“We will become part of an itinerary that wasn’t even considered by sailors aboard large vessels”
A new marina for larger vessels, ranging between 20 and 40 metres, was inaugurated in Vilamoura on Saturday (November 23) during Vilamoura Marina’s 50-year anniversary.
“This new marina was something Portugal needed. In fact, boats coming from northern Europe used to sail past the Algarve on their way to the Mediterranean. Now, by stopping here, they will inevitably fall a little in love, and we will become part of an itinerary that wasn’t even considered by sailors aboard large vessels,” said João Bugalho, CEO of Arrow Global Portugal, which owns Vilamoura World, at the inauguration ceremony.
With the new marina, Vilamoura is now capable of attracting visitors with an even higher spending power who will help develop the Algarve’s economy even further and create more jobs, Bugalho explained.
Boasting enough room for 68 yachts with sizes ranging from 20 to 40 metres, the new marina started being built on January 23 and represented an estimated investment of €23 million – without support from European funding.
“There is no marina in Portugal capable of accommodating vessels between 20 and 40 metres,” Isolete Correia, director of Vilamoura Marina, told Barlavento newspaper at the ceremony. “The demand exists, and now we have a new marina equipped with everything the current market needs. We are already contacting those on the waiting list and will soon start marketing the spaces available.”
Building a marina in 10 months was a “difficult task”, Correia recognised, but everything went according to plan.
“I am very happy because I saw the Vilamoura Marina being born, and now I am witnessing the birth of the second marina. It’s a very special day for me, and I believe also for the municipality of Loulé, for the Algarve, and even for the country,” Isolete Correia stated.
She added that this is “one of the first big projects developed in Vilamoura by Arrow Global, which aims to offer a very high level of golf, an internationally renowned equestrian centre and a top-class sports centre.
“The new marina is just the start,” she vowed.
The ceremony brought together an impressive roster of guests, including two Secretaries of State – Portugal’s Secretary of State for Tourism, Pedro Machado, and Secretary of State for Fisheries, Cláudia Monteiro de Aguiar – as well as the Chief of Staff to the Prime Minister, Pedro Perestrelo Pinto.
Tourism leaders, including the President of the national tourism board Turismo de Portugal, Carlos Abade, and the President of the Algarve tourism board Turismo do Algarve, André Gomes, were also in attendance, alongside the President of the regional development commission (CCDR Algarve), José Apolinário; the President of the Algarve hotelier association (AHETA), Hélder Martins; Arrow Global Portugal CEO, João Bugalho; Arrow Global Funds Managing Principal, John Calvão, and even Portugal’s football legend Luís Figo, among other local officials and business leaders.
“We’re rebuilding Vilamoura’s original vision”
The celebration of Vilamoura Marina’s 50th anniversary and the inauguration of the new marina for larger boats posed an opportunity for Arrow Global to provide more insight into its plans for the area, which “go far beyond the marina”.
“We like to think of ourselves as the custodians of Vilamoura,” said CEO João Bugalho, referring to the acquisition of Vilamoura by the Arrow Global Fund in 2021.
“Vilamoura is something much greater than any of us. It was born 60 years ago as a dream that, over time, was somewhat altered. I’m very proud to say that Arrow has been, in some way, working to rebuild the original vision of Cupertino de Miranda (original founder of Vilamoura).”
“It’s impossible to fully restore that original vision because some assets have been sold over the years and are no longer under our control, but we truly love Vilamoura,” Bugalho told Barlavento.
Backed by an investor “who views Vilamoura as a destination with significant regeneration potential that wasn’t being realised,” Arrow Global believes developing new projects like the marina for larger vessels can help Vilamoura reach new heights.
The new marina, for example, targets a “market that had a waiting list of over two years, causing boats traveling from northern Europe to bypass Portugal and head to the Balearic Islands, where marinas could meet their needs. Now, we have the capacity to respond to this clientele – a type of tourist who truly spends money in this country, invests, helps with development, creates jobs, and is enthusiastic about the Algarve’s climate and natural conditions,” said Bugalho.
The new marina is also expected to help attract more visitors year-round and “restructure” some of the retail spaces around the marina.
Developing the property market around the marina is another cornerstone of Arrow Global’s vision for Vilamoura.
“We have over 500,000 square metres of construction, and we’re currently working on seven projects in Vilamoura. Some are already on the market; others are under construction or in the planning stage. Part of our plan is to continue developing housing that makes sense for these segments. We believe Vilamoura is a fantastic place to invest, to live, and to enjoy leisure time, whether it’s golfing, boating, or horseback riding,” Bugalho said.
The next step for the current owner of Vilamoura World – the resort’s ‘master developer’ – is “a complete overhaul of the Equestrian Centre to elevate it to a very different international standard from what exists today. It will be a catalyst for differentiated tourism during the off-season,” the CEO said. “Golf and horses are hugely beneficial in bringing activity, investment, business, and people to Vilamoura outside the typical high season, which is something the Algarve desperately needs to combat seasonality.”
According to João Bugalho, equestrian sports “are very popular in the Netherlands, Belgium, and Germany, but when the cold season arrives, horses are kept indoors. In the Algarve, we have unique conditions to host events that are typically held indoors in those countries. Here, we can operate outdoors year-round.”
Additionally, plans are underway for “a high-quality sports centre, designed to serve the local community and attract international teams for training camps and preseason preparation” in Vilamoura.
Arrow Global is also committed to developing affordable housing projects in the area, having created a company, Nexor, to “address the needs of the local population, particularly those who work with us and struggle to find adequate housing in the Algarve.
“This is a significant problem in Portugal, but it’s particularly evident in the Algarve. We already have two large-scale projects – one in Vila Nova de Gaia and another in Setúbal – and we’re exploring several others, including in the Algarve,” he said, without shedding further light on these for now.
“This is our vision. We want future custodians, one day – hopefully far in the future – to inherit a Vilamoura that’s different from what we have today, which is already very good. We recognise that there is still plenty of room for positive progress,” said Bugalho.
Secretary of State for Tourism praises new investments
Representing the government at the inauguration ceremony was Secretary of State for Tourism, Pedro Machado, who praised the investments carried out by Arrow Global in Vilamoura.
According to Machado, the new projects will “not only attract greater and more significant investment to the region but also bolster the competitiveness that Portugal aims to achieve in the coming years”.
He spoke particularly highly of the new Equestrian Centre project, “a facility capable of accommodating around 1,000 horses. This will not only enhance Portugal’s offerings but, more importantly, its positioning, particularly on an international level,” the secretary of state said.
By BRUNO FILIPE PIRES
