Confidence High in Residential Tourism in the Algarve

11 December 2017

In three months, the 87 units of the Pine Cliffs Gardens development, the last phase of the Pine Cliffs Resort, were all sold while still on paper, i.e. before construction even began.

Pine Cliffs, a Luxury Collection Resort, owned by United Investments Portugal (UIP), launched its latest real estate project at the end of July: Pine Cliffs Gardens. This construction, which began in April 2017, marks the last phase of the resort’s development and was sold, while still in the planning phase, in approximately three months, a record. Completion of the project is scheduled for July 2018.

Carlos Leal, the director general of UIP, sees this success in the sale of the 87 units of the Gardens as due, above all, to confidence in the development. “This project, in particular, is being developed in one of the most special areas of the resort, surrounded by gardens and pine trees, which will have another common leisure area that will include a pool and supporting facilities,” Mr Leal explained.

It’s not just because Portugal is currently in fashion. He believes that the project’s highly attractive location, next to the Praia da Falésia, one of the most beautiful places in the south of the country, has contributed to its success. “However, the fact that Portugal is increasingly recognised as a major tourist destination is also important, no doubt.”

Mr Leal added that there are several factors that contributed to the success, including its location in the sought-after Algarve and United Investments Portugal investments in differentiated luxury properties that allow owners to access not only the property but also the lifestyle provided by Pine Cliffs, part of the Luxury Collection Resort brand.

UIP’s director general notes that the Algarve has become a national and international reference for beach, gastronomy and golf and that the increase in the quality of residences on offer in the area in recent years has contributed significantly to this. “We are strongly committed to this area, and from year to year Pine Cliffs Resort has seen a growth in the number of golfing facilities,” Mr Leal stated.

United Investments Portugal also made a significant investment in the wellness segment, with an investment of around four million euros, giving them the most extensive and best spa in Portugal: Serenity, The Art of Well Being. The health and wellness tourism segment is expected to be a significant trend in the coming decades.

The British community is the primary market for the Pine Cliffs Resort, followed by the Portuguese market, but other nationalities, such as French, have been showing up in increasing numbers in recent years. “We see this dynamism in a very positive way, and we are betting on real estate growth through differentiated products in the luxury segment”, the executive explained.

This year, the Pine Cliffs Resort celebrated its 25th anniversary and after a multi-million-dollar investment in the renovation of the Pine Cliffs Hotel and the construction of Pine Cliffs Ocean Suites & Spa – whose sales hit record figures for the Algarve (80% of which were sold before construction began) -, “Pine Cliffs Gardens reinforces our distinctive positioning and as one of Europe’s market leaders in the real estate and leisure tourism industry. We will maintain this bet and hopefully soon have other projects in which to invest,” Mr Leal concluded.

United Investments Portugal is a member of the IFA Hotels & Resorts consortium and the backer of the Pine Cliffs Resort, Sheraton Cascais Resort and the latest brand Serenity Wellness and Spa – The Art of Well Being. UIP has a stake in the YOTEL hotel chain, majority shareholding in YOTEL New York, and has a joint venture with Bespoke Hotels in Portugal and Spain. The Pine Cliffs Resort, as a benchmark development, has served as a reference for all IFA Hotels & Resorts projects.

Original Story: Jornal Econômico – Fernanda Pedro

Translation: Richard Turner