According to newspaper Correio da Manhã the low-rise luxury units will create some 400 jobs.
The newspaper states they are to be built on one of the few remaining non-developed swathes of countryside in that area.
The tourist project is part of an urbanisation plan approved by Portimão Council in January 2008; its Environmental Impact study report is open for public consultation until 15 March.
The project covers an area of 31.7 hectares, located south of the V3 highway (between the Símon Bolívar roundabout and access to the Prainha tourist complex), extending towards the sea.
Three 5-star hotels are planned, with a total of 411 rooms, corresponding to 822 beds.
The development is promoted by the companies Astronow, MI Estoril Invest, Areia Feliz, Top Building and Prainha, with a period of six months established for the execution of the general infrastructures, and from 16 to 18 months for the construction of each of the hotels.
According to the documents up for public consultation, “the main area of concession for the municipal public domain is the coastal belt”, where a “flyover” must be created, to allow guests’ access without overrunning an area with protected natural habitats and plant species”.
Sitting Portimão Mayor, Isilda Gomes, told the newspaper that “the issues raised during the public consultation phase will be analysed” and the council will make a decision on them at the end of the consultation.