Grupo CS intends to invest EUR 8 bn to develop 16 hotels in Portugal. The assets, five of them already under construction, are due for completion in 2009. The group envisages beginning the second phase of Herdade dos Salgados tourist project and launching the Barragem de Montargil development in Algarve, in Southern Portugal by March 2007, the president of the Board of Directors Carlos Saraiva told the website Turisver.com.
Grupo CS intends to invest EUR 8 bn to develop 16 hotels in Portugal. The assets, five of them already under construction, are due for completion in 2009. The group envisages beginning the second phase of Herdade dos Salgados tourist project and launching the Barragem de Montargil development in Algarve, in Southern Portugal by March 2007, the president of the Board of Directors Carlos Saraiva told the website Turisver.com.
The property company presented its plans for a Portugal's major tourist project during the Lisbon real estate fair. The development consists of 2,000 tourist homes to be built in Portugal by 2011 for a total investment of EUR 1.25 bn, the Portuguese newspaper Vida Imobiliaria reported.
In a statement, the president of the group told journalists at SIL, 'the company is going to give more details about the projects at BTL', the international property fair which will take place in Lisbon from January 24 to 28.
