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Should investors be considering the Algarve’s newest development?

A new five-star hotel and branded residences have started construction in the heart of the Algarve, it has been revealed.

Ombria Resort, a luxury real estate development at the centre of Portugal’s most famous holiday region, recently announced commencement of building works on the Viceroy at Ombria Resort and the Viceroy Residences at Ombria Resort.

The developer says this marks a key development milestone in the lead-up to the opening of the first phase of Ombria Resort in early 2022. Ombria Resort spreads over 150 hectares of ‘serene, secluded and natural landscape in the inner Algarve’, whilst being just eight kilometres north of the ‘charming town’ of Loulé – home to a Moorish-inspired covered market, a castle with origins dating back to the 2nd century and pretty cobbled streets full of authentic Portuguese shops, cafes and restaurants.  

Since the summer of 2018, ground excavations and geothermal system works have been ongoing and are now completed, which means construction has begun with immediate effect on the hotel and residences, as well as the development’s planned conference centre. The golf course is also already completed, with construction now commencing on its stylish golf clubhouse, which will offer panoramic views across the course. 

The development is set to feature 76 luxury guest rooms and suites in addition to 65 one and two-bedroom branded residences, both managed by five-star US-based operator Viceroy Hotel Group.

Should investors be considering the Algarve’s newest development?

Situated on a hilltop with 360-degree views of the surrounding green landscape, the hotel has been designed by the international architectural firm WATG in partnership with Portuguese architects PROMONTORIO, with the aim of blending a countryside atmosphere with ‘exceptional attention to design, service and detail’.

Guests will have a number of facilities and services at their disposal, including a spa, healthcare and fitness facilities, several restaurants and bars, a kids’ zone, an astronomical observatory, a conference centre and indoor and outdoor swimming pools.

The residences, meanwhile, will include 65 one and two-bedroom apartments, part of and located within the hotel. Ranging in size from 70 to 173 square metres of gross internal area, or 90 to 356 square metres of total area, each of the apartments has a fully-fitted kitchen or kitchenette, living room, bedroom(s), bathroom(s) and terraces, some with their own private garden and swimming pool or jacuzzi.

The apartments are being sold freehold and are fully furnished and equipped to exacting five-star standards.

Owners will have access to the hotel’s facilities and services, including concierge and property management provided by Viceroy Hotels & Resorts.

The golf course, designed by Jorge Santana da Silva, is set to offer one of the finest golf challenges in the region, across an 18-hole, par 70 course spanning 6,000 metres.

The clubhouse will be built into the castle-like walls of an existing farm ruin and will house the reception desk and pro shop, in addition to a sports bar, restaurant and outdoor terrace, a gym with sauna and jacuzzi, and an outdoor swimming pool.

The Viceroy at Ombria Resort says its unique geothermal system is one of the largest on the Iberian Peninsula, with the innovative renewable energy system, along with solar panels, meeting the needs of indoor heating and cooling, hot water production and heating of the hotel pools. This, the resort says, will help to reduce its overall carbon footprint and contribute to the development’s sustainability ethos.

 “We are thrilled with the ongoing momentum of Ombria Resort. Pre-sales of the Viceroy Residences started earlier this year and we have seen strong interest and sales, with the official launch expected imminently,” João Richard Costa, director of sales & marketing at Ombria Resort, said.

“We have recognised a high demand for high-end new-built properties in the Algarve, as property owners are inherently looking for three things: location, security and peace of mind, and Portugal, and particularly the Algarve, continues to deliver on all fronts.

He said branded residences are also increasingly in demand, in particular with globally mobile, time-poor, high-net-worth individuals seeking a high level of service, a property that provides a rental return and a home that is well-looked after even when it’s not being used.

The Viceroy Residences at Ombria Resort come fully-furnished, whilst owners will receive a guaranteed net rental income of minimum 5% for 5 years, with owner usage up to 10 weeks per year - an ideal investment for obtaining a Golden Visa or simply as investment in luxury real estate in a premium resort,” Costa added.  

Julio Delgado, chief executive at Ombria Resort, said they were delighted to announce ‘these significant development milestones’ as the opening of Ombria Resort in early 2022 moves ever closer.

“We are proud to be working with Viceroy Hotel Group, which brings the first Viceroy Residences to Europe,” Delgado said. “By working with such a prestigious and well-established brand, both our guests and owners will benefit from the professional services of a renowned operator and are buying into their ethos as well as ours.”

For the last 15 years or so, Pontos Group – the developer of Ombria Resort – has been committed to the development of Ombria Resort with a vision to ‘provide the finest resort experience by delivering a luxury development which is perfectly integrated into the area where it is located’.

You can find out more about the project here.  

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