Cristiano Ronaldo plans to add a new real estate project to his growing business portfolio to be named after him in his native Madeira.
Despite rumors that his relationship with his agent Jorge Mendes is “eroding,” the 37-year-old is forging ahead with a £43 million apartments project in cooperation with hotel business Pestana despite being out of work as a result of leaving Manchester United.
The residential apartments will be built on land owned by Cristiano Ronaldo in Praia Formosa, next to the seven-story structure that is a part of his real estate company and is home to his mother Dolores Aveiro and older brother Hugo.
The 88-apartment complex will be known as Pestana Residences CR7. Around May of next year is when construction work is anticipated to begin.
In Madeira and the rest of Portugal, further apartment buildings are anticipated to be built if the Praia Formosa project is successful.
In a statement to Jornal de Negocios, Mr. Pestana said he had not ruled out expanding outside of Portugal but added: “At the moment we’re focused on mainland Portugal and Madeira although we’ve also developed a project in the Azores.”
“At the moment we’re going to begin with this one in Praia Formosa, see what the result is and gauge the impact.”
Since their collaboration began six years ago, Cristiano and Pestana only focused on the hotel industry.
He first introduced a line of lifestyle goods under the CR7 brand before making investments in the hotel industry.
Additionally, he owns a number of hair salons, including two in Porto and one in Valencia, a city on the east coast of Spain.
Paulo Ramos, Ronaldo’s business partner and the CEO of Insparya, announced grand intentions for “world dominance” when the company first opened its doors in Valencia in March.
Then, Mr. Ramos stated: “The Valencia opening is an important landmark for our leadership in Spain and a further step towards our commitment to international expansion and world leadership in the medical hair industry.”
“This clinic is entirely designed and built from scratch by Insparya architects and we are very proud of how the result will be.”
A few weeks after Cristiano’s sister Elma Aveiro announced the closing of the Madeira clothing company bearing Ronaldo’s name, a clinic associated with the footballer was established.
After operating the fashion store in the island’s capital, Funchal, where Aveiro based for 15 years, the mother of one acknowledged that it was a difficult decision to make.
Despite the fact that this is not the first store the footballer’s family had closed in recent years, Elma, one of Cristiano’s three siblings, made a hint that her busy schedule may have played a role in the decision.
A restaurant in Madeira was shut down last year, while the Vilamoura CR7 clothing store on the Algarve shuttered its doors in 2020 due to weaker-than-anticipated sales, leaving the Madeira location as the sole remaining CR7 location.
Another store owned by Cristiano Ronaldo in Lisbon’s Park of the Nations neighborhood has also been vacant for a while.
Gyms are among the soccer star’s non-sporting business pursuits.
While his business endeavors off the field continue to be lucrative, his football career’s future remains questionable.
The father of five has been linked to a lucrative £173 million a year move to Al Nassar in Saudi Arabia, but he is currently unemployed as a result of an explosive interview with Piers Morgan that caused the Premier League team and its five-time Ballon d’Or winner to part ways mid-season.
Cristiano mentioned in the interview that he didn’t respect manager Erik ten Hag and felt betrayed by his former team.
Cristiano Ronaldo plans to furnish a £28 million retirement home with giant swimming pool and walkway
According to SunSport, Cristiano Ronaldo will turn his new Portuguese mega-mansion into a gigantic glass swimming pool with an underwater bridge.
Former Manchester United star Ronaldo and fiancée Georgina Rodriguez will be able to view the lake by using the underground tunnel thanks to the Bond-villain feature.
The new pool will go some way toward easing Ronaldo’s disappointment following Portugal’s poor performance, which resulted in them being eliminated from the World Cup by Morocco in the quarter-finals.
The indoor pool is just one of several brand-new amenities that Ronaldo has planned for his opulent retirement residence in Quinta da Marinha, close to the Portuguese Riviera seaside town of Cascais.
The 37-year-old celebrity also insisted on a gigantic 1,000 square foot master bedroom, which is triple the usual size for a regular property in the neighborhood.
As it was reported that the project’s cost had risen to approximately £28 million, more information about the home Ronaldo is anticipated to make his primary abode after retirement.
The addition of Ronaldo’s Portuguese mansion, which is 30 minutes from the Lisbon Airport, will increase the size of his already sizable real estate holdings in his native country, which already include two apartments in Lisbon and a seven-story apartment building with a view of the Atlantic Ocean in Funchal, the capital of Madeira.
