Quinta do Lorde sold

Quinta do Lorde should be sold for €60 million

Quinta do LordeThe theme that makes headlines in this Thursday’s Diario explains that the venture located in Caniçal, it seems, will be bought by a foreign investor, putting an end to the uncertainty that the project fell into since the insolvency of the owner company,

The blog reported in 2015 that the Quinta do Lorde development, located in Canical as you head out to Ponta de São Lourenço, having a total of 90 creditors being owed a combined €114 million. Banks led the list of creditors with Novo Banco owed €48 million, and BPI €44 million. Also figuring highly in the list of claimants was the de Sousa family, who had been instrumental in the project from the start.

Quinta do Lorde reported in the blog 3.12.19In early December last year the insolvency administrator of Quinta do Lorde Resort Hotel put the entire Caniçal development up for sale for a minimum of €54 million. Those interested had until January 16 this year to submit a closed tender/proposal. According to the announcement of this procedure, which occupies a page of the newspaper Público, the object for sale consists of the building of the venture, 155 fractions (tourist houses), the right to grant the marina for 75 years, among other goods.

2 thoughts on “Quinta do Lorde sold”

  1. Qta do Lorde has always been a white elephant. Can’t really see anybody making a success of it unless there is a big increase in tourism on the island generally, and a greater demand for rooms on the back of it, which doesn’t appear to be happening at the moment.

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  2. The ghost village QdL was a very bad idea as an investment from the start. I stayed there some years ago, and felt very much isolated. Several buildings In the complex were unfinished. Once you have done the walk out on the east peak, you are so to say finished with it.
    But the main problem is the horrible noice every fith minute from the aircrafts coming in for landing at FNC.

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