George Clooney's Open House
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George eying land in Portugal

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LizzyNY
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George eying land in Portugal Empty George eying land in Portugal

Post by party animal - not! Fri 27 Aug 2021, 18:38

https://www.theportugalnews.com/news/2021-08-27/george-clooney-eyeing-up-portugal/61989

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Post by annemarie Sat 28 Aug 2021, 14:16

[size=33]George Clooney eyeing up Portugal[/size]
It is rumoured that Hollywood star George Clooney is looking to buy a plot of land to build a luxury villa at the Costa Terra Golf & Ocean Club, a project in Melides, near Comporta.
By TPN/Lusa, in Business · 1 day ago · 0 Comments
George eying land in Portugal PlaceholderThe Costa Terra Golf & Ocean Club project is expected to be completed in 2022.
According to a report by ECO, George Clooney is planning to buy a plot of land at the Costa Terra Golf & Ocean Club project, owned by Discovery Land Company. The company — led by Mike Meldman, a partner of George Clooney — acquired this project in 2019 from the Queiroz Pereira family.
Costa Terra was initially bought as a tourist project by Swiss businessman Andreas Reinhart who, at the end of 2008, sold it to Portuguese businessman Pedro Queiroz Pereira. The project stalled and in 2019 it was sold again to the Discovery Land Company according to ECO.
Discovery Land was founded by Mike Meldman, current President and CEO, and this is where George Clooney comes in. Mike Meldman and the Hollywood actor have been partners since 2013, the year in which, together with Mexican Rande Gerber, they founded Casamigos, a tequila company, according to Business Insider.
Initially, the plan for Costa Terra was to build three hotels, four tourist villages, 204 houses and a golf course, representing an investment of €510 million, according to Jornal de Negócios.
But the project ended up morphing into the Costa Terra Golf & Ocean Club, aimed at the premium luxury real estate market. In June, speaking to Discovery Life magazine, John Dwyer, CEO of Costa Terra, said that the current project includes the construction of 146 single-family homes, 29 residences belonging to the club, a health and wellness centre and a golf course.
According to ECO, a source in the real estate sector confirmed that George Clooney has committed to purchasing one of the plots at the club.

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Post by LizzyNY Sun 29 Aug 2021, 01:47

So the single family homes are luxury housing? No hotels? No tourist villages? No 204 houses? Just another golf course and luxury spa for the rich and famous? Just what the world needs. George is turning into another Donald Trump!
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Post by annemarie Sun 29 Aug 2021, 11:29

LIzzy no George could never ever be anything like Donald the ass. We all know he likes to invest in real estate it's like stock for him.

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Post by LizzyNY Sun 29 Aug 2021, 15:58

Annemarie - I know he sees real estate as a better investment than the stock market, but why not invest in property that makes a difference for others instead of luxury properties that - if they are meant to be used by himself and his family - will sit empty most of the time? After all, how many places can you be at once?

I likened him to Trump only in that he seems to be building a collection of luxury properties.This "conspicuous consumption" seems to me a bit at odds with his humanitarian image. You can say that it's his money and he can do what he wants with it, or that he needs those kinds of properties to keep his life private and safe, or even that he's investing to support a friend - and all of that would be true. But I still think it's becoming a bit much.
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Post by party animal - not! Mon 30 Aug 2021, 00:23

Well, let's see what he uses it for (if it's true, Lizzy). Is this the swap for Cabo, given the 

  Mike Meldman connection? One of the things he does for good at his properties is employ

  staff who are refugees. Pretty sure that for every property he owns he balances that with 

   good.

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Post by LizzyNY Mon 30 Aug 2021, 01:18

I'm not saying he doesn't do a lot of good. Of course he does. It just seems to me that he's caught up in the celebrity luxury real estate game which is driving up real estate prices and limiting the market for the average person.

Just thinking, now they have homes in LA, Kentucky, NY, Sonning and London (if Amal still has her flat), Italy, France and now (maybe) Portugal and possibly Cabo. Does anyone know if they ever built the new house there? Not for nuthin', but that's a hell of a lot of houses for one family.
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Post by Admin Wed 01 Sep 2021, 18:23

Waaaay too many houses for anyone.   Let's see if this rumour turns out to be true.
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Post by party animal - not! Fri 03 Sep 2021, 16:14

Well, here's the Mailonline's  dressed up version of this rumour

https://www.dailymail.co.uk/tvshowbiz/article-9954515/George-Clooney-wants-build-mega-mansion-area-dubbed-Hamptons-Portugal.html


What nobody seems to have picked up is that this is the Discovery group led by Mike Meldman who with Rande Gerber and George had similar land in Cabo....bet this was all part of that deal 

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Post by LizzyNY Fri 03 Sep 2021, 21:58

They forgot the Studio City property in LA, the house in Kentucky and the place they just bought in France.

PAN - How do you see this connected to Cabo? And do you know if they ever built the new house there that was talked about when they sold the compound they shared with the Gerbers?
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Post by party animal - not! Fri 03 Sep 2021, 22:29

Lizzy, here's Mike Meldman

       https://globalwoman.co/george-clooney-rande-gerber-and-mike-meldman-host-launch-of-casamigos-tequila-spain-at-ushuaia-ibiza-beach-hotel/

The other owner of Casamigos, also owns Discovery Land

 https://discoverylandco.com/about-dlc. This is the extend of the company.

 As for Cabo my guess would be he's swapped that for this - or maybe he already had this   investment. I would imagine lots of advice to do this sort of thing comes from the taxman       (now  in the UK)

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Post by LizzyNY Fri 03 Sep 2021, 22:39

PAN - I get the Meldman connection. What I don't get is the connection between this property and the Cabo property. A lot of time has passed since they were supposed to build outside of Cabo. Apparently this only came about for Meldman 2 years ago. Not saying George wouldn't buy in because they're friends - maybe he's even in on the business end - but other than his connection to Meldman, I don't see a connection to Cabo. scratch
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Post by party animal - not! Fri 03 Sep 2021, 22:54

Well, if you look at the company blurb, it more or less explains the whole empire worldwide. Discovery Land and Meldman appear to own the land in both Cabo and Portugal and many other sites around the world

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Post by LizzyNY Fri 03 Sep 2021, 23:10

Sorry! Mid-dinner prep, so couldn't check it out. So, are they saying that Meldman  (or his company) owns the land they were going to build the new Cabo houses on? Or did they trade that land for the land in Portugal? scratch It's like a big game of Monopoly!
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Post by Donnamarie Sat 04 Sep 2021, 03:59

Lots of guessing and second guessing here.  Fact is none of us here know exactly how many properties George owns at this time.  Annemarie said in an earlier post.  George invests in property over investing in the stock market.  Whether he owns two properties or ten doesn’t change the fact that he spends a lot of his money and his time on a multitude of humanitarian endeavors.  He can do both and still be a good person ... IMHO.
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Post by LizzyNY Sat 04 Sep 2021, 14:42

Donnamarie - Of course he's a good person and does a lot of good in the world. And I understand that buying real estate is his way of investing - and that luxury properties probably guarantee the greatest return if he decides to sell - but these are one-family luxury properties, out of reach of most people because their prices are so inflated.

Living in NY has made me less accepting of the "lifestyles of the rich and famous" whose luxury pied-a-terre purchases at ridiculous prices demolish the housing market for the people who actually live and work in the city. The real estate industry thinks only in terms of $$$ so they build for the luxury market when the real need is for middle - and low-income housing.

My feeling is that a property that is designed to be a primary residence shouldn't be vacant the majority of the time. If you want to spend a weekend - or a week or two - in the city, stay at a hotel. Don't pull a property off the market if you aren't going to use it.

(Sorry for the rant, but this is one of my pet peeves. Embarassed )
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Post by Lilia Tue 07 Sep 2021, 22:18

https://nypost.com/2021/09/07/george-clooney-not-buying-hamptons-of-portugal-mega-mansion/

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Post by party animal - not! Tue 07 Sep 2021, 22:52

https://wmleader.com/entertainment/171720/george-clooney-not-buying-hamptons-of-portugal-mega-mansion/

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Post by LizzyNY Tue 07 Sep 2021, 23:24

I'm confused (AGAIN! scratch Embarassed) What NY property are they talking about? The place they bought in the same building as Cindy and Rande  (I've forgotten the address) is up and running. Are they building something else? Did they sell the first place - or is that the one the article means? Sooooo confused!

Considering his relationship with Mike Meldman, George might just be investing in the project. I'm glad he's not buying another home there.
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Post by annemarie Wed 08 Sep 2021, 10:50

George eying land in Portugal George-Clooney-not-buying-Hamptons-of-Portugal-mega-mansion

[size=42]George Clooney not buying ‘Hamptons of Portugal’ mega-mansion[/size]

September 7, 2021 by Mary Dehart



George Clooney is not building a mega-mansion in the “Hamptons of Portugal,” a representative told The Post.

“Not true,” said the 60-year-old’s representative. “George is not buying any properties.”
The rebuttal comes after local and international reports that “The Midnight Sky” actor was purchasing a plot of land in the CostaTerra Golf & Ocean Club owned by Discovery Land Company, neither of which responded to The Post’s requests for comment.
The “clifftop villa” in the village of Melides, south of Comporta, supposedly has views of the Atlantic Ocean.
The development is owned by one of Clooney’s [url=https://pagesix.com/video/george-clooneys-500- million-net-worth-includes-coffee-and-tequila/?_ga=2.123760969.215205638.1631021045-1036613723.1610309426]former Casamigos tequila business[/url]
partners, tequila tycoon Mike Meldman, who spent about $600 million on the 722-acre lot in 2019. He also owns 24 luxury residential golf communities around the world.

The village of Melides is south of Comporta in Portugal.Alamy Stock PhotoGeorge eying land in Portugal Clooney-melides-10The supposed plot of land.Google Maps
Clooney’s other business partners in Casamigos, which sold to Diageo for $1 billion in June 2017 according to [url=https://www.businessinsider.com/george-clooney-tequila-brand-casamigos-started-by-accident-2017-6#:~:text=Casamigos started as an idea,79 million) in June 2017.]Business Insider[/url], were Rande Gerber and Cindy Crawford.
The 1997 “Batman & Robin” actor and his lawyer wife, Amal, 43, share 4-year-old twins.

The family has properties in Italy and England — both of which recently flooded — and a yet-to-be-built pad in New York, according to previous reports.

George eying land in Portugal Clooney-melides-08Amal and George Clooney.GC Images
George eying land in Portugal Clooney-melides-01Melides beach in Portugal.Alamy Stock Photo


George eying land in Portugal Clooney-melides-03The Atlantic coast, near Melides.Alamy Stock Photo


George eying land in Portugal Clooney-melides-04A lagoon in Melides.Alamy Stock Photo


George eying land in Portugal Clooney-melides-09The village is nicknamed the “Hamptons of Portugal.”Google Maps





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Post by Missa Fri 10 Sep 2021, 03:51

@LizzyNY wrote:I'm confused (AGAIN! scratch Embarassed) What NY property are they talking about? The place they bought in the same building as Cindy and Rande  (I've forgotten the address) is up and running. Are they building something else? Did they sell the first place - or is that the one the article means? Sooooo confused!

Considering his relationship with Mike Meldman, George might just be investing in the project. I'm glad he's not buying another home there.
Is the New York place up and running? The concept art that was out a while back looked like a ritzy high rise type of place, but when they’re in NYC they always look like they’re leaving a brownstone-style building.🤔
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Post by LizzyNY Fri 10 Sep 2021, 15:20

Honestly, I haven't been following the status of the building, but I could swear I saw press saying it was open and occupied. I could be wrong, but I can't imagine any NYC building taking so long to construct. The builders would go broke.
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Post by annemarie Sun 12 Sep 2021, 11:24

They rent a brownstone when here.

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Post by LizzyNY Sun 12 Sep 2021, 16:22

Annemarie - I know they've rented a brownstone in the past, but if that's their go-to when they're in NY why do they need the apartment, too? Is it an investment? Do they rent it out or does it just sit empty? Maybe they sold it and we just didn't know about it.

The last thing this city needs is housing stock nobody uses while the majority of our citizens have a hard time finding a decent place to live.
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Post by Donnamarie Wed 15 Sep 2021, 03:32

I’ll add this tidbit here since we’re talking about George’s properties. I read an article on Apple News site I think.  It was an interview Architectural Digest did with Cindy Crawford.  It was a Q&A.  One subject that came up was Cindy and Randy building a new vacation home in Cabo.  It seems that they have been building it for a while. She said it’s almost complete and hopes it will be move in ready by October.  There was nothing said about George also building there.
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Post by LizzyNY Wed 15 Sep 2021, 16:21

Donnamarie- Didn't the plan to build near Cabo come up when they sold the Casamigos complex? It was a while ago, so I don't remember it exactly, but it did seem that George was involved. It seemed like they were trying to recreate the compound but with more privacy, but I could be totally wrong.
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