Algarve hotel take-up down 60%

Room occupancy in the Algarve’s hotels fell 60% in July like-for-like on 2019 according to the Algarve hotel association AHETA. The average total occupancy per room was just 33,2 percent according to the industry association. In a statement, the Association of Hotel and Tourist Enterprises of the Algarve (AHETA) states that the British market was […]

EDP bosses stump up €2 million bail

The CEO of EDP, António Mexia and CEO of EDP Renováveis, Manso Neto have paid up the €2 million in bail required by super Judge Carlos Alexandre to keep them out of jail. The two top brass at Portugal’s multinational electricity giant, who are currently suspended from their posts, stand accused to manipulating the market […]

Portugal’s gold reserves skyrocket to €20Bn

Portugal’s gold reserves, some of it stolen by the Nazis from Jews in the late 1930s and World War II, has skyrocketed in value with the increase in gold prices. Portugal, while not the richest country in Europe, does in fact have one of the largest gold reserves in Europe with around 383 tonnes of […]

Ageas buys Lisbon’s Expo tower

Insurance group Ageas Portugal is close to clocking up €500 million in property assets after adding Lisbon’s Expo Tower to its portfolio. The Expo Tower, designed by architect Mário Sua Kay is one of the iconic buildings at the Parque das Nações (formerly the Expo98 site). It was bought from the fund manager Ancoragem Capital […]

Uptown Vilamoura by Vilamoura World

Uptown Vilamoura is a project of 31 villas and apartments that front onto the fifth hole of Vilamoura’s famous Victoria Golf Course - which annually hosts the Portugal Masters, part of the European Tour. The homes currently under construction are surrounded by green countryside and include a clubhouse and swimming pool.
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