Overseas Announces €50 Million Luxury Tourism Project in Estremoz
Real estate developer Overseas has officially announced a €50 million investment for a large-scale tourism development in Estremoz, in the Alentejo region. The project, to be located at the Herdade das Pinas estate, involves the construction of a five-star hotel and an adjacent complex of tourist villas. The formal presentation of the project is scheduled for September 9th.
The development plan outlines two main components. The first is a luxury hotel that will occupy a construction area of approximately 13,500 square meters. According to the project brief from Porto-based architecture firm MassLab, the hotel will include a spa, a chapel, and dedicated event spaces. Capitalizing on the region's strong connection to viticulture, the plans also feature an integrated winery and wine shop, with on-site production capabilities.
The second component of the investment is a 7,500-square-meter development of tourist villas. These residences are intended to be marketed for tourism purposes, aligning with the overall strategy to enhance the region's hospitality offerings. The developer, Overseas, has confirmed that the project will also involve the partial rehabilitation of existing agricultural and livestock structures on the property to maintain the estate's traditional architectural character.
This investment is one of the most significant in the Estremoz municipality in recent years. The developer projects that the construction and subsequent operation of the hotel and villas will generate approximately 100 local jobs, providing a considerable economic benefit to the local community. The project aims to position Estremoz as a key destination for luxury tourism within the Alentejo.
The site of the development, Herdade das Pinas, is situated seven kilometers from the historic center of Estremoz, a city known for its medieval castle, marble industry, and characteristic Alentejo gastronomy. The project is designed to integrate with the natural and cultural landscape of the area, offering a modern tourism product that respects its surroundings.
Regulatory approvals for the project are proceeding, with construction expected to commence following the official presentation and fulfillment of all municipal planning requirements. The investment by Overseas signals strong confidence in the growth potential of the Alentejo tourism market, which has seen increased interest from both domestic and international visitors.
The project's financing structure has been secured through a combination of private equity and partnerships, according to sources close to the developer. The focus on high-quality construction and luxury amenities is intended to attract a discerning clientele, further diversifying the tourism landscape of the region. The completion of the project is anticipated to significantly increase the accommodation capacity in Estremoz and enhance its profile as a premium travel destination.
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