner to establish a living legacy,” it reads, before going in-depth into the resort’s features.
As the Resident reported first hand, at least two “unsolicited approaches” from potential buyers have been made regarding the luxurious golf and residential estate.
Negotiations are said to be at a “very early stage” and it is unclear whether or not any of the bids will convince Irish billionaire Denis O’Brien to sell.
Quinta do Lago has been owned by Irish businessman Denis O’Brien since 1998, when it was taken over from British food entrepreneur David Thompson for a reported €31 million.
Described as the 199th richest man in the world by Forbes magazine, O’Brien is believed to have invested another €30 million in Quinta do Lago since then.
See this week’s Algarve Resident newspaper (July 9) for the full report.
