Further investment in the Algarve has been announced by the CRESC 2020 Regional Operational Programme of the Algarve, with the investment being used to help improve infrastructure, energy efficiency and employment.
The CRESC 2020 programme has been designed to help boost the region by approving specific projects to benefit both residents and visitors to the Algarve over the coming years.
Projects have been presented by institutions and companies in the region and in the last session of CRESC 2020, a total of 2.6 million euros worth of investment was approved across several sectors.
The most significant investments that have been appoved were within the scope of the Resources Development Plan (PADRE), with an investment of 1.1 million euros for the construction of the Aldeia de Cachopo house in Tavira; in energy efficiency in public infrastructures, with an investment of 714,000 euros referring to projects in Loulé, Silves and São Brás de Alportel; and another part of the Urban Regeneration Action Plans (PARU), worth 825,000 euros, for two projects to be developed in Lagoa and São Brás de Alportel, with these projects also benefiting from incentives from the European Regional Development Fund (ERDF) to the sum of 1.2 million euros.
During the meeting, the president of the Regional Coordination and Regional Development Commission (CCDR) of the Algarve, Francisco Serra, stressed that Prime Minister António Costa and the European Commissioner for Regional Policy, Corina Cretu, will announce in Lisbon the approval of the reprogramming of Portugal 2020.
Francisco Serra also took the opportunity to present a performance situation of the CRESC Algarve 2020 Operational Programme, stating that, at the end of November, the execution rate was 17%, in line with the other Regional Operational Programmes already in place.
Public and private investment continues in the Algarve with many of the projects benefiting both those who live here and those who visit by improving the infrastructure, facilities and amenities of the region and helping in turn to raise the value of properties and businesses located across the Algarve.
For further information about investing in the Algarve, please contact us by phone, +351 282 356 952, by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or pop into one of our offices (Carvoeiro or Luz).
