New Savoy project repositions

Savoy “Insular” to complete this summer

Savoy insular

At the ‘Pau de Fileira’ ceremony at the Savoy Residence Insular, (the Portuguese equivalent of a “topping out” ceremony) which is located in the former mill of the former Insular de Moinhos, the director of AFA real estate, Vitor Sousa, said that the completion of the project is scheduled for the end of this summer.

The building was initially planned to be a hotel, he explained, but thanks to the “vision and boldness” of Avelino Farinha, “who has a great appreciation for Madeira”, it was transformed into a luxury residential project that “elevates and dignifies” the Region, with a unique offer in this sector.

Carried out in partnership between AFA real estate and Savoy Signature, the objective is to associate residential real estate with the best in the hotel collection, in terms of design, comfort, infrastructure and services available to customers. In this project, it was sought to maintain “the distinctive and traditional elements of existing buildings, with the modernity and quality sought after today, without losing its essence”, as happened with the chimney, which is an ‘ex-libris’ of the city, and now forms an integral part of the new structure.

The Group’s other similar project in Funchal, the Savoy Residence Casa Branca, in São Martinho, is fully occupied.

COVID-19 in Madeira: updates can be found in an earlier post

1 thought on “New Savoy project repositions”

  1. i’ll reserve judgement until I see it, shortly. However there is a fear that bit by bit, Madeira is losing its charm and its core appeal and increasingly becomes the costa of the atlantic! (and I speak as a long-standing Savoy fan!)

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