German investor invests €8M in tourist project in Alentejo

German investor invests €8M in tourist project in Alentejo

This investment will include the construction of a new charm hotel, with 20 luxury rooms and a restaurant, for an estimated investment of 6.5 million euro.

It will also include the expansion of the wine cellar and investment in wine production, for a total of around 1.3 million euro. Quinta do Paral wants to stand out for its focus on sustainability and Alentejo tradition.

Dieter commented in a press release that the wine world was always a passion«I always dreamed of building a family business where we could create exceptional wines which reflected the character of their “terroir”. In Alentejo, more specifically in Vidigueira, I found all the conditions to make this dream come true. Quinta do Paral’s goal is to create unique high-quality wines, as well as offering unparalleled experiences through our services such as the creation of the boutique hotel and enotourism, which will start its construction in the near future».

Quinta do Paral has a total 40 hectares of vineyards and 12 hectares of old vineyards, subject to integrated protection practices, which reduce the need for the use of pesticides, «allowing for the creation of premium wines». Historical references dating back to the XVIIIth century can be found here. Quinta do Paral has had vineyards since the 1920s and the last time it had been acquired had been by the Conde de Palma, José Luís d’Andrade de Vasconcelos e Sousa, during the 1960s.

Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!