The Alentejo coast a focus of interest for Fosun

The Alentejo coast a focus of interest for Fosun

According to information taken from the specialised press, the Chinese group has more than 100 million euros to invest in the region, with at least four existing projects in the area under consideration.

“There are several proposals which are being analysed, but no deal has yet been closed,” stated the Fosun spokesperson in Portugal. Among various options on the table for purchase will be, firstly, the Costa Terra plans, from the Portuguese entrepreneur Pedro Queiróz Pereira, and also Herdade do Pinheirinho, launched by the insolvent Pelicano, secondly the Herdade de Comporta, in the process of being sold by Rioforte, from the extinct Grupo Espírito Santo sphere, and finally even Tróia.

These projects are some of the sizeable retail assets which continue in the market, and which have most attracted the attention of investors who seek to invest in this sector in Portugal.

Extending over an area of 200 hectares, the Costa Terra project had four planned phases of development and a predicted global investment of 535 million euros. Right beside this property, Herdade de Pinheirinho, near Melides, has already attained PIN (NIP) status, and had been expecting an investment of 167 million euros, but the bankruptcy of their promoter, Pelicano, put the project on stand-by.

Better known is the Herdade da Comporta, valued at 400 million euros, and which has been attracting interest from several international investors, already having approved projects covering an area of more than 550 hectares. Finally, still ‘on the radar’ is the designated area of Unidade Operativa de Planeamento 2, situated on the Tróia peninsular.

It can be recalled that, at the time of the purchase of Club Med by the Chinese giant Fosun, the objective was announced of opening an average of five new resorts per annum in the world, including Portugal. The resort chain is currently considering one such on the national market, located in Balaia, beside Praia Maria Luísa in the Algarve district of Albufeira.

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