Portuguese firm to build in Ceara

Brazilian property could be set to benefit from the news that one Portuguese firm is investing in the resort of Ceara, it has been reported.

Vila Gale is set to launch the construction of a five-star resort costing the firm $43 million (£20 million), according to the Brazil Arab News Agency.

The company announced in a statement it intends to open up one hotel a year and is planning similar jaunts in other Brazilian states and wants to focus on Rio de Janeiro and Sao Paulo.

Its Cumbuco Golf Resort will have 462 rooms and chalets, a golf course, restaurants, bars, spas, convention and condos with 900 apartments.

"Vila Gale group inaugurated operations in Brazil in 2001, with the inauguration of Hotel Vila Gale Fortaleza. In 2004, they launched Vila Gale Salvador and, in 2006, Vila Gale Mares Resort, in Guarajuba, Bahia," the report continued.

Meanwhile, it was reported by the Brazil Arab News Agency that state oil firm Petrobras has launched a new platform which could bring thousands of jobs to the country.

Tags: Brazil, Economic News, Real Estate

October 13, 2008

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