Quinta do Morgadinho in the Algarve town of Vilamoura has been chosen by a Portuguese fund management company to develop a property project worth €700 million, the developer announced today. Bondstone owns 68 hectares where it plans to build the Arcaya Homes project, which will initially include 48 ‘premium villas’, built using a model focussed on environmental sustainability and which will be launched on the market for prices starting at €1.9 million, the developer said in a statement. The 48 villas will be constructed on an area of 240 sq metres, with individual plot sizes of between 1,000 – 2,000 sq metres. The estimated completion time has been given as 12 months.
New Algarve homes with starting prices of €1.9 million
Image from Bondstone website
