Portugal

INVESTMENT OPPORTUNITIES Tourism

Tourism in Portugal

More diversity per m2

Portugal is a unique destination: no other country in Europe can offer so much diversity within such short distances. A destination with sunshine and the Atlantic Ocean, the history of all the continents concentrated in just one place, a People who speak everyones language because they speak the universal language of emotion. Our visitors always want to return.

Tourism in Portugal
Portugal: a leading tourism destination
26 million room nights of foreign visitors in 2011 in Portugal: a 10% increase compared to 2010. Hotel occupancy rates on average of about 52% em 2011. Positive tourism balance in 2011: 5.1 Million (an increase of 11.3% compared to 2010). Main countries of origin in 2011: Spain (18.7%), United Kingdom (16.7%), Germany (10%), France (8.9%) and Brazil (6.2%).

According to the Travel & Tourism Competitiveness Index 2011 of the World Economic Forum, Portugal occupies the 18 position out of 139 countries. Sub-rankings in which Portugal has best scored: Touristic Infrastructure: # 14; Cultural resources: # 11; Environmental Sustainability: # 17; Quality of roadway: # 8; Sports Stadiums: # 14; International Fairs: # 15.

Source: Turismo de Portugal, 2011

Tourism in Portugal
Portugal: a TOP Golf destiny in Europe

Golf Courses with high environmental sustainability: 79 golf courses, 47% in Algarve region; Over 1,5 million rounds are played all year round; Courses designed by the worlds most conceited architects.

International Association of Golf Tour Operators (IAGTO) awards for Portugal: Golf Resort of the Year Europe (Hotel Dona Filipa & San Lorenzo Golf Resort in 2009; Praia DEl Rey Golf & Beach Resort in 2006); Golf Destination of the Year Europe (Lisbon in 2007 and 2003; Algarve in 2006).

(eg. Robert Trent Jones Jr., Arnold Palmer, Jack Nicklaus, Arthur Hills, Nick Faldo ou S. Ballesteros)

Sources: Deloitte/ CNIG, Annual Golf Report 2008, April 2009

Tourism in Portugal
Weather
Average Temperature at 12:00 Average hours of sun per day Average number of dry days per month

Tourism consumption in the Portuguese territory in 2010 achieved 9.2% of the national GDP; Tourism consumption has represented 16.000 million in the same year; Tourism contribution for the Gross Value Added of the Portuguese economy in 2010, achieved 6.300 million.

Summer
25 C

Winter
16 C

12 h

7h

28 days

15 days

Source: Turismo de Portugal

Tourism in Portugal
Satisfied customers

According to the recent Survey of Tourists Satisfaction, issued by the Tourism of Portugal Institute, dated of April 2012, the tourists felt globally satisfied their holidays in Portugal.
Are globally satisfied with Portuguese natural and cultural offer

Tourists from Brazil are among the most enthusiastic in the results of the inquiries, as their satisfaction levels are higher than the average.

Are satisfied with Portuguese natural and cultural offer

Soure: Estudo de Satisfao de Turistas, Turismo de Portugal, GFK

Overview PINs

The acknowledgment of Potential National Interest (PIN) to an investment project means the recognition of its positive impact and merit to the Portuguese economy. These projects represent a global amount of more than 25 million and were evaluated and are monitored by the Portuguese Government, in what concern their viability and compliance of territorial and environmental regulations. The goal is to remove bureaucratic obstacles to investment and promote activities that diversify the existent economic base, by positive discrimination in terms of procedure promptness.

Specific projects: some examples

Royal bidos

Royal bidos
Investor Royal bidos Promoo e Gesto Imobiliria e Turstica, S.A. / MSF TUR.IM SGPS, S.A. Royal bidos

Brand

Project description
Luxury resort in the Municipality of Obidos, Portuguese Silver Coast, designed especially for golf, and including: a 5-star hotel on the golf course with 18 holes, two village resorts and a range of equipment and complementary infrastructures.

Royal bidos
Project Overview
Global Investment Amount 194M Euros

Financial Information
Break-even IRR Year 2019 10,80% 10.231.228 13 Years 13,15 %

Location

bidos

NPV Payback Period

Scope

Luxury SPA & Golf resort

ROI

PIN Project

Yes

Investment start Investment end Operation start Commercial launch

Year 2006 Year 2020 Year 2012 Year 2011

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Herdade da Comporta
Located on the Alentejo coast, about one hour south of Lisbon and a few hours away from the most important capitals of Central Europe. Herdade da Comporta is the largest private owned estate in Portugal: 12.500 hectares of natural environment and 12 km of unspoiled coast line. 2 Tourism Development Areas: Comporta Links (TDA 2): 365 hectares

4 Hotels + 432 Tourism Units + 245 Residential Units + 1 Golf Course (140 ha) designed by Tom Fazio

Comporta Dunes (TDA 3): 377 hectares

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AMAN HOTEL & Villas + 4 Hotels + 552 Tourism Units + 266 Residential Units + 1 Golf Course (100 ha) designed by David McLay Kidd

Herdade da Comporta
Investor Brand Herdade da Comporta (ESPIRITO SANTO GROUP) Comporta: Comporta Dunes & Comporta Links
Project description

A G R I C U L T U R E

T O U R I S M

Two high quality / low density tourism developments, perfectly integrated with the natural preserved environment, for tourism and residential purposes, close to the Atlantic Ocean, with more than 12 Km long beach front line, one hour away from Lisbon and less than two hours away from the Algarve.

N A T U R E

The first AMAN hotel in western Europe, with 40 rooms and 36 serviced Villas. Two international class Golf Courses: Comporta Links, designed by Tom Fazio (has been appointed the Venue Candidate of Portugal to the Ryder Cup Match 2018), and Comporta Dunes, designed by David McLay Kidd. General Infrastructures under construction. Hotel AMAN and Comporta Dunes Golf Course opening schedule in 2014.

Herdade da Comporta
Project Overview Global Investment Amount 600 M Euros Financial Information * Break-even IRR Location Comporta NPV Payback Period Scope Luxury Tourism Development, Golf ROI 61 % Year 2020

Investment start PIN Project Yes Investment end Operation start Commercial launch

Year 2010 Year 2025 Year 2014 Year 2013

14

Bom Sucesso

15

Bom Sucesso
Investor Acordo bidos - Empreendimentos Tursticos, S.A.

Brand

BOM SUCESSO - DESIGN RESORT, LEISURE & GOLF

Project description
Tourism development project of international reach, in the western coast region of Portugal. The project involves, in its initial stage, the BOM SUCESSO Lagoa Golf Tourism Village, comprising 601 housing units, with 325 individual plots for detached villas and 276 townhouses, a 120-room 5-star Hotel & SPA by Hilton International and diverse and comprehensive leisure facilities and services, including an 18-hole championship golf course ( + 9 holes - future phase),Tennis Club and Paddle Courts, Professional Football Ground, Sports Fishing Lake, Rowing Club, Fitness Trail, Swimming Pool, Kids Park, Pet Hotel, Heliport, Dedicated Beach, Shops, Restaurant and Bar and Design Museum.

Bom Sucesso
Project Overview
Global Investment Amount 398M Euros

Financial Information
Break-even IRR Year 2015* 25,00%** 70.000.000 7 Years 15,00 %

Location

bidos

NPV Payback Period

Scope

Design Resort, Leisure & Golf

ROI

PIN Project

Yes

Investment start Investment end Operation start Commercial launch

Year 2005 Year 2017 Year 2009*** Year 2005

17

Tria Resort

18

Tria Resort
Investor Sonae Turismo

Brand

Troiaresort / Aqualuz Suite Hotel Apartamentos

Project description
Troiaresort is already fully operational, with phase 1 and 2 of the project completed. This project includes a new marina with 184 berths, Tourist Apartments, townhouses, plots for villas, shopping area, three 4* Aparthotels with the brand Aqualuz which are run by Sonae Turismo, one 5* hotel and congress center for over 1.000 persons that staged numerous events over the last year, and a renovated 18th hole golf course, ranked by the magazine "Golf World" as the 20th best golf course in Europe, designed by Robert Trent Jones Senior, these features confirm the potential of the region and its development. Also, Troiaresort was the first resort in Portugal to implement an environmental management system (EMS) according to the international standard ISO 14001 covering the planning, construction and operation of the resort.

Tria Resort
Project Overview
Global Investment Amount 300M Euros

Financial Information *
Break-even IRR n.a. n.a. n.a. n.a. n.a.
* SONAE - listed in the NYSE Euronext Lisbon

Location

Tria

NPV Payback Period

Scope

Luxury Resort

ROI

PIN Project

Yes

Investment start Investment end Operation start Commercial launch

Year 2005 n.a. Year 2008 Year 2007

20

Falsia DEl Rey

21

Falsia DEl Rey

Investor Beltico, S.G.P.S.

Brand

Falsia DEl Rey

Project description
Falsia dEl rey is a spectacular 230-hectare front-line ocean site bordering Praia dEl rey, only 50 minutes north of Lisbons international airport and overlooking the beaches of the nearby bidos lagoon and is declared a Project of national Interest by the Portuguese authorities. Main components - five star luxury resort, with an 18 hole links golf course (designed by the world renowned american golf course architect Pete Dye) and golf clubhouse and a five star contemporary hotel overlooking the sea, plus a boutique hotel with spa, swimming pools, tennis courts, shops, exercise circuits and 475 luxury properties will be created ange from apartments (192) and townhouses (205) to luxury detached villas (78). Using the latest eco-construction.

Falsia DEl Rey

Project Overview
Global Investment Amount 288M Euros

Financial Information *
Break-even IRR Year 2016 25,30 % 44.610.542,00 5 Years 38,00% *
* SONAE - listed in the NYSE Euronext Lisbon

Location

bidos

NPV Payback Period

Scope

Luxury Resort, Real Estate, Golf

ROI

Investment start PIN Project Yes Investment end Operation start Commercial launch

Year 2012 Year 2017 Year 2013 Year 2012

23

vora Resort

24

vora Resort
Investor Frontino - Turismo S.A.

Brand*

vora Resort

Project description
Residential Tourism in rural environment. Low density of construction (3% of the area), beautiful Alentejo landscape, privileged location (6km from vora - Human Heritage City UNESCO, 120 km from Lisbon, 450 km from Madrid. Great accessibility (TGV Lisbon-Madrid Station at 500 m from site ready in 2014, Exit of Motorway Lisbon - Madrid at 200m). Main components - 5 touristic Villas Complex, each of them with one different anchor activity (golf, gastronomy and wine, horsesriding and nature). 2 hotels, one full-service and a charm hotel near the winery.

vora Resort
Project Overview
Global Investment Amount 250M Euros

Financial Information
Break-even IRR Year 2015 12,00% 40.000.000 9 Years 19,00% *

Location

vora

NPV Payback Period

Scope

Residential tourism

ROI

PIN Project

Yes

Investment start Investment end Operation start Commercial launch

Year 2011 Year 2024 Year 2014 Year 2012

26

Golf da Lontra

27

Golf da Lontra
Investor GOLFINVEST, S.A.

Brand

Covas Green Resort, Golf & SPA

Project description
Main components: 18 holes golf courses + 9 holes courses. A total of 3 alternative circuits for competition | 5 Star Hotel with Spa | Aparthotel | 3 Touristic Villas with habitations | Clubhouse with 4 star Hotel | Biologic farm | Tennis Court and Swimming-pool | Equestrian Centre | Mini-golf | Open air amphitheatre. 1h from Porto (PT) and Vigo (ES).

Golf da Lontra
Project Overview
Global Investment Amount 94M Euros

Financial Information*
Break-even IRR Year 2018 15% 21.000.000 5 Years 24,00 % *

Location

Covas (Minho Region)

NPV Payback Period

Scope

Green Resort, Golf & SPA

ROI

PIN Project

No

Investment start Investment end Operation start Commercial launch

Year 2013 Year 2015 Year 2015 Year 2014

29

Pinheirinho, a Hyatt Golf and Beach Resort

Pinheirinho, a Hyatt Golf and Beach Resort is an exclusive 5 star luxury resort on Portugals Alentejo Coast, managed by Hyatt Hotels & Resorts a world premier hotel company with more than 350 hotels all over the world. Pinheirinho benefits from a privileged location considering not only the city of Lisbon (1 hour), but is also about 20 minutes of the beaches of Comporta and Tria and less than two hours away from Evora, Beja, Algarve and the Spanish border

30

Pinheirinho, a Hyatt Golf and Beach Resort

Pelicano SGPS, SA Hyatt Hotels & Resort

Total Resort Area: 2.000.000sqm Total GBA: 195.814sqm N Beds: 2.911 Number of Units: 1.104 (aprox.) Luxury Villas, Resort Apartments, Resort Park Hyatt Alm-Tejo with 160 rooms 27 holes championship golf course with Club House 7 Restaurants & Bars Convention Centre Sports Centre Beach Club

Pinheirinho, a Hyatt Golf and Beach Resort

Project Overview
Global Investment Amount 450.000.000 Euros

Financial Information
Break-even IRR n/a n/a n/a n/a n/a

Location

Grndola, Portugal

NPV Payback Period

Scope

Hospitality & Real Estate

ROI

PIN Project

081

Investment start Investment end Operation start Commercial launch

2009 2020 2014 2012

32

One Planet Living Greenwoods Eco Resort - Mata de Sesimbra

The OPL Greenwoods Eco-Resort is a 5* luxury resort located in Sesimbra, just 30 mins away from Lisbon. This unique development brings together sustainable housing, nature conservation, reforestation and ecofriendly transport. The resort is in partnership with WWF International and BioRegional and aims to apply the One Planet Living principles.

33

Design by

One Planet Living Greenwoods Eco Resort - Mata de Sesimbra

Greenwoods, Lda.

OPL/ WWF / Foster & Partners

Location: Sesimbra (between Lisbon and Setbal) Total Plan Area: 5.200 hectares Total Resort Area: 700 hextares Reforestation Area: 3.000 hectares Hotels: 3 Units (5*) Tourism Resorts (Villas and Apartments) Units distributed in 10 Resorts (5*) Golf Courses: 3 Leisure Centre, Sports Centre, Religious Centre and Medical Centre

One Planet Living Greenwoods Eco Resort - Mata de Sesimbra

Project Overview
Global Investment Amount 1,138,000,000

Financial Information
Break-even IRR n/a n/a n/a n/a n/a

Location

Sesimbra, Portugal

NPV Payback Period

Scope

Hospitality & Real Estate

ROI

PIN Project

041

Investment start Investment end Operation start Commercial launch

2013 2023 2016 2013

35

CostaTerra

Resort Community
CostaTerras vision is of a diverse resort community with both holiday accommodation and residential development, along with comprehensive and exciting supporting amenities and services. Its an area of breathtaking natural beauty within a culturally and historically vibrant environment.

Located in the Alentejo Coast, only one hour drive South of Lisbon and from its International Airport, The resort centres around the hotel and resort village, located at the developments heart. Residential villas, apartments and townhouses comprise the majority of land area, with amenities located throughout. These include the golf course and clubhouse, the equestrian centre, spa, country club, and northern boutique hotel, which ensure a rich range of land uses and activities. 36

CostaTerra
Investor: Mr. Pedro Queiroz Pereira
is one of the leading industrial entrepreneurs in Portugal, with main interests in: Pulp and Paper (Portucel), Cement (Secil), Urban Hotels & Real Estate (Hotel Ritz Four Seasons, Lisbon and Hotel Villa Magna, Madrid), Resorts (CostaTerra)

Total Development Area: 330ha Total Construction GBA: 320.000 sqm

The Brand: Four Seasons Hotels & Resorts

under negotiation for Hotel (100 rooms + 30 tents) & Residences (30 villas; 70 apartaments)

The Project: CostaTerra, Leisure Resort

Exclusive beachfront hotel
Approximately 100 hotel keys, plus 30 tents

Equestrian centre
Complete 4,000sqm facility

Branded residential
Approx 30villas and 70 apartments

Medical Spa Hotel Country Club

Approximately 100 hotel keys

Traditional Inn
20 Keys

Championship Golf Course

Ryder Cup class

Villagios
255 Units

Eco-Lodge
20 rooms

Villas
300 Units

Biological Farm
38ha of Strawberrys, Blueberrys, Melon, Zucchini. Possible extension to 85ha

Resort Golf Course

18-hole, par 72 with 1,500sqm golf club

Resort village
Mixed-use commercial, retail and residential

Biological Honey Production

Production of 120k/Y

CostaTerra
Project Overview
GLOBAL INVESTMENT AMOUNT:
LAND 107M CONSTRUCTION 211M

Financial Information
318M
BREAK-EVEN:

24% 62M (@11%) 10Y -

IRR: LOCATION CostaTerras location on Alentejos 40km coast is NPV: PAYBACK PERIOD: ROI:

advantageous both in terms of access and setting. It is only one hours drive south of Lisbon and from its International Airport. It is close to the existing villages of Fontainhas, Melides and Pinheiro da Cruz, and beaches Praia da Aberta Nova, Praia da Gal and Praia da Raposa. These all fall within the attractive rural Municipality of Grndola which has a population of around 15,000.

INVESTMENT START: INVESTMENT END: OPERATION START:

2011 2014

SCOPE Resort community focused on 3 kms beach front, golf courses, equestrean centre, hotels, luxury villas, Apartments, biological farm, etc. PIN PROJECT: 38

COMMERCIL LAUNCH: 2013

027

Herdade Defesa de So Brs

Presentation of Opportunity The Sociedade Agrcola Defesa de So Brs (Defesa de So Brs Agricultural Company) is the promoter of the Herdade Defesa de So Brs resort, in Moura, 50 km from vora and 60 km from Beja Airport. The overall project, with Detailed Plan already approved, is considered to be a PIN project a Project of National Interest. The project comprises a broad series of areas, namely: 4 and 5 star hotels, spa, residential tourism sector, two 18-hole golf courses, tennis school, riding centre, a large nature reserve, areas for events and meetings, several shops, as well as other supporting structures, in terms of leisure, sports and entertainment. Its location between the Grande Lago do Alqueva and the Pedrgo Dam, as well as its vast size (over 950 hectares or 2,347 acres) give this project a competitive edge, allowing for a phased and thus sustainable development 39

Herdade Defesa de So Brs

The overall concept of the project is to recreate an environment of Alentejo Farms (known as Montes), combining farming / forestry, local produce, traditions and costumes, with the tourist industry. Tourist Accommodation: Hotel-apartment on the Golf course Spa Hotel Residential Tourism Accommodation: Golf, Mountain and Lake Villas and Apartments Supporting facilities, Sports, Entertainment, Leisure and Culture: Golf Courses | Equestrian Centre Sports Centre | Tennis, Squash and Paddle Club Childrens Club and Youth Club; Hunting Tourism Zone | Agro-Silvo-Pastoral farm Alqueva and Pedrgo Lakes Cultural Centre | Theme Park (Birdwatching) The Herdade Defesa de So Brss development programme:

Herdade Defesa de So Brs

Project Overview
Global Investment Amount 520 Millions

Financial Information
Break-even IRR 17% - 21% 130 M - 150 M

Location

Moura Alqueva Dam

NPV Payback Period

Scope

Tourist Resort

ROI

PIN Project

102

Investment start Investment end Operation start Commercial launch

2013 2027 2015 2014

41

Benamor Golf Resort

Investor: BENAMOR ACTIVIDADES TURISTICAS Brand: BENAMOR GOLF A Hotel and services - 15 000 m2 120 rooms/suites (240 beds), all services related to the hotel Establishments - 8910 m2 Houses and apartments: D 13 units of type T2 (39 beds) 15 units with 3 bedrooms (60 B beds) 12 units of type T4 (60 beds) C Maintenance of existing Golf Course
www.benamorgolf.com

Benamor Golf Resort

Project Overview
Global Investment Amount 43.047.270,00

Financial Information
Break-even IRR 2 years 9,22% 11.586.300,65 20 years 83%

Location

Conceio de Tavira, Algarve, Portugal

NPV Payback Period ROI

Scope

Residential and Touristic Resort

Investment start PIN Project no Investment end Operation start Commercial launch

2013 2017 2017 2016

43

Vale Paraso Tomar

Vale Paraso Property Vale Paraso Property

Vale Paraso is a property with a total area of 531.950m2, under a development plan approved of the tourism area, based on a concept of ECO RESORT. The property sets in Ecologically Reserved Area and is located on the outskirts of Albufeira de Castelo do Bode, a privileged area of idyllic landscapes. The Project Plan Detail for the Paradise Valley - Eco Resort comprises the construction of a tourism village with housing units such us detached villas, townhouses and apartments sets. It also comprises a Detail Plan set of support infrastructures such as a marina, commerce and service units, sport and recreation with playing fields, swimming pools and hiking trails. The property Vale Paraso - Eco Resort it's a urban system integrated with several existing and planned road accessibility, public transport, utilities and healthcare. The project approved is guaranteed by the potential economic viability of tourism market in the region due to the number of beds, different types of housing units and the supply of local goods and services, which this project embraces. This Project is a response to the great need that exists in respect of the supply / demand of this tourism area highly sought by tourists from around the world. Invest or live in Albufeira de Castelo do Bode is to choose a lifestyle powered by beautiful rivers, lakes, forests and mountains, where the contact with tradition and culture inspires serenity, tranquility and happiness. A new concept of well-being and quality of life!

Property Landscape Overview

Castelo do Bode Landscape

Castelo do Bode Landscape

Castelo do Bode Landscape

44

General Presentation, Photos, etc

Vale Paraso Tomar

Property Project Plan Urbanistic Plan
Property area: Deployment area: Gross construction area: Nr. accommodation units: Max. number of beds: Max. number parking spaces: 531.950,00sq.m 21.115,00sq.m 30.060,00sq.m 193un. 636un. 520un.

Impermeable Areas
Housing units: Commerce and services support: Sport and recreation support units: Pavement network: Footpaths to be build: 23.635,00sq.m 1.520,00sq.m 1.650,00sq.m 28.988,00sq.m 2.492,00sq.m

Permeable Areas
Cottage private gardes: Areas for sport and recreation: Nature areas: Footpaths to be build: 52.035,00sq.m 10.149,00sq.m 25.535,00sq.m 2.493,00sq.m

Urbanistic Plan
Detached House: Max. area of deployment: Max. area of construction: Max. number of beds: Townhouse: Max. area of deployment: Max. area of construction: Max. number of beds: Apartments: Max. area of deployment: Max. area of construction: Max. number of beds: Shopping and Service Areas: Max. area of deployment: Max. area of construction: Recreation Areas: Max. area of deployment: Max. impermeable area: 96un. 14.400,00sq.m 19.200,00sq.m 384un. 18un. 1.795,00sq.m 2.340,00sq.m 54un. 79un. 3.500,00sq.m 6.600,00sq.m 198un. 2un. 1.250,00sq.m 1.750,00sq.m 3un. 150,00sq.m 1.650,00sq.m

Apartments Units

Townhouse Units

Detached House

Shopping & Service

Recreation Units

Marina & Service

Vale Paraso Tomar

Project Overview
Property Investment Amount Global Investment Amount Location Geographic Location Scope
10.500.000 40.000.000 Tomar 393541.07N 81458.95O Plot for construction Developement plan aproved

Financial Information
Break-even IRR NPV Payback Period ROI 3 years 4,18 14.192.682 5 / 7 years 0,40

PIN Project Web Link - Videos

no
www.vale-paraiso.com www.vale-paraiso.net

Investment start Investment end Operation start Commercial launch

xxx xxx xxx xxx

46

PESTANA TRIA ECO-RESORT

DISCOVER YOUR NATURE
A unique and exclusive eco-resort
2 km of pristine beaches on a plot of 100 hectares 5 minutes walking distance from the villas and townhouses exclusive access from the Resort Restaurant Bar and beach support facilities

Sport, Leisure and Services Centre with shops and basic services Owners Clubhouse with an outdoor and indoor swimming pool, Fitness Centre and Spa Tennis courts, multipurpose sports field and cycle path Kids club and adventure park

Designed to respect the environment The lowest density construction in the region Intelligent architectural solutions and buildings adapted to the local topography Low impact materials and options which make rational use natural resources

47

PESTANA TRIA ECO-RESORT

Investor: Sociedade Imobiliria Tria B3, S.A. Brands: Pestana Residences | Pestana Hotels & Resorts

PESTANA TRIA ECO-RESORT

First Phase Project (2011/2012)
Townhouses
Plots from 500m2 to 880m2 35 townhouses 2+1 bedroom, with 120m2 plus terrace with 40 m2 First phase due for completion and ready to occupy from the Summer of 2012

Exclusive Residences
41 plots, 15 of which are only 200 metres from the beach Land/plots between 850 and 4.350m2 8 different architectural projects to choose from for villas between 220 and 300m2 Possible delivery in 12 months

Second Phase Project (2013/2014)

Exclusive Residences
41 plots, 15 of which are only 200 metres from the beach (same characteristics of the exclusive residences of the first phase)

Townhouses
Plots from 500m2 to 880m2 44 townhouses 2+1 bedroom, with 120m2 plus terrace with 40 m2

Third Phase Project (2015/2016)

Apart-Hotel 150 apartments

PESTANA TRIA ECO-RESORT

Project Overview
Global Investment Amount 78,7 M

Financial Information
Break-even IRR N.A. 23% 19 M 6 years N.A.

Location

TRIA

NPV Payback Period

Scope

TURISMO RESIDENCIAL

ROI

PIN Project

PROJECTO PIN

Investment start Investment end Operation start Commercial launch

ABRIL 2011 FASE 1 JUNHO 2012 AGOSTO 2012 JUNHO 2011

50

Golden Residence Permit

Advantages Enables citizens of non-European Union Countries to obtain a special residence permit in Portugal for a period of one year, renewable for two consecutive periods of 2 years, upon completion of investment requirements. After the initial 5 year period, the applicant may ask for the renewal of the special residence permit for consecutive periods of 2 years or may apply for Portuguese citizenship in accordance with the law. Portuguese legislation enables the investors immediate family to benefit from the program. Law 29/2012 and Decree 11820-A/2012

Golden Residence Permit

Investment Requirements The investor must demonstrate having fulfilled, directly or through a company, one of the following conditions: Complete a capital transference of a minimum of 1 million Euros; Create 30 jobs; Acquire real estate in a minimum amount of 500 thousand Euros. Conditions must have been previously fulfilled when applying for the Program.

52

Golden Residence Permit

Frequently Asked Questions
Where can I get additional information?
At the Portuguese Embassies or Consulates, or at the following website: www.portugalglobal.pt

How do I start the process?

After you have decided to proceed with one of the eligible investments for the Program, you request a regular visa at the closest Portuguese Embassy or Consulate. Within 90 day of the issuance of this visa, you must apply, in Portugal, for the Golden Residence Permit. The application is presented at the Immigration Offices (SEF),

Is a purchase agreement (Contrato Promessa de Compra e Venda) sufficient to meet the eligibility criteria)?
If the investor is acquiring property in Portugal, only the definitive deed confirming ownership will be accepted to confirm eligibility under the Program.

Does the Golden Residence Permit affect my tax status?

No. Access to the program does not imply a change in your tax residence.

53

Some Portuguese players for further contact:

VILA GAL HOTEIS www.vilagale.pt

Gonalo Rebelo de Almeida

DOM PEDRO HOTELS www.dompedro.com

Pedro Ribeiro

galmeida@vilagale.pt PESTANA HOTELS & RESORTS

www.pestana.com Jos Roquette development@pestana.com

sales.director@dompedro.com AMORIM TURISMO www.amorimturismo.pt

Jorge Armindo

natacha.santos@amorimturismo.pt COLUMBIA HOSPITALITY INTERNATIONAL www.columbiahospitalityinternational.com

Martinho Fortunato

TIVOLI HOTELS & RESORTS www.tivolihotels.com Alexandre Solleiro Alexandre.Solleiro@tivolihotels.com

mfortunato@marlagos.pt

Some Portuguese institutional partners:

TURISMO DE PORTUGAL
www.turismodeportugal.pt Carlos Abade Carlos.abade@turismodeportugal.pt

AHT (Portuguese Hotel Association) www.hoteis-portugal.pt Cristina Siza Vieira direccao@hoteis-portugal.pt

Portugal
INVESTMENT OPPORTUNITIES in tourism
For further information, please contact: maria.manuel.branco@portugalglobal.pt