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A “Premium” Comporta Is Coming

16 July 2017

Pedro de Almeida’s strategy is to develop a premium resort, maintaining and reinforcing the characteristics of Herdade da Comporta, according to a report.

Pedro de Almeida wants to build a “premium resort” in Comporta. The businessman has signed a contract for the purchase of the fund that controls the estate, and has already signaled interest in buying the company that manages the estate’s agricultural operations.

“Pedro de Almeida’s strategy is to develop a premium resort, maintaining and reinforcing the unique characteristics of Herdade da Comporta which make it such a unique destination and an international landmark, with exclusive characteristics formed of a virtuous triangle: real estate, tourism and agriculture,” the press release said on Friday.

All this takes money. “A large-scale investment is important, one that will require a substantial allocation of funds and a consistent and long-term strategic vision for the project,” says the businessman, who says he has returned to Portugal for this acquisition.

Last Monday that the newspaper O Jornal de Negócios reported that Pedro de Almeida would buy the 59% stake in Rioforte, from the former Espírito Santo Group, held in a Special Closed-end Real Estate Investment Fund. On that day, no confirmation was given, but the deal was confirmed last Friday.

Now, according to the businessman’s own forecasts, the sales process will be finalized by October. “In the next three months, a set of factors linked to the operation will be finalized, including some conditions needed to reach a conclusion.  We have a multi-purpose team working on the details,” said Pedro de Almeida, quoted in the statement.

Original Story: O Jornal de Negócios – Diogo Cavaleiro

Photo Credit: João Paulo Dias

Translation: Richard Turner