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The ‘Royal Algarve’ will perch at the highest point of Pinheiros Altos and overlook the Ludo Valley and Golf Course. A central building will house the luxury spa plus sports and dining facilities. The property will feature eight circular buildings, each with 18 luxury suites, amidst lush gardens and pine forests - a total of 144 luxury suites and 38 apartments. This 80 million euro project is the latest investment in the Algarve by the JJW Group, who have also recently announced the acquisition of four other prestigious luxury properties in the region.

The 268 million US dollars deal with ‘Starman Hotels’ included the San Lorenzo Golf Course, widely considered to be the best golf course in Portugal and one of the top five courses in Europe; the Dona Filipa Hotel, a luxury five-star hotel, closely associated with the San Lorenzo Golf Course; and the Penina Hotel and Golf Resort, a five star hotel and resort that has played host to the Portuguese Open on numerous occasions.

During a press conference, Sheikh Mohamed Bin Issa Al Jaber stated, “With this new venture, we look forward to raising the value of our assets in the Algarve to over 500 million euros. After 20 years of continuous excellence in Portugal, JJW Hotels and Resorts has consolidated its position as a major player in the Portuguese luxury hospitality industry.”

Carlos Rochas, General Manager, JJW Portugal, stated, “From the beginning, we realized that this was the perfect opportunity for JJW to further develop these two hotels and the world famous San Lorenzo Golf Course. With a proven track record in Portugal and Europe, JJW Hotels and Resorts have chosen four luxury properties to broaden its already stunning offering of signature hotels and resorts across the continent.”

Since it was founded in the late 1980’s, JJW Hotels and Resorts has built a strong portfolio of luxury hotels in prime locations such as London, Paris, Vienna, the Middle East and the Algarve, where the highly exclusive Pinheiros Altos Golf Resort is now moving ahead into the next and most prized phase of its development programme with the construction of the Royal Algarve, which will open in the first quarter of 2009.

The global group, which combines the companies owned by the self-made Arab entrepreneur, enjoys annual revenues of some 1.9 billion US dollars and an asset-base worth 6.6 billion dollars. It employs 11,000 people and operates in Saudi Arabia, Egypt, Iraq and across Europe and the United States.

 

source: http://www.euroweeklynews.com