"É nossa missão criar um ecossistema exemplar onde a economia e a ecologia se unem de forma a preservar o território e a população"
Jornal Economico article

Comporta Utopia “against the abusive construction in Comporta”

The Comporta.Utopia association was founded by Louis Albert de Broglie (who is one of the stakeholders in the purchase of Comporta assets) and was chaired by Pedro Bingre do Amaral “which will constitute a relevant stakeholder in the sale process and, sequence, in the development process of what will be built in Comporta”, says the association in a statement.

Text by Maria Teixeira Alves

Jornal Economico articleA press release confirmed yesterday the news released by Expresso about the foundation of the Comporta Utopia – Association for the Comporta Sustainability, inspired by Louis Albert de Broglie (who is interested in the sale of the assets of the Comporta Estate Fund) and presided over by Pedro Bingre do Amaral. This association says that “it will become a relevant stakeholder in the sales process and, in sequence, in the development process of what will be built in Comporta”, says the statement.

The association Comporta Utopia “is already promoting the collection of signatures for a Public Petition to obtain the attention of Parliament and the President of the Republic, in order to sustain an intervention of the sovereign organisms in the process, since it’s stated the most serious national interests in a long-term perspective”, says the organization that intends to intervene in the decision to sell the assets of the Herdade da Comporta Fund.

This association has “the mission of ensuring respect for ecological values ​​and for the highest national long-term interest in that territory and ecosystems”, the association said in a statement.

“The association already has a website available at where all the relevant information about the sales process and about the proposal / project of Louis Albert de Broglie for Comporta will be made available”, the statement said.

“The purpose is to mobilize all stakeholders for an in-depth knowledge of what is unique and especially valuable in Comporta’s ecosystem and what it will mean for the territory, local communities and the country to sell Comporta to each identified competitor, taking into account that a high density of construction is authorized (650,000 square meters) and that, it seems, some of the competitors are betting to exploit the totality of the allowed density “, launches the new association inspired by one of the competitors.

“The association Comporta.Utopia understands that if the sale of Comporta is carried out without the requisites and safeguards adequate to maintain the conditions of balance and authenticity of the territory’s ecosystem, it is foreseeable the destruction of the extensive and valuable ecological heritage of the region, a member of three natural reserves, creating an irreversible situation of degradation and loss of national value only in order to serve the interests of international real estate speculation”, reads the statement.

The new process for the sale of the assets of the Comporta Herdade Fundo is underway and there are at least two confirmed potential buyers: Amorim Luxury / Vanguard Properties / Port Noir and Louis-Albert de Broglie consortium leading a consortium that has the participation of Global Asset Capital and the Bonmont Group.

Springwater Capital has already shown interest in analyzing the assets

Binding proposals must be delivered to Deloitte in a sealed envelope and in the presence of a notary on September 20.

It should be recalled that what is for sale in Herdade da Comporta are the assets of the Special Fund for Real Estate Investment Closed (FEIIF), created in 2013, which were held by the Espírito Santo Group (GES). The Fund, managed by Gesfimo – Espírito Santo Irmãos, the Real Estate Investment Fund Management Company, is mostly owned by Rioforte (59%), a former GES company, with Novo Banco holding approximately 15%.

The Fund was created about five years ago, with the goal of starting up with two tourism projects – Comporta Links and Comporta Dunes. These are the real estate assets that are for sale.

Comporta Links includes an area of ​​365 hectares in the municipality of Alcácer do Sal, where two hotels, two aparthotels, lots for villas, several tourist village units and an 18-hole golf course will be built.

On the other hand, the Comporta Dunes, in Grândola, aimed to include, in an area of ​​551 hectares of pine forest and near the beach: four hotels (one under construction – Hotel Aman, which stopped with the bankruptcy of GES), several lots for villas, tourist units and a 100-hectare (18-hole) golf course designed by David McLay Kidd, one of the most respected architects in the world (already under construction).”

Finally, the “package” also includes some “non-buildable land lots, rural and forest”, inserted in Comporta Dunes, in an area of 460 hectares, together with a 50% participation in the company’s share capital and voting rights DCR & HDC Developments – Real Estate Activities, a company owned by the Comporta fund that develops real estate activity.

Article published in the Jornal Económico on August 31, 2018