Building sustainable golf real estate

The current global economic climate and the growing need for sustainable solutions are increasingly shaping how golf real estate developments are being built.

Whether it’s the production of energy efficient homes in landscapes defined by green space or the creation of social communities where buyers are happy to live and work in harmony, developers are having to embrace a shift in status quo and adapt to some of the challenges linked to prevailing economic uncertainty.

Golf real estate developments, including within the European Tour Destinations network of world class venues, are well-positioned to combat these increasing demands and to provide fruitful investments for investors.

In this feature, we hear from Sandra Ruttle, European Tour Destinations’ real estate consultant, on the underlying optimism that currently exists within the golf real estate market and take a closer look at how three of the network's leading venues are continuing to appeal to global investors, offering sustainable real estate developments:

Pirin Golf & Country Club, Bulgaria
Quinta do Lago, Portugal
Costa Navarino, Greece

Optimism in golf real estate market

While there are significant challenges facing property developers, there are signs of significant optimism from within the golf real estate sector.

Sandra Ruttle, European Tour Destinations’ real estate consultant, who has more than 17 years’ experience managing and advising top golf property developments, believes the sustainability focused solutions being achieved by venues in the network ensure the resorts, including the real estate, have a positive impact on residents and visitors, local communities and the environment, both now and in the future.

These include:

Embracing environmental and economic sustainability
Delivering energy efficiencies and savings in development projects
Utilising digital technologies to enhance property infrastructure
Creating communities to foster healthy lifestyles
Appealing to new, younger property buyers

Sandra said: “The Paris Agreement put issues concerning the environment and actions to reduce the impact of climate change front and centre. With thousands of countries and companies committed to reducing emissions and delivering carbon neutrality by 2050, real-estate leaders and developers are among those having to revalue assets, decarbonise and create new business opportunities.

“In the case of European Tour Destinations, our network provides a great framework where venues, each in unique locations with their own individual economic and environmental constraints, can come together and learn from each other.

"Having access to each other’s best practices and being able to discuss key learnings to grow and develop their own responses to the challenges all industries - not just the golf sector - are having to face in 2023 and beyond, is proving vital.”

The path to net-zero can provide welcome economic savings for savvy property developers - an area some European Tour Destination venues are able to capitalise on.

A more sophisticated approach to the use of digital technologies can also appeal to the energy conscious buyer - with a greater ability to monitor and manage the energy produced by a property and how it is distributed.

“Many of the residents at our resorts are entrepreneurial and enjoy successful careers, yet care deeply about the planet and this is why sustainability is at the heart of every thing we do," added Sandra.

"By creating the necessary infrastructure and using the latest technology in energy management, our resorts endeavour to reduce energy consumption and maximise the use of renewable energy.

"Their real estate is designed and oriented in such a way as to optimise utilisation of natural elements and building techniques, leading to an overall reduction of energy needs.

"That is what is being achieved at our network destinations, led by Costa Navarino in Greece, where the developers are showcasing how efficiencies can be achieved and what benefits can be gained. This is acting as a blueprint for other resorts and is changing the global real estate landscape for the better.”

WATCH: Find out how an influx of younger buyers is having a positive influence on these key trends at European Tour Destinations.

Pirin Golf & Country Club, Bulgaria

Reducing construction times by up to 60% through MMC

With global forces impacting the availability of building materials, labour and energy, Pirin Golf & Country Club, in Bulgaria, has employed the use of modern methods of construction (MMC) to expand its real estate portfolio.

It is a move which is proving hugely popular with buyers and investors.

A combination of post-pandemic uncertainty, unease in the East and increasing inflation has made obtaining raw building materials a difficult process.

The availability of bricks, concrete, roof tiles, paints and electrical products have all been affected, resulting in longer build lead times, especially for European markets heavily reliant on the Far East for their materials. Surging energy costs and a shrinking skilled labour pool are compounding the challenges.

However as other resorts struggle to revise their master plan, Pirin Golf & Country Club, in Bulgaria, is sidestepping supply issues, as Owner and CEO, Ina Kanazireva, explains:

“We found that our MMC approach, which we’d adopted way before the pandemic, bucks these shortage trends and meets the increasing demand for new properties.”

MMC is the umbrella term applied to different types of construction involving significant portions or all of the building being manufactured in a factory setting and joined together on-site.

Benefits of such a method include:

Less material waste - and therefore more efficient use of stock
More sustainable and better-quality housing
Improved lead times - estimated construction time reduced by 20-60%

Building efficiencies into construction

“Initially, we didn’t build using modular techniques but when an investor approached us with a request for 20 houses, we realised we needed a quick and efficient way to deliver such a project,” added Ina Kanazireva, explaining that lead times for MMC project completions at Pirin Golf & Country Club can range from six months to a year, depending on a client’s needs.

“We also needed a quieter and less intrusive method of building, as we didn’t want to inconvenience our members and golf clientele, and of course one that met the same industry regulations.”

MMC builds are growing in popularity as lenders realise it meets the same regulations, codes and guidelines as traditionally built homes and therefore are more readily providing finance for such projects.

“People were sure bricks were better insulators and thicker, but it turned out this wasn’t the case. We learned plasterboard was more efficient, it’s quieter, and it brings the same qualities,” continued Ina Kanazireva.

“Modular building has also enabled us to continue building throughout the winter, when we didn’t want heavy construction materials on site.”
Ina Kanazireva, Owner and CEO, Pirin Golf & Country Club

Demand for Pirin Golf & Country Club’s pre-fabricated, modular-built wooden constructions is strong. The Bulgarian resort two hours south of capital Sofia is currently building 17 more Chalets, adding to the 24 units that were sold in just the last 12 months.

The level of interest has spurred on the development of much larger Eco Chalets that will be built solely from locally-sourced materials, underlining the resort’s commitment to a more sustainable future, and following Pirin Golf & Country Club’s modular construction methodology.

Quinta do Lago, Portugal

Developing a year-round destination with a strong community

Having celebrated its 50th anniversary in 2022, Quinta do Lago has a long and successful history as one Europe’s premier real estate investment opportunities.

In that time, it has grown into much more than just a sunspot in the heart of the Algarve for a quick golf getaway. Underpinned by continuous investments and cutting-edge enhancements, Quinta do Lago has expanded into a community of property buyers who adhere to certain beliefs and values, and in search of a particular lifestyle.

Sean Moriarty, Chief Executive at Quinta do Lago, said: “When buying a property at Quinta do Lago, you’re buying into a certain way of life.

“Our continuous investment and addition of new facilities has made the resort a year-round destination with a big sense of community at its heart.”

Recent investments at Quinta do Lago include:

Redeveloping the resort’s three championship golf courses
Creating and upgrading 14 different outlets, restaurants and bars
Constructing a state-of-the-art sports complex

Sean Moriarty added: “Since I joined the team seven years ago, we have had a clear strategy. We needed to bring the entire business up to an integrated level that did not just focus on property and golf.

“For example, we wanted to be known for our food offerings and gastronomic experiences. So, we opened new restaurants and refurbished and rebranded existing ones, which has led to people really buying into our complete culinary offering.”

The opening of The Campus in 2018 was another key development, providing a holistic health and fitness offering to all residents, members and guests.

“The Campus is a high-performance sports centre for athletes and professional sportspeople, as well as a health club for residents who can become members of the facility. This essentially means it has become a new social hub of the resort,” added Sean Moriarty.

“This eclectic sports offering - including tennis, padel, cycling and swimming - has made Quinta do Lago one of the finest wellness, lifestyle and sports rehabilitation resorts in Europe today, not just during peak golf and summer season periods, but also in the off-season.”

The continued investment in its golf offering - spanning its courses, including a €7 million sustainability-focused upgrade to its South Course, and its facilities, with the recent renovation of its clubhouse - has helped Quinta do Lago retain its reputation as one of the top golf resorts in Continental Europe.

It was the pandemic and the unexpected shift in mindset from a global workforce perspective, however, that provided the ultimate opportunity for Quinta do Lago to further promote its year-round appeal.

“Since the pandemic we have more and more residents living all year round at Quinta do Lago. Guests benefit from the fast Wi-Fi we have in the resort, with the peace of mind of having everything their families need onsite,” continued Sean Moriarty.

“We also have three international schools less than 15 minutes from Quinta do Lago and with all the sports activities we offer to kids at the resort, it is the ideal location to raise a family. We’re noticing that this is providing a shift in age range of our buyers too, as they have become younger, setting up roots for future generations.”

“It is fair to say our property owners are reaping the fruits of our investments, which, in turn has helped to maintain the high-level price-points of our properties, and the upward trajectory in their valuations, which continues to make Quinta do Lago a sound investment for any buyer.”
Sean Moriarty, Chief Executive, Quinta do Lago

Costa Navarino, Greece

Investing 8% of total budget into environmental practices

Spanning 1,000 hectares across five distinct sites, Costa Navarino - recently voted as Continental Europe’s #1 Golf Resort - is leading the way in creating a truly sustainable development.

The award-winning destination, which will ultimately comprise several distinct areas featuring 5-star deluxe hotels, luxury residences in the form of apartments and villas, and four stunning golf courses, boasts a unique real estate offering that has sustainability instilled at the heart of the development.

Costa Navarino Residences are defined by the destination's overarching sustainability philosophy, which is detailed in the development plan of each property, outlining a clear framework and key guidelines developers must adhere to for every build.

“The application starts from the very beginning, at the planning stage. Every villa has a sun, temperature and wind study done on it to ensure it is optimally positioned to create its own efficient micro climate to help reduce its energy needs,” said Evgenios Dendrinos, Director of Real Estate Development at TEMES, the developer and operator of Costa Navarino.

“The architecture of each property is then designed to be bioclimatic - in other words, we incorporate indoor and outdoor spaces, consciously create shaded areas and use swimming pools as a cooling mechanism for the villas, so you don’t have to use a lot of ‘artificial’ air-conditioning to cool properties.

“Our planted roofs - of which we have more than 5000m² at Navarino Dunes - are a unique feature of our properties, offering additional structural insulation, while creating individual micro climates for and around each building.

“The flora we use is all local. Non-indigenous plants and vegetation would have different irrigation needs which would add to the annual water consumption and therefore be counterproductive.

“For each residence to be as efficient as possible, we install heat pumps with the highest efficiency ratings, turning all properties into smart-buildings. This not only enables us to heat and cool dwellings electrically, it also allows us to monitor operations remotely - partly to identify faults quickly but also to manage and optimise energy consumption.

“Adding to the efficiency of each building too are the windows and frames that are of the highest standard to provide maximum insulation and help optimise energy usage, while our strict lighting guidelines are aimed at helping minimise light pollution.”

Building efficiencies into construction

Beyond the design aspects, the team at TEMES carefully considers the emissions created by the actual construction of each property at Costa Navarino too.

“Whenever we build a property, we calculate the minimum amount of earth needed to be moved to minimise energy consumption and impact. The excavated earth is then deposited next to the residence so it can be used to create its gardens,” said Evgenios Dendrinos.

“All materials used to build each property are regionally-sourced too, including local stone and wood to minimise impact and support the resort’s sustainability ethos that transcends throughout the destination.”

One of the reservoirs which contributes to Costa Navarino's sustainable efforts.

One of the reservoirs which contributes to Costa Navarino's sustainable efforts.

TEMES' approach to the development of Costa Navarino Residences has been well-received by investors.

“If we look at our owner profile, regardless of where they’re from, they share the same values, which creates a community of like-minded people. We strongly believe this is the strongest foundation in order to have high-quality and sustainable destination."
Evgenios Dendrinos, Director of Real Estate Development at TEMES

Costa Navarino: Facts & Figures

Invested 8% of the total budget into environmental practices
Developed a strategy to leave 90% of land unspoiled
Committed to carbon neutrality by 2030 and minimal single-plastic use by 2025
Built reservoirs to use surface water for irrigation
Undertaken the biggest olive tree transplanting programme in Europe, with more than 7,000 olive trees replanted so far
Developed sewage plants to recycle and re-use water