We’re excited to present a new project in Portugal, a market where we have financed €25 million throughout 2024. This time, we’re returning to the Lisbon district, specifically to the municipality of Cascais, to develop luxury housing. This new project will open next Tuesday, December 24, at 12:00 PM (UTC+1). Here are the details.
The Quinta dos Pinheiros project involves the development of a luxury real estate promotion that includes:
- 18 single-family homes with private gardens, outdoor terraces, private pools, and three parking spaces per unit.
- A multifamily building with 12 apartments, featuring a garden, terraces, a pool, and parking spaces.
The asset is located on Rua São Caetano in Estoril (Cascais), just five minutes from the nearest beach and only three minutes from the highway with direct access to central Lisbon. This area is a well-established residential neighborhood with all essential services nearby.
Once again, we are partnering with Vogue Homes, a developer we’ve already worked with on two projects in Portugal. With 20 years of experience in the Portuguese market, Vogue Homes specializes in premium developments like Quinta dos Pinheiros. Their two previous projects—Paulo Duque and Quinta do Cedro—are currently under construction.
Construction Can Begin
The Quinta dos Pinheiros project follows a capital gains strategy. Thanks to contributions from investors, which will total €4,240,000, Urbanitae investors will become shareholders in the project.
The project already has the pre-information request (PIP) approved, and the parcel division is under approval. This ensures that the conditions for urban planning and land division viability have been established. The architectural and engineering plans for the villas and apartments will be submitted to the municipality through a prior communication procedure. This is possible because with the PIP approved, the municipality does not need to issue additional approvals to begin construction.
On the commercial side, the developer plans to begin off-market sales once construction starts. Since these are luxury homes, they are expected to have strong market appeal, maximizing sales prices once construction is underway or completed.
The developer will oversee the entire project, and their contribution will represent 70% of the project’s total equity value.
In this video, the developer and Sergio Arana, Urbanitae’s Director of Real Estate, explain the project in detail.
Returns in 34–38 Months
As with all capital gains projects, the regulator (CNMV) does not allow us to disclose an estimated return. However, you can calculate it using the formula below based on the project’s details.
(Revenue Forecast – Cost Estimate) / Total Equity
The estimated timeline for this project is 34–38 months. Construction is expected to begin in the second quarter of 2025 and conclude in the second quarter of 2027. The homes are scheduled to be delivered in the fourth quarter of 2027, at which point the company will be dissolved and profits distributed to investors.
Next Monday, December 23, at 11:00 AM (UTC+1), we’ll hold a webinar with the developer to address any questions about the project. You can also reach out to us at contacto@urbanitae.com or by phone at +34 911 23 25 22.
We look forward to seeing you there!
