At the end of last year, Kronos Homes from Spain, also tried to commercialise the tourist complex, having been in negotiations with the Brazilian asset manager SPX Capital, but they did not reach an agreement.

According to Jornal Económico, which cites sources close to the process, the deal, if completed, will be communicated to the Competition Authority, which will have to give the transaction the green light.

The resort has 103 villas, 357 apartments and two five-star hotels, as well as a 27-hole golf course.

Kronos Homes recently sold the residential-tourist resort Amendoeira Golf Resort to the Rolear group, after five years of managing the project. With this sale, the company completes the sale of the portfolio it acquired from Grupo Oceânico in 2018, upon its entry into Portugal.

During this period, Kronos Homes repositioned the development, located in Alcantarilha, near Silves, in the Algarve, completed the requalification of the resort's infrastructure, remodelling the clubhouse, terrace, restaurants, bar at the sports center, and also reinforced the sports offer at the resort with the opening of two paddle tennis courts, according to the statement.