Arrow Global, in collaboration with a Portuguese construction company, has invested in the Palmares Ocean Living & Golf tourist resort, in Lagos, Algarve. The investment was made through funds managed by Arrow Global, and equates to a combined investment of approximately EUR 00 million.
The assets include 200 hectares of land, located between the mouth of the Alvor River and Lagos, which includes a 5-star boutique hotel, a 27-hole golf course, a clubhouse where the AL SUD (Michelin-starred) restaurant is located, and 40 building plots. Of villas and 12 plots of land for development, specifically to build 310 luxury apartments.
“This investment represents a major advance in our hospitality strategy in Portugal, especially for the Algarve region. We are very pleased with the success of the business and that we believe we continue to contribute to the growth and development of national hotels and tourism,” explains John Calvao, Director of Arrow Global Funds.
Francisco Moser, CEO of Hospitality at Arrow Global Portugal, considers that “the investment in Palmares Ocean Living & Golf is of particular importance, taking into account the importance of the hospitality and tourism sectors to the Portuguese economy,” while João Bogalho, CEO of Arrow Global, believes that Portugal This investment complements Arrow’s recent strategic investments in Portugal. “This includes our investments in important assets in Vilamoura, such as Vilamoura Marina, the Equestrian and Sports Centre, the land, the two prestigious Dom Pedro and Hilton hotels, as well as five premium golf courses.
João Bojalho also adds that the launch of direct flights from the USA to Faro in 2024 will contribute to the increased visibility of hospitality and leisure assets in Portugal, representing a business opportunity.
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