Finnish Family Office Invests Euro 30 Million in Eastern Algarve, Portugal

Eastern Algarve in Portugal has emerged as a very good luxury real estate investment in Portugal. The famous Ombria Resort is a super class luxury real estate development in Algarve being in a premium location too. There has been an announcement from them recently that Pontos Group, a family office from Finland, has confirmed an investment of approximately 30 million Euros for the construction and development of Alcedo Villas which are a group of 12 world class luxury independent villas.

A sustainable luxury development in the prestigious locales of Eastern Algarve, Portugal Ombria Resort has been created with an objective to be one with nature and its surroundings.

The location of Alcedo Villas in Portugal is in close vicinity to the Viceroy Hotel at Ombria Resort (which has been under development from December 2019 and progressing well). The amazing Alcedo Villas planned with all the possible luxuries that you can imagine will be developed on separate plot sizes of 1,700 m2 to 3,300 m2.

The villas are set to have between 3-7 rooms, heated pools, lift, roof terrace, garage for three cars and large gardens overlooking the sprawling golf course of Ombria Resort.

They will be built individually to the taste of each client and delivered turnkey. These houses are purely residential and are sold in plan with an approved project, which allows each buyer flexibility to build a house where the interior design and finishes can be customised and adapted to their preferences.

Construction of the first villa is set to start this summer, in line with coronavirus guidelines, and sits at the very top end of the market, with prices starting at €2,550,000 (furniture not included).

The design of the homes is the responsibility of the Portuguese architecture firm, PROMONTÓRIO, to make sure that each house retains its individuality whilst at the same time being integrated into one common concept. That is ‘a contemporary Portuguese house with traditional inspiration that matches the landscape’. The company also talks of creating a ‘simultaneous immersion between the architecture and nature at Ombria Resort’.

Owners can either handle maintenance and the letting of their own homes independently, or hire maintenance and rental management from Ombria Resort, with all of these services provided through the hotel operator, Viceroy Hotels & Resorts. Villa owners will also be granted access and privileges to use the facilities of the Viceroy Hotel and the Ombria Resort golf course.

The €30 million investment into the construction of the Alcedo Villas is part of the €100 million that is being invested by 2022 by Pontos Group, in the first phase of the Ombria Resort development process. This first phase includes the five-star hotel Viceroy at Ombria Resort (with six restaurants, pools, spa, gym and kids’ club), 65 Viceroy Residences, a Conference Centre and an 18-hole golf course (already built and set to be open to the public at the same time as the hotel in early 2022).

Julio Delgado, chief executive of Ombria Resort, said: “This pandemic provides individuals with the opportunity to rethink the way we work and live. The Alcedo Villas are individual detached homes perched above a stream and with panoramic views of the surrounding natural landscape. The design maximises views, privacy and sun exposure for each villa. These are the perfect houses to those who want more work-life balance.”

Until 2030, the Pontos Group is set to invest a total of €260 million over three phases. Once completed, Ombria Resort will consist of around 380 properties, some of which are tourist units (apartments, semi-detached and detached houses) and others residential (detached houses).

Ombria Resort is also looking to offer a wide range of leisure and entertainment facilities, such as an area for organic farming, beekeeping, an astronomical observatory, heated pools, paths/trails for nature walks, mountain biking and a beach club on one of the nearby beaches.

Priding itself on its sustainability and eco-credentials, the total construction density of the Ombria Resort is described as being ‘extremely low’ - at about 3.5%, which makes it one of Europe’s lowest-density construction projects.

Ombria Resort is spread over 150 hectares of ‘serene, secluded and natural landscape in the inner Algarve’. It sits just seven kilometres north of the charming working town of Loulé, with its Moorish-style daily market, castle dating back to the 2nd century and very Portuguese feel.

The resort, which is only a short drive from Faro Airport, is aiming to be a pioneer of a new generation of low-density construction resorts, in which sustainability, the environment and the support of local heritage are priorities.

It also regularly highlights its credentials as a sustainable development, with plans to contribute to the reduction of seasonality in the Algarve and the creation of new opportunities for the local population.

Pontos Group – a family-owned Finnish investment company – is the owner and developer of Ombria Resort. It invests in real estate development and digitalisation, growth companies and private equity funds in Finland and globally and also places a key focus on developing ‘cities and population centres in a way that is sustainable for people and the environment’.

The first development phase of Ombria Resort is set to complete in early 2022, with the aim of setting the bar as a new generation of low-density resort development where sustainability, the environment and support of the nature and local heritage lie at the heart of the resort.