Two Portuguese property development companies and a Spanish hospitality company have announced a project to construct three hotels with a total of 411 rooms in the parish of Alvor, Portimão.
One of the entrepreneurs connected to the project is Miguel Pais do Amaral, through Top Building, which is fronting the deal.
The environmental impact study of the project, which covers a total area of 460,000 square metres, is under public consultation until March 15.
The project consists of a tourist development with three hotels totalling 11,500 square metres with 411 rooms between them.
The various developers came together because they owned separate adjacent lots in the area near Praia João de Arens.
Astronow, MI Estoril Invest, Areia Feliz, Top Building and Prainha have entered into an agreement to develop the greenfield site.