A group of Portuguese developers led by Eduardo Netto de Almeida and Starwood Hotels & Resorts Worldwide is investing €225 million in a Torres Vedras (north-west of Lisbon) real-estate and tourism development. The project includes two 5-star hotels at Turcifal. Campo Real as it is known, recently opened an 18 hole golf course. Eduardo Netto de Almeida said : "We are in the final stages of approval for the acquisition of 75 ha of land adjoining Campo Real where we will build a villa development, a second Westin (Starwood Hotels) unit and a further nine-hole golf course. The extension will cost €100 million. To date the group has invested €15 million. The first stage is due for conclusion in 2007. Campo Real is an integrated resort. Its first stage covers more than 80ha and includes an hotel, spa, golf course, horse-riding and a congress centre. Of the 372 planned villas and apartments 211 have already been sold – 43% to overseas investors British and Irish customers and 57% domestically.

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