Hi Friends
I would be grateful if fellow members of this forum could give me their advice on the scheme I propose below. I own a piece of land in the centre of Rogil, Algarve, Portugal. This is urban land and I have just been granted Outline Planning Permission, (Pedido de Informacao Previo) for 16 townhouses with communal swimming pool, gardens and underground car park. The layout is, ground floor: kitchen, patio, barbecue, small garden, bathroom, dinning room/office and lounge. First floor 2 bedrooms, veranda, bathroom. The outside layout will be: 8 properties, swimming pool together with 2 communal pool rooms, then the other 8 properties. Underground car parking for all properties.

I am Portuguese but have lived in the U.K. for many years. My plan is to make some money out of this land, keep 1 property for myself, and come back to Portugal. I know next to nothing about property and as I am not in Portugal it is difficult for me to start this project.

If there is anybody who might be interested in talking to me about any of the proposals below please email me. I feel that (3) is an excellent opportunity for somebody who does not have much money, would need some capital for marketing, and who wants a business opportunity, someone with good ability to organize and to get things moving and good marketing skills, to get involved and get it of the ground.

All suggestions welcome. Many thanks

There are 3 possible things I could do with this land:

(1) Sell the land.
(2) Get someone with capital and know how to do a joint venture with me and build. OR
(3) See below: THE PROPOSAL, THE PROJECT.


All suggestions welcome. Many thanks.

Hello Lukas
I could have been interested as I worked as a Project Manager in the UK (managing high risk multi-million pound projects). I have also managed two building projects here and have just signed a Contract for a third one. However, I thought your proposal to be very well reasoned and presented very professionally. I think though that you need to think about three aspects.

I'm not sure that I agree with you that the housing market in the Algarve is bouyant. There are thousands of villas/apartments for sale here. It is definitively a buyers market. Owners are dropping prices by as much as 25% in order to sell when they become desperate.
See you again

We are already involved in similar projects in the Algarve and have local presence and a portugeese manager perminantly in the area. My business partner and I are both resident in the UK and would like to further your potential interest in this project. Please contact me directly at: colin@epholdings.com. I am certain that we could find a good solution. Colin S

Dear Sir,
I was reading your message in this forum. As I understand you own a plot of land in Rogil with building permission. I am living in Portugal (Portimao) and are Dutch. I am a partner in a investment group who is buying and building property in Algarve. If you like to sell, what is your asking price and what is including this, permissions.
If you not sell what are you looking for exactly?
Awaiting your reply,
With kind regards,
Jack de Heer
jackdeheer@netcabo.pt

Dear Sir,


I had read your message in the forum and I think that is better to sell the land or make a joint venture with an investor to build and keeping 1 or 2 properties for you (or more, it depends of the price of the land, the price of the construction, the sales, etc...).

I’m a lawyer in Portugal, Lisbon, managing partner of a law firm that provides legal assistance in the diverse areas of commercial, real estate, urban, banking and financial, tax planning and employment law, always acting in accordance with the profession’s deontological norms.

I supposed that we can talk about the project if you want.

ATTENTION: The Outline Planning Permission, (Pedido de Informacao Previo) have a legal period of 12th months of validity, than become invalid.


I have a former colleague living and working in the UK (Norwich) and we can arrange a meeting or if you want you can send me the file to my law office, in Portugal, Lisbon.

I'm certain that we could find a good and a secure solution for you.


Best Regards,


Fusco
Lawyer