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Properties for sale on Autodromo do algarve
Algarve MotorPark celebrates successful first year
7/11/2009
The AIA celebrated its first anniversary on Tuesday after a successful first year, which saw over half a million spectators walk through its gates to watch some of the best sporting events worldwide.
With the track being busy over 85% of the time in its first year, Paulo Pinheiro, CEO of the AIA (Autodromo Inter-nacional do Algarve), considers the tracks first year to have been a great success: We hosted the best sport events in the world and professional racers consider the track to be one of the best in the world. Besides, as a circuit does not survive only on great racing events, the track was occupied 85% of the time in its first year. For twelve months of activity, we could not ask for more. said the CEO.
After being built in only seven months, with around 120 million being spent so far, the track currently has 68 full-time employees, and has received over 500,000 spectators, who saw over 1,112 drivers on the track.
Among other events, the AIA has hosted the Superbike World Championship, A1GP, Le Mans Series, FIA GT, GP2 and two track testing days for Formula 1.
In 2010, Paulo Pinheiro hopes to strengthen the tracks international presence and attract more people to the racetrack. (source The Portugal News)
Stronger signs of global recovery
By Chris Giles, The Financial Times
November 3, 2009 — Updated 0416 GMT (1216 HKT)
From Seoul to San Francisco, there are signs in manufacturing of a global recovery.
STORY HIGHLIGHTS
- From Seoul to San Francisco, manufacturing sentiment has recovered quickly
- October output around the world was rising at the fastest rate for five years
- Strongest recovery is happening in Asia, according to manufacturer reports
Signs of recovery after a torrid year reverberated around the world on Monday as manufacturers reported rising output and improved employment prospects in the US, Europe and Asia.
From Seoul to San Francisco, manufacturing sentiment has recovered quickly from the sudden shock of the global recession last year, when world trade stopped dead and unsold stock piled up in warehouses across the world.
A year on, manufacturers reported that in October, output around the world was rising at the fastest rate for five years. The JPMorgan global composite purchasing managers’ index (PMI) rose to 54.4, up from 53 in September, the highest value since July 2004.
The biggest surprise came in the US, where the Institute for Supply Management’s factory index rose to 55.7 from 52.6 in September. The figure, well above market expectations, sent stocks in the US and Europe surging as it was seen as evidence that the recovery was more durable and entrenched than previously thought.
At the close of trading in Europe, the Eurofirst 300 index of European shares was 0.39 per cent higher at 980.28, while the FTSE 100 index rose 1.2 per cent to 5,105. The S&P 500 was up 0.7 per cent.
More encouraging than the stock market reaction for the US was that the employment component of the ISM figures jumped from 46.2 in September to 53.1 in October, the highest reading since early 2006.
Paul Ashworth of Capital Economics said: “At that level, the index suggests that factory sector payroll employment may have stabilised.”
The US has seen job shedding at a rate not experienced elsewhere and this boost to the labour market comes a few days before crucial figures on Friday will show whether US unemployment has risen from its current 9.8 per cent rate to hit the symbolically important 10 per cent level.
Speaking at a White House meeting of his Economic Recovery Advisory Board, Barack Obama, the US president, said the US economy had recovered a lot of ground since January, but still cautioned that there was still more pain ahead for US employees. “We anticipate that we are going to continue to see some job losses in the weeks and months to come,” he said.
Around the world, manufacturers reported rising output, falling stocks of finished goods and encouraging new orders as the recovery gained momentum. They were strongest in Asia, where economists said the PMI figures were consistent with pre-crisis growth rates, but also reached multi-year highs in France, the UK and the US.
On Tuesday, equivalent surveys of service sector companies will indicate whether the renewed optimism in manufacturing has spread to this larger sector of modern economies. If the figures show the world’s economies are entering a strong recovery, it will ease pressure on the finance ministers of the Group of 20 who meet this weekend in Scotland.
But signs of recovery will also add to the urgency facing the G20 to come up with more detail on how it intends to enforce its plans for more balanced global growth as the outlook improves.
The figures come as central bankers weigh up the strength of recovery ahead of interest rate decisions in the eurozone and the UK on Thursday.
Source http://edition.cnn.com/2009/BUSINESS/11/02/global.manufacture.recover.ft/index.html
Wealthy Brazilians are visiting Portugal in record numbers
Brazilian tourists coming in record numbers
31/10/2009
Portugal is consolidating its position as the second preferred European destination for Brazilian tourists, a senior tourism official said Friday.
Paulo Machado, head of the European Tourism Commission in Latin America, told Lusa that Portugal had followed France as the prime destination for Brazilian holidaymakers in Europe since June 2007. In 2008, Portugal drew nearly 460,000 Brazilian tourists who stayed an average seven nights in the country and spent an average 192 per day, 34 more than the overall average, Machado said. Machado spoke to Lusa on the sidelines of Latin Americas biggest tourism fair in Rio de Janeiro.
Source The Portugal news
Another new retail park coming to Portimao
Western Algarves largest shopping centre unveiled
31/10/2009
Last Thursday the largest shopping centre in the Western Algarve, Aqua Portimão, was publicly unveiled at a press conference attended by regional dignitaries, future shop owners, and the media.
Excluding the Jumbo hypermarket which will soon take shape within Aqua Portimão, the centre represents an investment of around 106 million.
Set to open at the beginning of 2011, it comprises 132 shops, 7 key stores and more than 20 restaurants all spread over three floors.
Covering an area of 35,500 square metres (including the 11,750 square metre Jumbo hypermarket) it will further provide 1,800 parking spaces in a three-story car park.
Being located in the Algarves second largest city, Aqua Portimão expects to cater for more than 188,000 residents from a catchment area of 30-minutes driving distance.
During summer that number is expect to increase four-fold.
Aqua executives aim for the shopping centre to offer a leisurely experience as well as being an area of commerce. This objective is being translated into reality with a modern, contemporary architectural design based on quality, comfort and well-being.
At the forefront of architects concerns are environmental and sustainability issues. The centre has been designed to be one of the citys lowest energy-consuming buildings and will directly create 1,500 jobs.
Numerous well-known national and international brands will be found within Aqua Portimão, including modern and fashionable local concepts.
Created by Sua Kay architects and co-owned by Klépierre and Generali Immobiliaire, Aqua Portimão is being constructed by Bouygues Real Estate and promoted and managed by Ségécé Portugal.
According to Aniceto Viegas, General Director of Bouygues Real Estate, Aqua Portimão is a commercial area that will provide answers to the needs of the local population and fit naturally within the dynamic development that the region has been experiencing.
Aqua Portimão confirms Klépierre, Ségécé and Generallis will to invest in Portugal, and is a matter of pride for us as we have noticed that even in moments of adversity that we have been through, we have still created more jobs and contributed to the commercial dynamics of a region that is in full development, added Luís Pires, General Director of Klépierre and Ségécé Iberia.
Recently re-elected Portimão Mayor, Manuel da Luz also praised the future Aqua Portimão by saying It is an investment that represents a municipal strategy to invest in quality and will create yet another point of attraction for the City.
This project had to be one of excellence as Portimão wants to invest in quality, he added.
Source The Portugal news
Fresh investments on the way for new 5 star hotel on the Algarve’s West Coast
Aljezurs first luxury five-star hotel
31/10/2009
Aljezur will have the first five-star hotel on the West Coast, which will use the National Park as an attraction for guests.
In a region where five-star establishments are mostly concentrated in the Eastern and Central Algarve, the West Coast will soon boast its own luxury development. The hotel will be built in the Canal Malhões area, near the Canal beach, and will have a total of 118 beds, a Spa, several pools (one of which will be a biological pool) and an area with restaurants, bars and an esplanade.
In order to diminish the impact of the bu
Aljezurs first luxury five-star hotel
31/10/2009
Aljezur will have the first five-star hotel on the West Coast, which will use the National Park as an attraction for guests.
In a region where five-star establishments are mostly concentrated in the Eastern and Central Algarve, the West Coast will soon boast its own luxury development. The hotel will be built in the Canal Malhões area, near the Canal beach, and will have a total of 118 beds, a Spa, several pools (one of which will be a biological pool) and an area with restaurants, bars and an esplanade.
In order to diminish the impact of the building within a wilderness area, as it is to be located in the Southwest Alentejo and West Coast Natural Park, some areas of the hotel will be below ground, such as the Spa, which will have a four kilometre walkway to the beach. According to the projects architect, João Favila, the idea of the hotel is to involve clients with the surroundings and not just the hotel. Instead of being a hotel that enjoys the scenery, we believe the landscape should be an experience said the architect, who also spoke of the difficulties of building the complex in a deserted area. Another of their ideas to not spoil the surroundings is the hotels beach bar, which will be totally mobile and brought back to the hotel at the end of every day.
The predicted investment for the luxury hotel is of 14 million and the Madeira based Leacock Investments group will be in charge of the construction, its first venture in continental Portugal.
ilding within a wilderness area, as it is to be located in the Southwest Alentejo and West Coast Natural Park, some areas of the hotel will be below ground, such as the Spa, which will have a four kilometre walkway to the beach. According to the projects architect, João Favila, the idea of the hotel is to involve clients with the surroundings and not just the hotel. Instead of being a hotel that enjoys the scenery, we believe the landscape should be an experience said the architect, who also spoke of the difficulties of building the complex in a deserted area. Another of their ideas to not spoil the surroundings is the hotels beach bar, which will be totally mobile and brought back to the hotel at the end of every day.
The predicted investment for the luxury hotel is of 14 million and the Madeira based Leacock Investments group will be in charge of the construction, its first venture in continental Portugal.
Source The Portugal News
New high speed train connection from FARO to Spain coming despite recession
High-speed train for Faro
31/10/2009
Within days of unveiling his new cabinet, which included a new minister for transport and public works, Prime Minister José Sócrates has now revealed the intention to build two additional high-speed rail links in Portugal, one of which will see Faro linked with the rest of Europe.
Coming at a cost of 2.9 billion euros, the Algarve capital will be linked with major high-speed rail networks in Portugal and Spain, a Government report has revealed.
While the idea in itself is not new, details of the report, published this week in the Diário Económico show that Prime Minister Sócrates will make the building of these high-speed rail links one of his cabinets priorities, despite the current global economic crisis.
During his inaugural speech after the new Government was sworn in, the prime minister made it clear that he would not dilute plans to invest in excess of 60 billion euros between now and 2020.
Besides the Lisbon airport, new motorways and hospitals, the Government is looking to spend in excess of ten billion euros on the high-speed rail network in Portugal.
The first line, linking Lisbon with Madrid, is expected to be complete by 2013 and will come at a projected cost of 2.15 billion euros. That same year, the line linking Oporto with Vigo in Spain will also be concluded, having cost the Portuguese taxpayer an additional 845 million euros.
Two years later, the Lisbon-Oporto line will be finished and will also be the most important nationally, transporting an expected one million commuters a month and countless tons of merchandise between the nations two major metropolitan centres.
This particular line is expected to require an investment of 4.5 billion euros.
The two new lines contained in Government proposals, will see Aveiro in central Portugal connected with Salamanca in northern Spain (costing 2.3 billion euros), while the second will see Faro linked to Lisbon via Évora and the rest of Spain via Huelva.
Estimates are that the train travelling from Faro will take under 30 minutes to reach Huelva and will have a maximum speed of 300 kilometres an hour, though it remains unclear where the train will cross the Guadiana River and what infrastructure will be used to do so.
The 200 kilometre trip to Évora will take slightly longer than would be expected, covering the distance in a mediocre 90 minutes.
The building of these two lines was first discussed at international level back in 2003 during the annual Iberian Summit, where they were agreed to in principal.
They were later included in a resolution presented by the Council of Ministers in 2004, with current opposition leader Manuela Ferreira Leite, the Finance Minister at the time.
In the meantime, new Transport and Public Works Minister António Mendonça is a staunch advocate of the potential benefits that could be reaped from major public investments and is already pushing to have these new lines approved.
It is believed the minister will be working to the ensure environmental impact studies are conducted as soon as possible on these two new proposed lines in order to secure European funding for these high speed rail links as soon as possible and have them concluded within the next eight years
Source The Portugal news
