Vanguard Properties sells 40% of Algarve Bayline development
Vanguard Properties, currently the largest and most active luxury property developer in Portugal, has just completed the sale of 40% of the 256 apartments in its Bayline project in Armação de Pera, Algarve.
The project which was put on the market in March, represents an investment of €85 million and work on the development was begun in December 2019 and will be completed next year.
It brings to Portugal’s main holiday region a new closed condominium just 30 metres from the fishermen’s beach Praia dos Pecadores, in what is one of the latest residential beachfront apartment projects in the Algarve.
The project has one to three bedroom apartments designed by the architects Saraiva + Associados. It will have a reception area with concierge services, spa, gym indoor and outdoor swimming pools and two hectares of green areas with sports fields.
The development follows the policy of sustainability followed by Vanguard Properties and has the BREEAM (Building Research Establishment Environmental Assessment Method) certification, a system that calculates the sustainability of construction projects and whose classification is based nine factors: management, health and wellness, energy, transport, materials, waste, water, soil use, ecology and pollution.
José Cardoso Botelho, Managing Director of Vanguard Properties said in a press communique that, “Bayline has proved a success in terms of sales despite the context of the pandemic we are going through.”
Botelho attributed this success to the “exceptional arguments in its favour regarding location, architecture and the quality of its amenities, key factors when defining a real estate product.”
He added “the project will be unique in the Algarve because of its quality, location, and incredible views overlooking the sea and towards Lagoa which is a bird-watching area where various species nest.
The residents will literally have 6km of beach right on their doorstep since the development is just 30 metres from the beach which is “simply fantastic”.
“This really is a project that stands out from the others and the marvellous views can be seem from all floors, including from the ground floor,” says José Cardoso Botelho.
As a mark of its strategic importance for the Algarve region, the Secretary of State for Internationalisation, Eurico Brilhante Dias visited Vanguard Property’s Bayline Project in Armação de Pêra in July.
The visit followed an invitation sent by Vanguard Properties when the Secretary of State was accompanied by his advisor, Marta Costa and also involved the Mayor of Silves Municipal Council, Rosa Cristina da Palma, and the Executive Vice President of the Portuguese Association of Real Estate Developers and Investors, Hugo Santos Ferreira.
Shown around the development by the managing partners of Vanguard Properties, Claude and Alexandre Berda and José Cardoso Botelho, the visiting committee had the opportunity to undertake a site visit and see the full scale of the works underway on this project which is slated to be completed in 2022 with an investment which has topped €90 million.
Also present were Miguel Saraiva, Founder and President of the architects studio Saraiva + Associados, which designed the project, Pedro Ferreirinha, Partner at Vieira de Almeida & Associados, Margarida Almeida, leader and founder of Amazing Evolution, and the chief engineers responsible for the construction of this magnificent development, António Rodrigues and Paulo Carapuça, leaders of Grupo CASAIS, as well as the Vanguard Team, Tatyana Bezukladnikova, Filipa Abreu Teixeira, Pedro Aguardela, Nuno Banha and Sandra Viegas.
The visit was also a pretext for a short presentation about the company – which is currently the real estate developer with the highest investment turnover in Portugal – its projects and its policy of patronage and sponsorships, namely the youth tennis championship tournament project Vanguard Stars.
The morning’s guided site visit and presentation was rounded off with a delicious lunch in Portimão at the invitation of the Mayor of Portimão City Council, Isilda Gomes during which the Mayor once again extended an invitation to invest in the borough, an opportunity that was warmly appreciated by Vanguard Properties and which is already being studied by the developer.