New investments for Portimão
Updated: 29-Jan-2009
 Portimão Mayor would like to see the next Bond movie being filmed in the area. |
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Plans to turn Portimão into an international city of cinema have been submitted to the CCDR, the regional development commission, by Portimão Câmara.
The project, which is backed by a consortium of international partners, is set to cost three billion euros and is predicted to create 7,000 jobs in the area. “The Picture Portugal Portimão plan proposes the creation of a cinema studio and a technology park which it hopes will involve the majority of the community at various levels,” said a spokesman from the CCDR.
It is estimated that 90 per cent of the funding will come from private investors, with the balance being sourced by Portimão Câmara.
Manuel da Luz, Portimão Câmara President, has said he is confident that construction for the project, which includes the building of a theme park and studios for the proposed filming of the next James Bond film, will begin in 2010.
Other proposed initiatives to be part of the project include the creation of an American Film Institute facility, the first of its kind outside the US and a centre for the development of X-Box (games console) games. “This project will put Portimão and the Algarve on to the global film map,” said Manuel da Luz.
The planned location of the film studios and theme park have yet to be announced, however likely sites include the riverside in Portimão or further inland, near the Algarve Motor Park.
The project is one of four currently being assessed by the CCDR as part of the PO Algarve 21 programme, where a 175 million euro fund has been created to support initiatives in the Algarve to promote, regenerate, create employment and encourage innovation in the region.
Other projects also being considered include one from environmental group Almargem and another from the federation of hunters in the Algarve.
Great Property deals for sale in Algarve, Portugal
This month we have some extremely good deals to offer, we have compiled some good deals which we can currently offer you in the Algarve. We have many properties which are not published so if you have special wishes please let us know.
Stunning elegant 4 bed villa with 2 bed guest cottage on Penina golf. Offers invited
Updated: 23-Jan-2009
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Formula One world champion Lewis Hamilton was in the Algarve on Wednesday putting the new McLaren-Mercedes MP4-25 through its paces at the Algarve Motor Park track near Portimão.
The British driver made his appearance with fellow team driver Heikki Kovalainen during a week of testing at the circuit.
This was the first time that Formula One racing had been in Portugal in an official capacity since Estoril lost its Grand Prix status.
Spanish star and double world champion Fernando Alonso was also at the track at the beginning of the week with team mate Nelson Piquet Junior as the new Renault R29 was unveiled to fans and press.
Both drivers expressed their satisfaction with the modifications made to the new car and cockpit while applauding the race track itself.
“It’s fantastic,” said Piquet, who compared the circuit’s undulations to those found at Spa or Istanbul.
“Great traction, very interesting and one of the best in the world – I feel at home!”
These sentiments were subsequently echoed by Williams’ Nico Hulkenerg, who enjoyed a first outing in the team’s FW31.
“It’s a great track,” the German test pilot said, “very safe, while offering challenging ups and downs, fast as well as tight bends- it is just a shame that the wet conditions do not allow us to push our cars to the limit at the moment.”
Although organisers and spectators alike must have been disappointed by the last-minute cancellation by Ferrari due to the adverse weather conditions, amid rumours that the latest F60 was not ready, there was still plenty of top machinery on view to the west of Portimão as Williams, Toro Rosso and Toyota also unveiled their 2009 cars.
Meanwhile, Parkalgar CEO Paulo Pinheiro negated the local implications of the financial crisis presently affecting motor sport.
“Our programme for the coming season has been confirmed in its entirety, there have been no withdrawals,” he said.
 Toyota battled against the elements during testing at the Algarve Motor Park. Photo: SUPPLIED |
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Defending the outstanding quality of his product, the driving force behind the long-standing Motor Park project said he was confident of its long-term success: “We will see if we can continue to make a difference.”
McLaren and Williams are both scheduled to return for further technical fine tuning between the 26th and 29th of this month and during the first week of February respectively.
Meanwhile the Parkalgar Honda team has been giving its riders Eugene Laverty and Miguel Praia a first chance to put their new 2009 CBR 600RR bikes through their paces in Almeria. Already familiar with the Spanish track from last year’s winter training, the Algarve’s very own Supersport team relished the opportunity to compare their progress with that of other teams present at the beginning of the week ahead of this weekend’s official World Superbike test back at their home track. This will be last time all the grid starters will be brought together ahead of the 2009 season which roars into life on Australia’s Philip Island on March 1.
Exclusive Algarve Villas wins 2 CNBC International Properterty Awards
AT LONG LAST – GOOD NEWS FOR PROPERTY!
After months of headlines announcing doom and gloom in the property market, here’s a long awaited positive story to restore our hopes, not just for now, but also the future.
We are proud to announce that
EXCLUSIVE ALGARVE VILLAS
in Portugal
Won 2 Real Estate Awards!
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Best Real Estate Agency
*****
Best Real Estate Website
It’s vital that, to succeed in such a highly competitive industry, estate agents, developers and others involved in the property business are naturally competitive. This desire to be the best has been channelled by a large number of professionals entering the European Property Awards in association with CNBC.
As with all competitions there are only a few winners and these were revealed at a gala presentation dinner at The Park Lane Hotel in London on Saturday the 27th of September. The turn out was tremendous with 300 guests and no less than 19 different countries represented across Europe.
The European Property Awards are part of the globally respected International Property Awards which have been running for 14 years.
EXCLUSIVE ALGARVE VILLAS has also been nominated for a WORLD’S BEST AWARD in the Best Real Estate Website category.
Director Bart van Linden said of the awards:
It’s a great achievement winning not only 1 but 2 of the most prestigious awards around in the Real Estate world. It is a big ‘well-done’ for our whole team and partner companies we work with. We’ve worked very hard in getting this far and we’re proud to perform on top level!
www.exclusivealgarvevillas.com/allnews.php
Algarve property market has sunny outlook for 2008
Although the international markets are instable and the media is talking us into a crisis the property market in the Algarve, Portugal still has a good forecast for 2008. With many investors shifting from stockmarket investing in a relative mature and secure market as Portugal is a safe investment.
An article published in the resident today also states a simular forcast
Updated: 31 January 2008
Region unaffected by property crisis
Portugal, and particularly the Algarve, seem to be unaffected by the current property crisis that has hit Spain.
By: NATASHA SMITH
natasha@portugalresident.com
DESPITE LAST year’s property crisis in Spain, where more than 100,000 people lost their jobs as half the country’s small real estate agents closed down due to a downturn in sales, the Algarve property market appears to be unaffected.
In 2006, around 40,000 of Spain’s 80,000 small estate agents were forced to close following a dive in sales over the last two years and industry experts believed that this signalled the end of the Spanish property boom, which has been a driving force for the country’s economy for years.
However, others believed that the industry was merely balancing itself out after the market became saturated with estate agents.
Former editor of The Resident, Brian Adams, has had many years of experience in the Spanish property industry and said part of the reason for the downturn is that “buyers are discovering other markets, including Eastern Europe” and with more affordable house prices, they are getting more for their money. “People have grown tired of the same old thing”, he said.
The property market and construction industry appear to be far more regulated in Portugal, Mr Adams said, adding “there was a free for all in Spain”.
“I don’t see why a domino effect should occur in Portugal. This problem appears to be indigenous to Spain”.
He also said that there is still so much green open space in the Algarve and local councils are preserving these areas. “If the Portuguese government has done enough in creating demand, the market will be in a strong position”.
The US Sub prime crisis and the subsequent credit crunch have made people reconsider their investments and hesitate about tying up money in property but Algarve estate agents believe that this will not affect the local property market.
They do believe that buyers are more aware of the potential problems and take longer to consider their options
Exclusive Algarve Villas – January 2008 Newsletter
http://www.eavillas.com/eav_newsletter/eav_newsletter_200801/eav_newsletter_200801.html
Welcome to Exclusive Algarve Villas
Based in Lagoa, on the western side of the Algarve, the idyllic, southern coast of Portugal, we offer a large and varied choice of magnificent villas, newly built or with quality renovations and exciting and innovative developments in the Lagoa and Carvoeiro areas and beyond. Whether you are looking for a beach front property, penthouse apartment or hillside retreat with dramatic views ,as an investment or holiday home, we are available 24 hours per day to assist in your search.
On you will find a great selection of properties throughout the Algarve. For investment opportunities please call us 7 days a week on +351 918 024 082
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