Bondstone announces the purchase of Quinta do Morgadinho, a 680,000m2 property located in Vilamoura, Algarve. This operation will lead to the development with a total investment of more than €100m. JLL acted as sell-side advisor in this operation, with Uría Menéndez-Proenca de Carvalho being the firm responsible for legal advice.
The property is in a prime area, in the centre of the Golden Triangle - close to the beach, golf courses, and Vilamoura Marina - with an approved allotment license, partially executed infrastructures, and unique conditions for the development of a highly differentiated residential project, compared to the existing offer in the area.
"This acquisition represents Bondstone's first project in Algarve and reinforces our commitment and presence in the Portuguese Real Estate market, as this is our largest investment in the sector to date. Our focus is the development of distinctive projects that elevate the national market and add value to the areas in which they are located, so with this investment, we intend to contribute to further enhancing the Algarve and continue expanding our portfolio," said Paulo Loureiro, Founder and CEO of Bondstone.