MB House of Investment | Real Estate Co-Investment in Lisbon

MB House of Investment 
Real-Estate Investment
Invest in the Portuguese Real Estate market with ZERO management fees and low investment minimums.
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Portfolio on Sale
★  As featured in Forbes Portugal  →



Our Track Record
+16
Projects Financed
Successfully funded and managed
+9y
Years Experience
Operating Investments in Portugal
0%
Management Fees
We share successes only
+€9M
Managed Assets
 All projects managed
Featured in the Press
“Reabilitar não é apenas embelezar prédios, é regenerar ruas, bairros e formas de viver.”
Priscila Ibrahim, CEO, in Forbes Portugal  ·  "Rehabilitating is not just about beautifying buildings, it is about regenerating streets, neighbourhoods and ways of living."
FORBES WOMEN SUMMIT LISBON 2026 · ON STAGE
"Investir numa mulher é mudar a sociedade"
Priscila Ibrahim on the "Vozes do Capital" panel, about leading in venture capital, fintech and urban rehabilitation.
Read article
FORBES PORTUGAL · ARTICLE
"A arte de transformar cidades com capital privado"
Our CEO Priscila Ibrahim on how urban rehabilitation regenerates streets, neighbourhoods and ways of living.
Read article
NORTE IMOBILIÁRIO · PODCAST
Interview with Priscila Ibrahim, CEO
A full 41-minute conversation on strategy, leadership and the Lisbon rehabilitation market.
Watch interview
See all press & articles
Why Choose MB House of Investment?
Real-Estate has always been a valuable asset, making property co-investments one of the most secure options available.
We're removing the traditional barriers to entry - eliminating complex legal paperwork and steep entrance fees that typically prevent everyday investors from accessing this market.
0% Management Fees
Low Minimum Ticket (€10K)
5% Target Minimum Return, Backed by Property Value
Open Projects
 Exited Investments
Open Projects


Entire Building - 3 Apartment Units 
Total Investment €450.000
Lisbon | Buy to Sell
Estimated Exit Price €630.000
ROI - 17.33%  
Time - 8 Months | 2025 
More Info
Entire Building - 4 Apartment Units + 1 Commercial Store
Total Investment €1.600.000
Lisbon | Buy to Sell
Estimated Exit Price €2.750.000
ROI - 21.78%  
Time - 15 Months | 2026
More Info
About Us
Metal Ballerina, LDA is a Portuguese real estate investment company with over 9 years of market experience, specializing in the acquisition, renovation, resale, and rental of both residential and commercial properties. To date, we have successfully invested in 16 full-scale renovation projects and currently manage an assets portfolio valued at +€9 million.
We are actively involved in co-investment partnerships with private investors from Portugal, Brazil, Chile, Spain, and the Netherlands, leveraging international collaboration to drive high-impact results.
At the helm is Priscila Ibrahim, our CEO and founder. With a background in Design and extensive experience in renovation project management, Priscila brings a sharp aesthetic vision combined with operational efficiency. Her leadership is defined by attention to detail, sensitivity to final product quality, and a deep commitment to architectural and commercial value creation.
Our Finance Director and Co-founder, Thiago Oliveira, leads capital strategy, investor relations, banks relationship, financial feasibility, and strategic partnerships. His work ensures that every project is backed by sound financial planning and structured growth.
Over the years, Metal Ballerina has built deep, hands-on knowledge of the Portuguese market, from property sourcing and seller negotiations to construction management, supplier coordination, and navigating municipal regulations. This integrated expertise enables us to operate with confidence and precision, even in complex projects.
Learn More about our Media presence
Priscila Ibrahim - CEO and Founder
Thiago Oliveira - Finance Director and Co-Founder
Exited Investments
2-Bedroom Apartment
Investment Ticket €85.000
Lisbon | Buy to Sell
Exited Price €275.000
ROI - 37.11%  
Time -  11 Months | 2024
2-Bedroom Apartment
Investment Ticket €91.000
Lisbon | Buy to Sell
Exited Price €280.000
ROI - 21.45%  
Time - 7 Months | 2025
Commercial - Store
Investment Ticket €44.000
Lisbon | Buy to Rent
Monthly Rent €1.000
ROI - 20.4%  
Time - 8 Months | 2025
4-Bedroom Apartment
Investment Ticket €75.000
Ajuda-Lisbon | Buy to Rent
Monthly Rent €1.650
ROI - 15.23%  
Time - 4 Months | 2023
Commercial - Store
Investment Ticket €90.000
Ajuda-Lisbon | Buy to Rent
Monthly Rent €800
ROI - 10.54%  
Time - 4 Months | 2018
1-Bedroom Apartment
Investment Ticket €35.000
Ajuda-Lisbon | Buy to Rent
Monthly Rent €1.000
ROI - 22.87%  
Time - 4 Months | 2020
2-Bedroom Apartment
Investment Ticket €145.000
Ajuda-Lisbon | Buy to Rent
Monthly Rent €1.150
ROI - 15.23%  
Time - 6 Months | 2019




How it Works?
1
Select Open Investment Options
Explore our available real estate co-investment opportunities tailored to your timeline, capital availability, and return expectations.
2
Sign & Review Agreement
Carefully review and digitally sign the investment contract. Legal terms, expected ROI, guarantees and exit strategy are covered here.
3
Move Funds
Transfer your committed capital to the designated escrow account securely. Confirmation will be sent after verification.
4
Capital Pool  Lock-in Window
A 4-month period begins for signing investor agreements and raising at least 60% of the required capital.
💡 Important: Funds can only be transferred during this window. After this period, the capital pool is closed and no further entries are accepted.
5
Operations Kick-Off
Once minimum capital is reached and the lock-in completes, property acquisition, renovation, or rental operations begin.
6
Exit Strategy Execution
Upon reaching refurbishment completion, the property is sold. The process includes listing, negotiation, and sale finalization.
7
Investment Exit & Profit Distribution
Sale proceeds are distributed proportionally among all investors. You receive your initial capital plus gains based on your share.
Legal Structure & Investor Protection
Portuguese Decree-law No.231/81 of 28-Jul
The Equity Participation Agreement, (“Contrato de Associação em Participação”), governed by Portuguese Decree-Law No. 231/81 of July, 28, is a flexible legal structure that allows an investor ("associado") to contribute funds or assets to a business activity led by a managing partner ("associante"). The business is operated solely under the associante’s name and legal responsibility, meaning the associado remains a silent partner with no public exposure or direct liability. This structure is ideal for investors seeking to participate in Portuguese ventures—such as real estate developments or startup projects—without being actively involved in operations or assuming legal risks.
The law provides several built-in safeguards to protect investor interests. All profit-sharing terms are clearly defined by contract, and the associado retains the right to receive regular information and performance reports. As no separate legal entity is formed, administrative burdens are minimized, while confidentiality is preserved. Additionally, the contract allows parties to predefine exit clauses and dispute resolution terms, offering international investors legal certainty and operational transparency in line with global best practices.
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Join our investors already benefiting from our investment solution. (mb@mbinvestpt.com)
*Past performance is not a reliable indicator of future performance.
mb@mbinvestpt.com
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Insights
Real numbers from real projects in Lisbon. Costs, mistakes and opinions, written by the people who sign the cheques.
Affordable housing quotas in Portugal: who actually pays
We bought a Lisbon flat for €152K and sold it for €280K. The profit wasn't €128K.
Read all articles
FAQs
1. How does MB House of Investment select properties?
We choose properties based on strict investment criteria, focusing on:
High-demand urban neighborhoods (e.g., Lisbon – Ajuda, Alcântara, Belém, Restelo)
Opportunity for value-add through refurbishment or repositioning
Existing undervaluation or market inefficiencies
Each property is evaluated based on financial viability, resale projections, and historical demand patterns.
2. What happens during the lock-in period?
After signing the agreement, there’s a 4-month capital-raising period, during which capital can be transferred.
Once the minimum investment threshold (60% of target capital) is reached and the window closes, and we start to prepare for operations.
No additional entries or exits are allowed during this period.
This ensures project viability, stability, and fairness to all investors.
3. What is the 5% target minimum return?
The 5% ROI (before tax) per year refers to a minimum projected return on investment, derived from:
The secured value of the property
Conservative resale estimates
A 15% financial buffer included in project costs to mitigate seasonality and unforeseen fluctuations.
Note: This is a target backed by the value of the property, not a legally binding fixed return.
4. What happens if the property is sold above the minimum valuation?
In the best-case scenario, surplus profits (above projected ROI) are:
Proportionally distributed among investors according to their shareholding
Declared as capital gains for taxation purposes (see below for tax impact)
This is a common outcome, as MB strategically invests in undervalued, high-potential zones.
5. How does MB protect investor capital?
Capital is secured by the value of the property itself.
We underwrite each investment assuming moderate scenarios — including:
Realistic selling price estimates
Conservative renovation budgets
Liquidity buffer of at least 15% to handle seasonality, construction delays, or legal variances.
Even in worst-case conditions, the asset value acts as collateral and is sufficient to support capital recovery.
6. What taxes apply to my investment in Portugal?
For Portuguese tax residents:
IRS (Imposto sobre o Rendimento das Pessoas Singulares) applies to capital gains and rental income.
Real estate capital gains are generally taxed at a flat 28% rate.
Alternatively, individuals can opt for progressive tax rates (up to 48%) if this is more beneficial based on their income bracket.
Portuguese companies are taxed under IRC (Imposto sobre o Rendimento das Pessoas Coletivas) at a standard 21%, with possible municipal surtaxes (derrama).
For non-resident individuals and companies:
Non-residents are subject to Portuguese taxes only on income sourced in Portugal.
Standard tax rates:
Individuals: 28% IRS on rental income or capital gains.
Foreign companies: 25% IRC on Portuguese-sourced gains.
MB House of Investment provides detailed investment reports and fiscal statements annually for your tax filing and compliance.
When a Double Taxation Agreement (DTA) exists between Portugal and your country of residence, you may be eligible for tax credits or reductions in your home country.
Special Tax Regimes for New Residents
The former Non-Habitual Resident regime (RNH/NHR) closed to new applicants in 2024. It was replaced by IFICI (Tax Incentive for Scientific Research and Innovation, often called "NHR 2.0"), which applies only to specific qualifying professions and activities.
Those already registered under RNH keep their benefits for the remainder of their 10-year period.
IFICI eligibility and benefits are narrower than the old RNH, so each case must be assessed individually.
We recommend speaking with a Portuguese tax advisor before investing. We are happy to introduce you to trusted partners.
Can I get a tax refund?
Yes — in some cases. If you file your own tax return (in Portugal or abroad) and have:
Other deductible expenses
Investment losses in the same year
Tax credits from bilateral agreements
you may be eligible for a partial refund of taxes paid on your MB investment.
Important for Investing as companies:
 If the investment project or activity lasts more than 12 months, the company is generally considered to have a Permanent Establishment (PE) in Portugal, under OECD and local tax rules.
In such cases:
Income is fully taxed only in Portugal, and
The foreign company is typically not subject to double taxation, provided a Double Taxation Agreement (DTA) exists between Portugal and the company’s country of residence.
Refer to:
Código do IRC – Artigo 4.º (Estabelecimento Estável)
OECD Model Tax Convention – Articles 5 & 7
Eligibility for tax refunds or reductions is highly dependent on your personal tax profile and global income.
We strongly recommend that each investor consult their own certified accountant or fiscal representative to optimize their reporting and ensure full compliance.
7. What happens in a worst-case scenario?
Our investment financial modeling include a 15% financial cushion. But if an extreme event occurs (e.g., market crash, regulatory freeze), the following protections are in place:
Investors retain proportional rights to the real estate asset
MB would initiate forced liquidation of the asset, distributing funds to investors
You are always first in line as a creditor in the capital structure
While we prepare for volatility, nothing is risk-free — MB’s strength lies in its conservative approach and capital discipline.
8. Why doesn’t MB House of Investment create an SPV for each project? How are funds protected?
At MB House of Investment, we’ve intentionally chosen not to use SPVs (Special Purpose Vehicles) for each project in order to streamline the investment process and reduce unnecessary administrative delays or legal overhead and most important costs.
Instead, we use a dedicated bank account system — each investment project is tied to a legally isolated account that is:
Linked directly to the signed investment contract and the specific property
Exclusively used for that project — meaning no co-mingling of funds between different projects or company operations
Transparent and auditable — all fund movements are traceable and backed by documentation
Important:
These accounts cannot be accessed for any other operational, marketing, payroll, or unrelated real estate costs. They are ring-fenced exclusively for:
Property acquisition
Renovation and improvement works
Legal, notarial, and transaction costs tied directly to the project
Costs essential to the resale or rental of the property
This system ensures the same degree of fund segregation and investor protection you’d expect from an SPV — but with greater speed, flexibility, and reduced legal cost.
The structure is designed to preserve:
Investor capital integrity
Legal traceability
Fast deployment timelines