Developer and investor United Investments Portugal UIP, which owns Pine Cliffs Resort in the Algarve, says it is committed to continuing to invest in Portugal.
The group is currently developing Quinta Marques Gomes on the riverfront of Vila Nova de Gaia, with the Chairman of UIP, Carlos Leal, saying that the project is for an exclusive resort stretching along the river Douro.
The project, he admits, is not dissimilar to Pine Cliffs and will have branded apartments that are being sold at record prices. This project, he states, also has a hotel, the Palácio.
The construction of the block of apartments is proceeding at a good pace, as are the sales.
The hotel will comprise 120 rooms which he thinks is enough to maintain the “mystery and an atmosphere of exclusivity”.
Carlos Leal is also the chairman of United Hospitality Management (UHM), which is the UIP brand geared towards hotel management.
UIP is also working on the Vale do Freixo Resort in the Algarve with a €200 million investment after standing still for decades.
“At the moment, our main focus is Lisbon, apart from other more specific regions we’ve identified where we want to have a presence. Most of our growth in Portugal will be at the services provision level through UHM.”
With over 12 hotels under UHM management since last year, “we believe that we are an asset for any owner because our origins come from managing our own properties and our management method focuses on what the owner wants and not the brand, and I believe we bring this philosophy to management,” said Carlos Leal.
Source: Essential Business
