Real estate company Grupo Invictus has invested eight million euros in the Albufeira property market after purchasing the Vale Pedras complex in the popular tourist destination.
The complex consists of 50 two and three bedroom apartments complete with communal pool, private gardens and garage facilities.
The developers believe that the location of Vale Pedras close to schools, parks, shopping areas and the beaches of Albufeira make this an appealing prospect for “both those looking to live permanently in the area or those looking for an apartment with rental potential”.
The company has already invested 24 million euros in the region since the beginning of 2010 and has also opened two agencies in Vilamoura and Portimão which focus on the Algarve region.
Pedro Paredes, president of the board of directors for Grupo Invictus said: “The Algarve is a promising area and because of this we have high expectations with regard to business development in the region.”
