Várzea de Sintra
PIP approvedSintra Living
Buildable area +38% to 3,985 m² · targeting ~2× MOIC over 18–24 months.
[Verde Land I] · First investment strategy
We acquire coastal land and unlock its value.
Verde Land I is our first fund strategy — a Dutch Cooperative that buys well-located Portuguese coastal plots, takes them through planning and licensing, and sells Ready-to-Build land to developers. Bank-unfinanceable to begin with, market-priced by the time we exit.
[01] The thesis
Land is the most mispriced asset in Portuguese real estate, and it is mispriced for structural reasons that don't fade with the cycle. Banks don't finance it, so the natural pool of buyers is tiny.
Most of it — the great majority of the well-located coastal plots we want — sits with families who have held it for two or three generations, who are rarely in a hurry and rarely know what a permit would make it worth.
The result is an asset that trades on patience and local knowledge rather than on capital, where the real value is unlocked not by building but by licensing — turning “someday” land into Ready-to-Build land the whole market can price.
Working this gap takes relationships more than money, which is why we have assembled the winning expert network for land development in Portugal — the best lawyers, architects, brokers and developers on our side.
Verde Land I puts that network to work: buying where others can't get financed, licensing where others lack the relationships and the patience, and selling into a market that is structurally short of homes.
[02] Key facts
- Fund
- Verde Land I
- Vintage
- 2026
- Target size
- €10M
- Structure
- Dutch Cooperative
- Geography
- Portugal — coastal
- Hold
- 2–4 years
- Target net IRR
- 25%
- Minimum ticket
- €100,000
- GP co-invest
- In every deal
- Fees
- 2% mgmt · 20% carry over 8% hurdle
- Deals to date
- 3 (Sintra · Bicesse · Restelo)
- Status
- Open for subscription
Placeholder terms — full fund documentation available on request. Target returns are objectives only and are not guaranteed. Investments involve risk and are subject to the terms of the relevant investment documentation.
[03] Process
From raw land to realised value.
We don't wait for land to appreciate. We change what it can become — through planning, licensing and development expertise.
01
Find
02
Unlock
03
Realise
04
Stay Aligned
From raw land → to realised value
01
Find
Identify overlooked or underused land in locations supported by long-term demand.
02
Unlock
Repurpose sites for urban use and create planning and licensing clarity.
03
Realise
Sell or partner with a developer once the land has become substantially more investable.
04
Stay Aligned
Where the opportunity remains attractive, Verde may stay invested through the development phase.
[04] Holdings
What's in
the fund.
Fund investors get direct exposure to every deal to date — ring-fenced structures, GP capital in every project, priced to the current milestone.
Cascais
LicensingBicesse Living
30–50 apartments · 6% VAT regime · SPV closed · in licensing.
Lisbon · Restelo
In negotiationRestelo Living
Off-market plot on the western edge of Lisbon · terms under discussion.
The way in
Discuss
Verde Land I.
Full fund documentation, subscription mechanics and current deal memos available on request. Talk to us to receive the investor pack.