Overseas property news - Hollywood comes to the algarve

Hollywood comes to the algarve

A new production studio in Portimão, Portugal could mean a big rise in property prices...

Portimão Cãmara is currently negotiating a deal which may lead to the construction of the largest film studio in Portugal, costing an estimated €10m deal.

According to English-language newspaper, The Resident, the most probably location is a four hectare site belonging to the câmara, close to the Exhibition and Fairs Park and the Arade Pavilion. It could also include other multimedia attractions to support the studio activity.

The idea was first presented two weeks ago, at a meeting with the Algarve Film Commission, led by the internationally acclaimed actor António de Almeida, who lives in Hollywood.

Contact with investors, who are both Portuguese and foreign, are now underway, and more detailed information about the project is expected next month. José Manuel Lopes, of the Algarve Film Commission, said the investment was a 'priority' to trigger the cinema industry in the region.

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