New Island at Vale do Lobo on Portugals Algarve

A Huge Artificial Island of 100 hectares in the Atlantic Ocean for off plan property development.

The Vale do Lobo Company intends to construct the largest ever Property investment project in Portugal.
The Island will be called “Nautilus” and will be comprised by a golf course, an underwater restaurant and an underwater hotel, casino and 700 to thousand homes connected to Vale do Lobo Resort by a bridge.
Waiting for the Portuguese Government approval, this project is considered one of the most innovative developments in the world.

Source: Atlantic Estates in Portugal.

The Algarve a popular, established holiday and property hotspot, could stand to benefit greatly from this new piece of real estate. Dubai has led the way for property development on reclaimed land and to keep up many other countries have jumped on this bandwagon with the Pearl Qatar and the Amwaj Islands in Bahrain. So is Portugal trying to entice with this scale of development, or was it always on the cards?
If this project does get approved I imagine that properties will be frightfully expensive, based on the mainland competition, but it will be a unique concept in Europe’s property market.
My main concern would be how are the going to stop the Atlantic sea washing the development away…may end up like Bognor Regis with wave breakers everywhere!