According to Açoriano Oriental, Lagoa Town Hall will sell a property in the parish of Santa Cruz for the construction of a 5-star hotel unit.

In order to proceed with the public tender, the municipality, led by Cristina Calisto, has hired Norma Açores to “elaborate the public auction procedure, which will be used by the municipality for the exercise / conditioning of the subsequent construction of a 5-star hotel unit”.

The location of the land, the number of rooms of a five-star building unit and other obligations for interested parties will be disclosed in the tender specifications for the land sale procedure.

This investment will be eligible for funding under Competir+ – an investment incentive system that can provide 55% (or more) of the required financing. The 55% financial grant is divided in two parts: 30% is Non-refundable incentive (NRI); while 25% is a Refundable component (RI) that works as a zero-interest loan with a 4-year grace period.

A simple example: an investment with eligible expenditures worth 10 million euros can, under Competir+, be financed with 3 million euros of NRI, plus 2.5 million euros of RI. The remainder (4,5 million euros) can financed by other means. My recommendation would be, at least, 15% by equity (1.5 million euros) and 3 million by debt.

Competir+ is also available for smaller projects and other areas besides tourism.

If you want to know more about Competir+, you can email me via the contact form available in my website.

I will be following this public tender – so contact me if you want to know more information as soon as its available.

Fábio M. V. Sousa é consultor de empresas, prestando diversos serviços nas áreas da análise de investimentos, das candidaturas a sistemas de incentivo ao investimento e da avaliação de empresas. Para mais informações, não hesite em utilizar o formulário de contacto.

Fábio M. V. Sousa is a business consultant, providing several services in the areas of investment analysis, applications for investment incentive systems and company valuation. For more information, feel free to contact me.

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