Description
The hotel consists of 108 fully furnished studios and three-bedroom apartments, each apartment with a large balcony and views of the Tagus River. The complex has a rooftop restaurant and a bar with a magnificent view.
The buildings have a spa, fitness center, conference rooms and parking.
The owners of the apartments will receive a guaranteed income, and can also apply for a Golden Visa.
The contract of mandatory tourist operation for 20 years with a guaranteed minimum yield of 3% for the first 10 years, or 5% for 5 years. All apartments are located in a shared rental pool. After deducting expenses, the generated amount will be distributed to all owners according to the area of the apartment, for the time until the apartment is used for their own living and/or family and friends. That is, as long as the property is available in the rental pool, the owner will be entitled to his share of income minus expenses such as cleaning, room service, etc.
If the amount received after expenses is below the guaranteed minimum, the company will pay the difference, if the cost is above the guaranteed minimum, the owner will receive the real value.
The management company provides monthly reports on tourist exploitation, pays income every six months, that is, twice a year. At the end of each financial year, the management company also provides the owners with accounts verified by an independent company.
The owner also has the right to use 4 weeks a year with a limit of 1 week in December and January and 1 week in July and August.
Completion of the work is planned in February 2022.