Golden visa end puts 100 million tourism projects at risk – The Idealist/News

This is yet another voice joining the chorus of criticism against the closure Gold Visawhich is included in the package More housing announced by Govt. Real estate developer Tepe is in the process of divesting €100 million worth of real estate projects in Portugal as direct investment. “We had assets acquired for development which we are currently considering, depending on what the final decision will be. Either we will reconfigure, or we will develop, or we will keep assets”, says company partner Hugo Lima, who has already made three changes. Tourism projects.

Citing the Journal Economico, the official speculates that, as initially thought, three “projects have already fallen”, and must now be converted.

The projects in question are in the final licensing stage and the marketing campaign is yet to be launched, the official said, adding that they cover about 20,000 square meters (m2). Among them are 170 investors included in the Golden Visa program. “With our sales rate in the first two months of this year, we expect to close 2023 with 300 investors”, emphasized Hugo Lima.

There are two projects at issue Villa Nova de Gaia Another one in the tourist segment and Chavez. “One will represent about 110 tourist apartments that will be sold in 2023 and are expected to open in late 2025. The second is for hotels, with 170 rooms, which we expect to open in 2025. The third will be 30 tourist apartments in a low-density project. Shaves”, advances the person in charge.

Nationalities of investors who can bet in Portugal through the Golden Visa program, “We have Argentina, Venezuela, from the United States, the United Arab Emirates, India, Turkey, Pakistan and China”, says the partner in the tape.

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