We present to you our first project in Portugal, which will be open for investment on the next Monday, March 25th, at 4 p.m.
The Paulo Duque project consists of the development of 6 multifamily homes in the west of Lisbon. The manager of this operation is Vogue Homes, a real estate developer that has been involved in more than 50 projects and has over €751 million in assets under management.
The project in question is located in the town of Cruz Quebrada, belonging to the municipality of Oeiras, Lisbon district. More specifically, it is on Paulo Duque Street, just a few minutes from Dafundo Beach and the iconic Belem Tower, and a 20-minute drive from downtown Lisbon.
Building permit granted and construction initiated
The operation will be structured through a capital increase, where Urbanitae investors will make a capital contribution to the operation’s vehicle company. It has external financing granted for the development of the work with a financial institution. The contribution corresponding to Urbanitae investors will be equivalent to €1,000,000 (plus the €10,000 that are contributed and maintained in the vehicle company).
It is important to note that the project already has a building permit and construction has begun.
The manager will fully manage the promotion, and its contribution, together with that of its partners and after recovering part of the investment made to date, amounts to 35% of the total investment value. This aligns the interests of investors and the promoter.
In this video, the promoter and our CEO, Diego Bestard, explain the details of the Paulo Duque project.
Profitability in 18-22 months
The estimated timeframe for this project is 18-22 months. Regarding profitability, we cannot provide specific figures, but it can be easily calculated from the project’s URL information. Just like in the rest, in the favorable scenario, which is the one we base on at Urbanitae and the one we compare with third parties, profitability is calculated using the formula: (Income forecast – Cost estimate) / Total equity.
In the first quarter of 2024, completion of the capital increase and entry into the development company is expected, along with ongoing construction works.
In the third quarter of 2025, the end of construction, the issuance of the occupancy license, and the delivery of the housing units are estimated.
Finally, in the first quarter of 2026, the dissolution of the company and distribution of profits to investors are expected.
As always, you can contact us at contacto@urbanitae.com or by phone at 911 23 25 22. Get informed and don’t miss the opportunity to achieve annual rental yields of 5.4%.
