“This is a set of apartments that will attract a segment of customers with a high purchasing power who will benefit from high-quality services and that will create around 50 permanent jobs”, congratulated the mayor of Loulé at the laying of the first stone in Vilamoura.

The future development, called Domaine de Vilamoura, is the result of a partnership between Nexity Portugal, the Aegide Group, and Perial Asset Management, with a global investment of 47 million euros, with works to be completed within two years.

Vítor Aleixo stressed that the investment will make "an important contribution to the requalification of the area in which it will be built" and hopes that it will allow "quality and sustainable development".

According to the promoters, the development “is part of a large mixed-use urban regeneration project that will include residential buildings, tourist accommodation, shopping, and leisure”.

The project foresees the construction of 159 apartments, from studios to T3 apartments, ranging from 40 to over 100 square meters in size, within a total area of around 13,000 square meters.

“We are very proud of this project, which meets the needs and expectations of the municipality and the commitments of the Aegide-Domitys group towards the quality of life of our customers”, said Frédéric Walther, associate executive president of the Domitys Group, who will be responsible for managing the Domaine de Vilamoura.

Exceptional conditions

For his part, the director general of Nexity Portugal considered that “Vilamoura and the Algarve have exceptional conditions to attract seniors even outside the high season and that it is intended to have 200 to 300 people permanently in this development”.

Fernando Vasco Costa assured that the apartments to be built and the services to be offered are also intended for a Portuguese clientele, refusing to be “a luxury development” and defining the “middle-class” as target customers.