C
ascais Bay, a glittering and glamorous destination, has long been a haven for intrigue, romance, and espionage. The elegant Portuguese Riviera town of Cascais and its neighbor Estoril are steeped in stories of exiled royals, double agents, and spies.
In the 1940s, during World War II, Cascais became a hotbed of espionage due to Portugal's neutrality. It was here that Ian Fleming, working for British Intelligence at the Palacio Estoril, created James Bond. The iconic spy emerged from the waves on Estoril's golden shore in the 1969 film On Her Majesty's Secret Service.
Tucked between Cascais and Estoril, Monte Estoril was developed as a 19th-century resort for the wealthy. Today, it's a sought-after destination for those seeking luxury and wellness. Cristiano Ronaldo is building one of Portugal's most expensive houses in Quinta da Marinha, with a primary suite that could comfortably house a family mansion.
The area has long been a safe haven, attracting global wealth in uncertain times. The new focus for development is Monte Estoril on Cascais Bay, where the old Hotel Eden once stood. Rising from the rubble is MyEden, a 12-story luxury development designed by Pedro Reis and featuring interiors by Philippe Starck.
MyEden boasts a five-star hotel with spa, pools, fitness facilities, restaurant, and concierge, as well as 32 apartments, including a penthouse that's been dubbed "the crown jewel of Portugal." The building's design features a lush drapery of greenery, creating a seamless link between the Jardim dos Passarinhos and the sea.
Prices at MyEden have set a new benchmark for Cascais, with average prices per square meter reaching €25,000. Next to MyEden stands the InterContinental Cascais-Estoril, which has proven to be the most exclusive and expensive real estate in Portugal.
BTG Pactual, a Brazilian investment bank, and local partner Sostate are behind MyEden, their first Portuguese real estate venture. They're also working on Hotel Oitavos in Quinta da Marinha, where serviced apartments will be operated by the Brazilian brand Fasano.
Cascais has long been a haven for the super-rich, with residences at MyEden selling off-plan before a sales brochure was produced. "Cascais has the biggest concentration of wealth in Portugal," says Francisco Garcia, partner at Portugal Forbes Global Properties. The area remains understated, devoid of bling, but offers unparalleled pleasures, including sunsets over Cascais Bay and the waves.
