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Grand Prix in Portimao

20th March 2009: Algarve Property News



Fantastic news for the Algarve economy recently announced with the new grand prix circuit attracting some serious investment.

Administration of the A1 Grand Prix confirmed they have signed a contract for the purchase of two plots in the Technological Park, located in the Algarve Motor Park, this week. The motor sport where each team represents a country will now have its production line factory based in the Algarve, creating 350 direct jobs in the region.

Tony Teixeira, the South African-Portuguese President of A1GP, announced the plans: “I have bought a 47,000 m² plot within the Algarve Motor Park”, confirming speculation that the racing championship factory would move to Portugal, adding that the location will boast “head offices, an A1GP factory with 35 sections, another A2 car factory, restaurants and all of the merchandising products.”

Paulo Pinheiro, CEO of the Algarve MotorPark, added that, besides the factory, all research and development will also take place in Portugal in the future, taking the honours from England and Italy. Construction of the factory should begin in the first half of this year.


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