Portimao set for huge development

The city of Portimao on the Algarve is set to enjoy a €100 million (£68 million) residential and commercial development after the city authorities launched a public tender last week. A 27-acre site owned by the city in Barranco do Rodrigo will be the location for a new sports complex, mall, football stadium, and large-scale residential development, according to reports in the local press.

The tender proposes that the winning consortium be given the land in question for free, on a condition that the afore-mentioned facilities should be built. The developers will then be able to recoup their costs and gain profits from the sale of residential property. Local English-language newspaper The Resident announced that three companies are currently competing for the contract, including Portuguese and Brazilian firms. Construction is expected to begin next spring.

Meanwhile, a commission has been appointed to work with the Portuguese government to resolve the issue of holiday-home rental licenses. At a meeting in Vilamoura, representatives of the government, industry bodies, and local residents met to discuss how to tackle the problem, which relates to the need for private homeowners to comply with current rental legislation notwithstanding the inability of many local councils to correctly issue licenses. Fines have been levied despite the protests of owners and management agencies that these have done all they can to secure licenses. The commission will submit proposals to resolve the problem to the government.

Posted on: Portugal

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Portimao set for huge development

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