Santander to back €1bn Lone Star leisure jv with €600m

Santander is prepared to lend up to €600m or 100% of the construction cost of Lone Star and Vilamoura World's €1bn leisure joint venture in Portugal. The Spanish bank will provide development facilities on a project-by-project basis as the 1,700-hectare Vilamoura scheme in Portugal's Algarve region is built out in phases over the next five years.