Project for the 200-hectare plot in Melides, in the municipality of Grândola,
 includes hotels, villas, apartments, shops and a golf course.

Lisbon, May 5, 2020. VIC Properties SA (“VIC Properties”) has just bought Herdade do Pinheirinho, located in Melides, in the municipality of Grândola. With a deployment area of approximately 200 hectares and direct access to the beach, this project includes hotels, villas, apartments, shops and a Golf course.

VIC Properties is currently reassessing the existing studies and types of usage of Herdade do Pinheirinho, to improve a project first developed more than 10 years ago. After the strategy definition phase for this new challenge, VIC Properties is to start the development of the project as soon as possible. Currently, there are plans ongoing to build a hotel, 450 villas and 250 apartments, along with a golf course already in operation.

João Cabaça, CEO of VIC Properties stated that this is a “strategic acquisition” by this promoter and he believes that in the coming years “there will be an increasing appreciation of second homes, located in contexts closer to nature”.

“There is an increasingly strong trend to offer what people wish for in the future, such as second homes surrounded by nature, with outdoor spaces, offering the possibility of engaging in leisure and sports activities”.

João Cabaça added, recalling that Herdade do Pinheirinho meets all these conditions, plus the added value of being located just over 1 hour away from Lisbon.

“This is an area with great potential VIC Properties identifies a lot with and is willing to focus in the coming years.”

Pinheirinho is also “a landmark for VIC Properties and completion of its first venture outside the city of Lisbon will reinforce both its solidity and growth”

For Luís Gamboa, COO of VIC Properties, the development of Herdade do Pinheirinho should “increase the offer in an area that needs structural projects, thus improving the offer of services in this region”.

“We are sure that Herdade do Pinheirinho will be a benchmark project in Portugal, with a strong impact on the national real estate sector, as well as on the economy and the creation of jobs locally”.

With this acquisition, VIC Properties strengthens its portfolio of developments in Portugal, adding to Prata Riverside Village and the Matinha project, both in the parish of Marvila, in Lisbon.