Thursday October 22, 2020

€600m golf resort now a beautiful ghost estate'

High-profile golfers are among investors set to lose heavily on Portugal’s Amendoeira resort, write Róisín Burke and Fearghal O’Connor.

15th June, 2014
Amendoeira golf course in Portugal: Portuguese courts are working through its debt issues . Picture: PA

Investors in a luxury €600 million Portuguese resort venture – that was launched in a flurry of sports celebrity endorsement during the boom – are being pushed to accept a deal that would see them get just 10 per cent of their money back. Amendoeira was one of several resorts developed by Oceanico in Portugal and was launched in 2005, boasting courses designed by golf legends Nick Faldo and Christy O’Connor Jr.

According to a...

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