The developers behind the project, located in the opulent Quinta do Lago, part of the famous Golden Triangle of the Algarve and home to some of the best golf courses in the world, are the Portuguese real estate company Green Jacket Partners and the Brazilian asset management company SPX. Capital. One Green Way represents SPX’s first project outside of Brazil and was motivated by the friendship and relationship it has with Green Jacket Partners.
The company, where loving golf is a must (the clue is in the name), is run by João Fonseca, partner and CEO of the company, who picks us up at the hotel where we are staying and takes us to the One Green Way’s HQ. Once there, he articulately and passionately lays out the vision of One Green Way, which – when completed – will comprise 89 contemporary luxury residences, in the form of villas and apartments, that stand out for their striking design. and their large dimensions. ‘.
Like all Algarve listings, it lists the region’s 300 days of sunshine a year as a big draw for buyers (ironically the day we visited was one of the few rainy days!) , as well as the quality at stake with the residences. Fonseca explains how residences have everything an investor or buyer could need, from Italian-designed kitchens to wine cellars, home offices (increasingly important since Covid), smart technology, car chargers electricity, heated swimming pools and optional cinema rooms.
Construction started the week we visited (mid-September) so it was hard to see the vision in person, but the impressive presentation Fonseca gave us underlined how special the apartments and villas will be once finished – beautifully furnished, contemporary, lovingly designed.
Emphasis is also placed on shared outdoor spaces and community. This may not always be the case with luxury programs, which can sometimes feel a bit individualistic.
The feeling of an all-in-one experience for buyers and investors is further enhanced by the facilities and amenities on offer, ranging from a front desk and concierge to a business center, on-site restaurant, a rooftop lounge bar, communal pool and bar. , high-tech gym, children’s area and padel court.
The partnership behind the development has updated the previously outdated master plan to bring it up to current standards. Fonseca says there is no particular focus on sustainability, as this should now be incorporated into all new developments. It’s taken for granted, he said.
“We hired Paul Cracknell to do all the landscaping – he knows the area, he knows the area, he knows what people want,” Fonseca said.
He added that during a global cost of living crisis, Portugal is a relatively cheap country, with a favorable tax regime for foreign investors.
“The cost of living in Portugal is still cheap compared to the rest of Europe. It’s also easy to get to – just two and a half hours from London,” Fonseca continued. “The Algarve continues to be an attractive and compelling prospect. The weather, the food, everyone here speaks good English.
Only 3% of buyers are national Portuguese, he said, which will give One Green Way a very international flavor – in line with the rest of Quinta do Lago.
It also highlights the growing attractiveness of the Algarve for investors – with good air links, international schools, more international hospitals. There are also more and more Michelin-starred restaurants and luxury boutiques.
But Fonseca also highlights Portugal’s more relaxed luxury offering when he talks about “modern, sustainable, high-quality – but not in your face” residences. The program also wants to offer the same service and experience for all residences.
He says the size of the apartments comfortably rivals other offerings at Quinta do Lago. “It’s an apartment on steroids,” he says, and the visuals back it up.
What’s the latest?
The program is expected to be delivered by December 2024 and is currently around 50% sold. Sales only opened in April this year and, according to Foncesa, quickly sold out “ultra-fast”.
He insists that prices will not change despite this strong early demand. Most buyers, as is the case with most of Quinta do Lago, are from the UK and Ireland, and Fonseca insists Brexit was actually good for the program as it encouraged people to buy so that they have access to the Schengen area.
Fonseca aims to create a seamless sales experience, welcoming most guests and potential buyers itself.
“We’re not rushing them, we’re not in a rush. We want them to take their time, properly review floor plans, get to know the area before buying. »
We are kindly accommodated at the five star Quinta do Lago for a two night stay, to help us get a sense of the area. The hotel overlooks the Ria Formosa Nature Reserve and white sand beaches and offers plenty of walking and cycling opportunities.
There are a number of top quality restaurants in the area which are pleasantly relaxed and unpretentious. One evening we head to Bovino Steakhouse, which somehow appears in the middle of a quiet residential area, but is packed with diners on Sunday evenings.
It’s all about informal luxury, the servers are great, the food excellent and artfully presented, and the experience exemplary. Even if you don’t like steak or meat in general, there are plenty of options available. We both opted for the fish of the day, accompanied by generous garnishes.
In addition to Bovino, there’s the Casa Velha restaurant (fine dining) and the recently opened Umami (an Asian grill and cocktail restaurant that offers great views and live music). Casa do Lago and The Shack are other good options, with equally great views.
Although there could certainly be an argument that Quinta do Lago is not the real authentic Portugal, it is now in its fiftieth year and has fully established itself as arguably the jewel in the crown of the Algarve. when it comes to luxury living.
It is also close to Loule, Faro, Olhao and Tavira, all of which offer Portuguese charm and grit in abundance.
One Green Way is likely to further enhance QDL’s reputation with international investors, especially if the team’s clear and passionate vision is fully realized.
Brief history of Quinta do Lago
As mentioned above, QDL celebrates its fiftieth anniversary this year – but where did it all start?
The resort’s founder was André Jordan, who is generally considered the father of luxury tourism in Portugal, and who in the early 1970s had a vision to create a destination inspired by nature. With this in mind, he came up with a master plan on which only 9% of the total area was built on, with the rest maintained as natural areas and green spaces – and that master plan and vision remains in place to this day. .
Born in Poland, the entrepreneur found himself in Portugal fifty years ago looking for a new project to invest in. hill and gazed at the sight of pine trees, sloping grassy hills and winding paths leading to the Ria Formosa and overlooking a dune in the ocean”.
This gave him his vision, and in 1972 Jordan’s master plan began to take the form of a golf course – now the North Course. A private club in the restored farmhouse was created which later became the gourmet restaurant Casa Velha.
Sean Moriarty, the current CEO of Quinta do Lago, said: “The story of Quinta do Lago is one that lives on in every corner of the resort today; a lifestyle legacy firmly rooted in health, family and connection to nature. As an award-winning and world-renowned destination for the luxury lifestyle, we pride ourselves on being a place of constant inspiration, where quality of life is measured by proximity to nature, an active lifestyle in outdoors and precious family moments, and with a commitment to nature, our sustainable approach protects our environment and secures the future for generations to come.”