Pre-opening | Wecity Prepares a €1,000,000 Loan to Complete the Refurbishment of Eight Homes in Figueira da Foz (Portugal)

23/09/2026 – ⏱ 3 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

Wecity, authorised by the CNMV under registration number 9, is preparing a €1,000,000 mortgage loan to HUUS2ATLANTIC – Mediação Imobiliária, Lda. to cancel outstanding debt and complete the refurbishment of an eight-home building at Rua Goltz de Carvalho, 16, in Buarcos (Figueira da Foz, Portugal). It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

The rate is fixed at 11.50% per annum, over nine months extendable by three, with a four-month lock-up and interest paid at maturity; the platform puts the total estimated return at 8.625%, an estimate subject to investment risk and not guaranteed. The minimum investment is €500, which is also the maximum during the first ten minutes. The internal rating is AA, the platform's own assessment which, as it warns, is not comparable to that of rating agencies and does not replace the investor's own analysis. No opening date is stated.

Asset description, construction progress and sales traction

The property sits on a 149 sqm plot, with 552 sqm of gross built area split into eight independent units for sale. The permit was granted on 23 September 2025 and the valuation puts works progress at 59%.

Marketing has only just started and no home has been sold: zero out of eight. Repayment depends entirely on those sales, which come after delivery. The total cost of the development is €1,535,000 and expected sales total €2,520,000, at €4,565 per sqm. The fact sheet presents €2,780 per sqm as the construction cost, although the figure corresponds to the total cost; in addition, the completed-building valuation of €2,407,400 sits below the expected sales figure.

Financial structure, coverage ratios and security

The security is a first-ranking mortgage over the asset, although the file refers in one section to a pledge, a discrepancy worth checking against the contract. According to Gesvalt, the current value is €1,797,500 and the completed-building value €2,407,400: a first-drawdown LTV of 55.63% and an LTV on completed value of 41.53%.

The developer has contributed €535,000 of its own funds for the acquisition and fees, which together with the €1,000,000 loan cover the total cost. Works to date were financed with a loan from a third party, so part of the funds raised will go to cancelling that debt rather than to construction, without the fact sheet quantifying the split. HUUS Portugal Living, the group to which the borrowing company belongs, describes itself as a real estate agency founded in the Algarve in 2005; the file provides no track record of completed developments. An external agent manages the security, funds are held in a Lemonway escrow account and a verification company authorises each drawdown.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period to revoke their offer without penalty. This is a crowdfunding product, not a deposit or a guaranteed savings product; the platform recommends allocating no more than 10% of net worth to such projects. It carries risks of illiquidity and of total or partial loss of principal. It is not supervised by the CNMV or the Bank of Spain, and has no cover under Directives 2014/49/EU and 97/9/EC. Investors may not recover the capital contributed.

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Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.