Oeiras Golf, stories and vicissitudes of a sports facility

From a promising inauguration, through a period of uncertainties and closure, to its recent revitalization driven by the intervention of the Municipality of Oeiras, its trajectory reflects significant challenges and transformations. The history of Oeiras Golf is, in essence, a story of transformation and resilience, in which a private initiative project paved the way for municipal intervention, focused on preserving a community asset and promoting sports practice.

The fact that it is linked to the "Oeiras Golf & Residence" project from the very beginning means that everything that happens to it ultimately impacts not only golfers, but also residents and the local economy - reasons that alone justify public interest.

Genesis and First Years: The Promise of Oeiras Golf & Residence

Oeiras Golf was officially inaugurated on September 19, 2013 by ESIM - Espírito Santo Imobiliário, S.A., a company within the universe of the then Banco Espírito Santo, currently extinct. From its conception, the golf course was designed not as an isolated structure, but as a central piece of the real estate development "Oeiras Golf & Residence". This integrated vision gained even more strength thanks to its strategic location, in the vicinity of Tagus Park, one of the most important technological and business hubs in Portugal. This proximity was not by chance; it reflects the initial strategy of creating an attraction hub capable of combining quality leisure, housing targeted at the middle/high-middle segment, and a dynamic business environment. The success of the golf course would thus be intrinsically linked to the success and valorization of the entire surrounding real estate project.

The design of the course was entrusted to the Portuguese architect Jorge Santana da Silva, whose philosophy is based on "integrating golf into the work environment". Conceived as a "quick escape from the city", the 9-hole course occupies 30 hectares and, although initially planned for 18 holes, was designed to provide stimulating challenges to players of all experience levels. The goal was for Oeiras Golf to establish itself early on as a reference in the golfing landscape of the Lisbon region, complementing the residential and business offerings of the complex.

Table 1: Oeiras Golf Technical Data

Years of Uncertainty: Closure and Underlying Reasons

The period following the initial years of operation of Oeiras Golf, up until its closure in August 2024, was marked by growing difficulties.

The financial problems faced by the previous management were closely linked to the insolvency process of the former owner, the now-defunct Banco Espírito Santo (BES). The bank’s collapse in 2021 was decisive in preventing the necessary investment and dynamism in the golf course. As a result, the facilities were eventually closed in August 2024, after the end of the management contract with Orizonte Golf. In addition, less effective management, high maintenance costs not matched by revenues, economic crises, and delays in consolidating the integrated business model with the Oeiras Golf & Residence real estate development all contributed to the project’s lack of success.

This financial context led to a degree of neglect and maintenance problems, already visible during the previous management’s decline.

The collapse of the golf component had a negative impact on the real estate development of “Oeiras Golf & Residence.” As the golf course was the central element and main selling point of the development, its closure due to BES’s insolvency devalued the overall concept of the project. 

The acquisition of Oeiras Golf by the Municipality of Oeiras represents a fundamental turning point in the history of the course, as published in the Municipal Notice No. 21/DCH/2024:

41. GAP Acquisition of urban properties Lots Lotamento 6/2002 Cabanas Golfe/ Barcarena Range. 140 and 141 of the Golf Course and Driving License

The justifications for an intervention of this nature by the Municipality of Oeiras are multiple and align with the responsibilities and objectives of a municipality:

1. The safeguarding of an important sports and leisure facility for the municipality and its residents.
2. The creation of the Municipal Golf Academy, as part of the municipality's strategic investment in quality public infrastructure, reflecting a long-term vision for the development of the municipality and the promotion of sports. The project includes partnerships with schools and programs to attract young people to golf.
3. The protection and enhancement of the "Oeiras Golf & Residence" development, and by extension, the heritage value and quality of life in the surrounding area. An abandoned or degraded golf course within a residential area and close to a business hub like Tagus Park could generate urban problems and significantly devalue the area. The municipal intervention, in this respect, goes beyond the mere sports issue, fitting into a logic of urban planning, community well-being, and protection of investments made.

The Future Under Public Management (or Partnership): Plans and Perspectives

With the reopening of Oeiras Golf scheduled for 2025, now under municipal management, questions arise about the future plans and perspectives for the facility. In this new model, the Municipality will be the owner, but management will be entrusted to a private entity to be designated, with the Portuguese Golf Federation involved during the transition phase.

This solution — common in the management of specialized public infrastructures — combines public interest and municipal strategic control with the efficiency and experience of the private sector. Municipalities rarely have the necessary specialization to directly manage golf courses, so hiring a professional operator is generally the most effective way to ensure quality and operational viability.

The revitalization of the course is seen as an important step, with direct synergies for ongoing and planned real estate projects in the Oeiras Golf & Residence area, namely:

• Buildings of Phase C apartments of Oeiras Golf & Residence, under construction or planning;
• The Oeiras City, promoted by the RE Capital fund, which plans for almost 1,000 apartments between the Golf Course and the town of São Marcos (Sintra);
• The Taguspark II, currently in the project phase.

A functional and attractive golf course reinforces real estate valuation, increases the attractiveness of the area, and can bring new residents and businesses, feeding a virtuous cycle of development.

It is also expected that, under municipal influence, there will be greater concern for accessibility to the local community, whether through specific programs, special conditions for residents, or integrating the course into municipal strategies for sports, leisure, and tourism. This model can enhance synergies with other local initiatives and maximize the social and economic return on the public investment made now.

Table 2: Essential Timeline of Oeiras Golf

Looking to the future, the prospects for Oeiras Golf are of cautious optimism. Municipal support, combined with professional management, are factors that can ensure its stability and enhance its contribution to the municipality of Oeiras. The facility reaffirms its importance as an asset for sports, leisure, and qualified urban development, particularly in the context of Oeiras Golf & Residence.

The Location

The Golf course and the adjacent development of Oeiras Golf & Residence are located in the municipality of Oeiras and are served by excellent road access. It is about 8 minutes from the center of Oeiras, 15 minutes from Lisbon, 20 minutes from Cascais, and 15 minutes from Sintra. All thanks to the proximity to the A5 highway, the IC19 expressway (5 minutes away), and the CREL and IC16 highways (10 minutes away).

The Development

The residential and touristic development, located in the municipality of Oeiras, consists of plots for villa construction, apartment buildings, a hotel (in the commercialization phase), a 9-hole golf course with Club House, and various leisure facilities.

Oeiras Golf & Residence (OG&R) is located on a 112-hectare plot, where everything was carefully planned. Here you will find plots for villa construction, semi-detached and terraced villas, apartments, and ample green spaces. The residential project includes over 500 housing units, most of which are already built and inhabited. This integrated project includes landscaping, environmental, leisure, and sports components.

At Oeiras Golf & Residence, there are plots already built and others still available for construction, intended for single-family villas (with some remaining plots for resale), hotel (Phase B), and apartments:

• Land Plots for building houses, there are few available, most are resale, as almost all of the initial 115 plots have already been sold.
• For Houses, used or under construction, there are several options.
• For collective housing, three blocks were built in 2010, with 2 buildings each, and 7 more apartment blocks are planned, with typologies from T2 to T4, currently under construction or pre-sale.

Housing construction projects can be customized, respecting the development's building regulations, which are flexible and compatible with modern architecture, allowing for creative evolution compared to the initial projects.

Points of Interest

In the area adjacent to Oeiras Golf, you will find several unique points of interest:

• Leisure and Sports: Oeiras Golf, Fábrica da Pólvora (a space for culture, leisure, and green areas), Academia e Centro Equestre João Cardiga (with a restaurant, 3 riding arenas, and over 80 horses), Estoril and Cascais beaches, Marina de Oeiras, among others;
• Schools and Universities:
  • Colleges: Oeiras International School, International Sharing School, S. Francisco de Assis, Colégio da Fonte, the future Aga Khan Academy, etc.
  • Universities: Universidade Atlântica, Faculty of Medicine of the Catholic University, Instituto Superior Técnico
  • 20 minutes away: St. Julian's School, Colégio Maristas de Carcavelos, St. Dominic's International School, etc.
• Restaurants: Restaurante Maria Pimenta, Restaurante 9&Meio Oeiras Golf, Picadeiro de Sabores, Restaurants in the Central Center of Taguspark;
• Commerce: Supermarket Mercadona Taguspark, Oeiras Parque, São Marcos Shopping Center, Fórum Sintra, etc.;
• Services: Hospital da Luz, Farmácia Tanara Taguspark, Holmes Place, Gyms, Hairdresser, Laundromat, Banks, Clinics, and Car Rental, among others;
• Companies: Taguspark, located right next door, houses some of the largest international companies, such as LG or Novartis. 10 minutes away are Lagoas Park and Parque Empresarial Quinta da Fonte;

Videos about Oeiras Golf & Residence

• YouTube: Presentation of Oeiras Golf & Residence
• YouTube: Sold or for sale houses