We present to you a new project in Porto that will open for investment on Wednesday, April 24th at 8 p.m. (UTC+2).
The Oasis project consists of developing a real estate promotion of 104 multi-family homes on the outskirts of Porto.
The asset is located in the town of Rio Tinto, belonging to the municipality of Gondomar, just a few minutes from the center of Porto. Rio Tinto has a population of 47,600 inhabitants, and it is a fully consolidated area with all kinds of services, including sports facilities, a golf course, a shopping center, and direct access to a large road network.
This time, we are placing our trust in Emanuelle Investments, a real estate company dedicated to developing new residential buildings in the northern region of Portugal.
88% of the homes reserved
The operation will be structured via a capital increase, where Urbanitae investors will make a capital contribution to the vehicle company of the operation.
This vehicle company will enter into the share capital of the promoter and holder company of the earnest money contract on the asset. The contribution from Urbanitae investors will be equivalent to €2,490,500 (plus the €10,000 contributed and held in the vehicle company).
The manager will be responsible for the comprehensive management of the promotion. Their contribution, together with that of their partners and after recovering part of the investment to date, amounts to 15% of the total investment value, aligning the interests of the promoter with those of the investors.
In this video, the promoter and our CEO, Diego Bestard, explain the details of the Oasis project.
Profitability in 32-36 months
The estimated timeframe for this project is 32-36 months. Regarding profitability, we cannot provide exact figures, but it can be easily calculated from the project URL information. As with the rest, in the favorable scenario, which is the one we base on at Urbanitae and which we contrast with third parties, profitability is calculated using the formula: (Projected income – Cost estimate) / Total equity.
In the second quarter of 2024, a capital increase and entry into the development company are expected.
In the third quarter of 2024, the start of construction work is estimated.
In the fourth quarter of 2026, the completion of construction and delivery of the homes is expected.
Finally, in the first quarter of 2027, the liquidation of the company and distribution of profits to investors are estimated.
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%.
