In 2006, Prime Minister, José Sócrates, learned of an investment project through Hélder Bataglia, for the purchase of the luxury Vale do Lobo development in the Algarve.

The project relied on bank financing because potential investors wanted to use as little equity as possible and the price was high – around €230 million. Also, the value of the project could change if pending alterations were made to land zoning to limit the possibility of building in areas where building already had started.

———–

© algarvedailynews.com

The above content produced by algarvedailynews.com is not intended for commercial use and may not be republished by third parties either wholly or in part unless permission is sought and granted and the source credited.

——————-