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It's not just the three Starwood hotels, but the resort complex also has townhouses and a small number of huge homes that seem to be privately owned. I'm not sure whether it's mostly time share or regular condos.
Sheraton Cascais, also in Portugal but much closer to Lisbon, seems to be developing in the same way, with many units (timeshare/condo) in addition to the hotel. Still, it's nowhere near as huge as Pine Cliffs.