The Economy Minister attended a presentation at the 2016 Lisbon Property Show at which a 60 hectare development plan was unveiled for the Loulé area.
A 'technology center for business innovation' to including shops, a wellness centre and leisure facilities, situated near the Via do Infante motorway’s Loulé junction, certainly was the largest real estate investment launched at the show.
This latest business park plus retail experience has been classified as a Development Centre (Núcleo de Desenvolvimento) and the government already has recognised this project as being ‘of regional interest.’
The investment is being promoted by Enolagest Group, which has assembled 38 Algarve-based companies involved in real estate investment activities.
Minister Manuel Caldeira Cabral was shown the plan of the project on the Garvetur stand and heard that the detailed plan calls for investment of about €300 million at the Loulé site to create a technology center for business innovation along with retail and leisure 'opportunities.'
Enolagest Group has confirmed that the project has received the green light from the government departments covering Industry, Tourism and Regional Planning, and (rather surprisingly) Nature Conservation and that the project can go ahead. This is the first the public has heard of the plan and that it already has government approval.
According to Reinaldo Teixeira, director of Garvetur, "the complex will be equipped with a 3,500 seat conference auditorium, a Wellness Center, as well as service areas, shopping and leisure, allowing the creation of around 2,000 direct jobs and another 1,000 indirect jobs."
The Garvetur-Enolagest project spokesman said the location of the complex, south of Loulé has good access, and that it "will contribute to the solidification of a tourism front across the interior of the Algarve and to the creation of other activities to combat seasonality in a framework of sustainable development in the Algarve region.”
The presentation of the project by Olavo Cruz from Difusor de Arquiteturas, was attended by several members of the Government, the President of the Portuguese Industrial Association Foundation (AIP) Cmdr Jorge Rocha de Matos and Luis Lima from the Association of Professionals and Real Estate Companies of Portugal (APEMIP) among other national and regional suits.