IFA Hotels & Resorts Acquires Residential Properties in Portugal

IFA Hotels & Resorts (IFA HR), leaders in mixed use hotel and tourism resort projects throughout Europe, the Middle East, the Indian Ocean region and Africa, have acquired two residential buildings in Pine Cliffs Residence, the prime tourist resort of the Algarve, Portugal for US$ 35 million. The resort sits on 3.2-mile-long strip of beach front and on an area of 172 acres.

This is the first investment for IFA HR in residential projects in Portugal. IFA HR will be responsible for all re-sales through their international network of offices. This is part of the company’s strategy of investing in various residential and mixed use developments to further expand product range and global presence.

Located in one of the most exclusive areas in Europe, Pine Cliffs Residence will be managed by the Sheraton Algarve and will consist of 2 and 3 bed roomed units, furnished to the highest quality. The resort is surrounded by a pine forest, overlooks the ocean and is home to a superb golf course.

Pine Cliffs Residence was launched as an innovative freehold property investment that combines a trouble free holiday home, with a minimum 5 percent guaranteed return on investment per year for the next three years, with strong capital growth potential.

The facilities will also include access to Casa Pine Cliffs which will include a reception, a restaurant, terrace-restaurant, gymnasium, health club, mini-market and swimming pools. The owners will also benefit from other facilities provided within the Sheraton Algarve & Pine Cliffs Resort such as a golf course, golf academy, clubhouse, tennis academy, eleven restaurants, five swimming pools (indoor and outdoor), beauty salon, health club, a children’s play area, several shops, business center and a unique beach distinguished with the golden flag, which can be accessed through a panoramic elevator or by stairs.