Access development-level returns passively, from €50,000
Capital is at risk, returns are not guaranteed.
Our current projects.
Figueira da Foz
Marina-front residential building with shared terraces in central Figueira da Foz, developed with HUUS. Under construction, completion expected in November 2026.
Figueira da Foz
Boutique building of eight apartments in Buarcos, about 50 m from the beach, behind a restored traditional façade, developed with HUUS. Under construction, completion expected in November 2026.
Setúbal
Fourteen new residences in three buildings around a private garden with a pool, in the historic centre of Setúbal.
Development participation
Leca Horizons develops residential projects in Portugal and, for selected projects, raises development equity from private investors through project-specific Contratos de Associação em Participação (CAEP).
Under a CAEP, the contracting company named in the agreement acts as the managing party (Associante). The investor contributes capital and participates contractually in the project result under the signed agreement (Associado).
A CAEP is not an apartment purchase, does not make the investor a shareholder or property co-owner, and does not guarantee a return. Capital is at risk.
Off-plan apartments
Fourteen new residences in the historic centre of Setúbal, from studios to a T3 duplex. Ask us which apartments are available, about the payment schedule — 30% at the promissory contract, 70% at the deed — and about delivery.
Payment schedule
Portugal needs more homes than it builds. The figures below are market averages, not a forecast; each project is judged on its own location, costs and valuation.
In early 2026 homes in Setúbal sold for about €2,809 per m², against about €5,292 per m² in Lisbon, roughly 47% less; Setúbal prices rose 29.4% in a year.
Price per m², early 2026
17.8%
First quarter of 2026, against a year earlier
Portuguese house prices almost tripled between 2015 and 2025, and in the first quarter of 2026 were 17.8% higher than a year earlier.
Licensing takes time and construction is slow, while demand stays strong.
Buyers increasingly want new buildings with parking, lifts, shared areas and modern systems, while much of the housing in city centres is old.
Global Nest Portugal develops small and mid-sized residential buildings in Lisbon, Greater Lisbon, Porto and selected coastal cities like Figueira da Foz.
We focus on fully licensed projects (or with a clear licensing path), strong demand, and high liquidity.
The development partners contribute to each project — land, costs already paid or capital, set out per project — and share in the remaining profit only after investors receive their capital and any preferred amount the contract provides.
CAEP investors participate in the project result under the terms of the signed agreement. The economic result is variable and depends on the project outcome.
With experienced development partners, we follow each project from acquisition and licensing to construction and sales, and provide the reporting set out in the signed CAEP.
Private investors — professionals, entrepreneurs and experienced investors — who want to take part in one specific development, review the documents behind it and speak directly with the developer, and who accept that the money stays committed until the project exit and that the result is not guaranteed.
Investor FAQ
For Castelo, the current project, the minimum participation is €50,000. Each project sets its own amount in its CAEP contract, and the team shares the other terms with the project material after a short conversation.
Protections come from each project's signed contract and differ by project. Typically investors receive their capital and any contractual preferred amount before the developer shares in the remaining profit, and they have reporting rights. The financing bank is paid first and normally holds the mortgage. Nothing is guaranteed and capital is at risk.
Returns are project-specific. They depend on entry and construction costs, financing, taxes, sale prices, sales timing and the contract's distribution order. The team shares the figures for the current project in the approved project material, with the assumptions and the downside cases. Past results do not predict future results; capital is at risk.
Until the project exit: the money cannot be withdrawn on request. A complete new development usually takes around two years, but each project's timing comes from its own programme and contract, and it can move.
Yes. Investors and buyers can visit the sites and meet the team. Reporting during a project follows the reporting clause of its contract.
Global Nest Portugal is the trading brand of LECA HORIZONS UNIPESSOAL LDA, founded by Irina Leca, a real-estate developer in Portugal whose path runs from architecture and design through technology companies, including Fitbit and Google, to property development. Meet the team on the About page or ask us directly.
