Portuguese luxury real estate developer invests €100 million in the Algarve

The Portuguese luxury real estate developer Fercopor is to put two residential real estate projects onto the market, both of them in Vilamoura in the Algarve.

In a €100 million investment for both projects, the Serenity development is already under construction close to the Marina de Vilamoura. The project comprises two buildings with 53 apartments raging from studios to four-bedroom penthouses, with interior areas up to 246 m2 and outside areas up to 306 m2 designed by the architect Saraiva + Associados.

The marketing launch of the second project is slated for July, whose name and characteristics have yet to be announced.

Mário Almeida, CEO of Fercopor said in a communiqué that “given that we have a consolidated track-record in luxury housing in the north, it was natural that Fercopor would also want to invest in the Algarve.”

“We are ambitious to reach new markets and other places, particularly international ones. Both in terms of national and international buyers we are really interested in the Algarve, and in particular in Vilamoura”.