Wednesday, 24 May 2017
A- A A+

MORGADOGOLFFounded in 2006 by António de Sousa and Fernando Esmeraldo, ECS is a private equity and restructuring company focused on the Portuguese market and manages three funds where it aims to ‘generate sustainable long term returns.’

ECS hit the headlines when it bought the derelict Salgados hotel and conference centre near Gale, assets of the CS Group (Carlos Saraiva), via its Tourism Recovery Fund, one of three funds focused on ‘acquiring defaulted or impaired corporate credits in order to recover companies with sustainable business models.’


This year’s Sagres Birdwatching Festival starts on October 2 and is the largest such event in Portugal.

The successful festival format is sponsored by Vila do Bispo council, the Portuguese Society for the Study of Birds (SPEA) and eco-group ALMARGEM.

Flamingos at SalgadosSo this is a Salgados update, and the first question I want to answer is “Why’s it taken so long?

The short answer is that ever since last November I have been asked to keep shtum about the latest developments, despite being intimately involved with them … and as one who prefers taking action it’s been a tough call let me tell you!

Linaria AlgarvianaThe discovery of world’s largest colony of Protected Rare Plant may still save Salgados Wildlife Sanctuary. The Portuguese Government is being asked this week whether it will fulfill its responsibility to protect the recent discovery of the largest colony of one of the rarest plants in the world.

This discovery has been made on land that is controversially scheduled for “development”.

egretThe need to "defend the public interest” and to highlight the “shortcomings detected in the impact assessment process” were the two key reasons used by the Friends of Salgados environmental organisations to lodge last week’s injunction against the Praia Grande development near Armaçao de Pêra, Silves proposed by developer Finalgarve.

The injunction was lodged at the Fiscal Court in Loulé to halt the development plan for Salgados/Praia Grande by Finalgarve, and to seek the annulment of the flawed Environmental Impact Statement.

salgados aerialSuch is the balance of power at Silves council the mayor, despite having registered her disapproval at the plans to turn the Salgados and Praia Grande areas into a large tourism development, has had to report that the council as a body elect decided last Wednesday to oppose the injunction logged in Loulé court by environmental groups to have the Salgados/Praia Grande project declared illegal.

salgadosSix environmental organisations have lodged an injunction in Loulé court to block the building of the Praia Grande tourist complex near Lagoa dos Salgados, Armaçao de Pêra, Silves.

The project submitted by Finalgarve, part of the property arm of failed bank BPN, was approved by Silves council under the leadership of Isabel Soares and was passed by the Minister of the Environment in November 2011 despite an international online petition of over 32,000 signatures and much local opposition.

egretThe new Mayor of Silves does not agree with the real estate and tourism project planned for Praia Grande, near Lagoa dos Salgados, but admits that "with all that has been previously approved, it will be very difficult now to alter the situation.”

Speaking to Sul Infomaçao, Rosa Palma reacted well to the Environmental Impact Statement (EIS) which was 'favorable with conditions’ issued on October 30 by the Secretary of State for the Environment, Paulo Lemos.