The planned project, costing €1bn and spanning 360 hectares, will consist of 3 lakes connected by navigable channels.
The main square will be the business area, with shops, bars and restaurants, and central island with a stage for holding various events.
There will also be hotels, apartments and villas, totalling 3,000 beds, and around 300 of the properties have a private berth.
Although the permission to build has now been granted, the sale of Vilamoura to Lone Star has delayed the start of the project, meaning property prices have remained stable, and making Vilamoura a fantastic investment opportunity at the moment as, once construction has begun, prices will sky-rocket.
This lovely apartment is situated right in the heart of Vilamoura, just a couple of minutes stroll from the existing marina and about 5 minutes walk from the planned extension. It is on the market for €450,000.
This fabulous villa is near the Vila Sol golf resort on the outskirts of Vilamoura, just a 5 minute taxi ride from the centre. It is on the market for €530,000.
This beautiful townhouse is located on the Vila Sol resort. It has a roof terrace offering beautiful views towards Vilamoura which is just 5 minutes away. It is an absolute bargain at only €295,000
For more information on these or other fantastic properties please contact the team at Ideal Homes on UK Freephone 0800 133 7644 or (00351) 289 513 434, email us info@idealhomesportugal.com or visit the website www.idealhomesportugal.com
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