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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.
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