Six years after the launch of the partnership that unites the largest hotel group in the country with Cristiano Ronaldo – who has a portfolio of five Pestana CR7 hotels – Dionísio Pestana will now launch the brand in real estate, according to Jornal de Negócios.
Representing an investment of €50 million, the first project will be in the player’s home island of Madeira in Praia Formosa, Funchal, with the start of the construction of 88 apartments for the second half of next year. This 50-50 partnership, is set to mark the beginning of Pestana Residences CR7.
Dionísio Pestana also admits to expanding the brand across borders, but this “is not part of the strategic plan” for now. “Right now we are more focused here on mainland Portugal and Madeira. We also did a project in the Azores. Let's start with this project, see the result and also evaluate the impact”, explained Dionísio Pestana to the newspaper.