Land with Favorable PIP Decision for Four Villas with Views over the Bay of Funchal – ID 2292825

A unique residential development opportunity in an elevated and privileged location in Funchal. Located in Santa Luzia, on Rua da Pena, this property benefits from a dominant position over the city, providing expansive views over the Bay of Funchal and the Atlantic Ocean, in a setting that combines proximity to the centre, privacy and an excellent landscape exposure. The property has a total area of 2,317 m² and results from the integration of two contiguous urban buildings: a plot with 738 m², where there is currently a house, and a building plot with 1,579 m². For this property, a municipal decision was issued in June 2025 in favour of the Request for Prior Information (PIP), regarding the development of a residential complex consisting of four independent houses, organised under a horizontal property regime. The architectural proposal takes advantage of the natural slope of the land to distribute the villas over different levels, favouring privacy between the units and enhancing the views over the sea and the city. Each villa has been designed with generous interior areas, private outdoor spaces, swimming pool and garden areas, creating a contemporary residential concept especially suited to the premium segment of Madeira's real estate market. The project includes four independent houses: Swimming pool and private patio in each unit; Two floors above the threshold level; A floor below the threshold level for parking; 848 m² of gross housing area; 811.20 m² of total floor area; 517.15 m² for the garages of the fractions; 50.25 m² of porches; 601.90 m² of patios and swimming pools; Three parking spaces for visitors; Proposed implantation area of 668.10 m², corresponding to approximately 29% of the total land area; Maximum height proposed of 9 meters. The four fractions have different dimensions and configurations, allowing the creation of a diversified residential offer within the same development. The planned gross housing areas vary between 157.30 m² and 317.65 m², while the useful areas indicated in the project vary between 162.40 m² and 233 m². The location allows a convenient connection to the centre of Funchal, the historic area, the marina, services, restaurants and the main road accesses of the city, while maintaining a reserved residential environment. The combination of the size of the land, the elevated position, the views over the Bay of Funchal and the municipal decision in favour of the PIP reduces a relevant part of the urban uncertainty normally associated with the acquisition of land for real estate development. This is a particularly interesting proposal for real estate developers, private investors or family offices looking to develop a small-scale residential development and luxury segment in one of the most valued areas of the capital of Madeira. Key highlights: Urban land with 2,317 m²; Elevated location in Santa Luzia, Funchal; Panoramic view over the city, the bay and the Atlantic Ocean; Municipal decision in favour of the PIP issued in June 2025; Architectural proposal for four contemporary villas; Swimming pools, gardens and private parking; Proximity to the historic centre and the Funchal Marina; Potential for the development of a unique residential development. The execution of the urban operation remains subject to the corresponding prior control and licensing procedure, under the terms indicated by the Municipality of Funchal. The urban documentation, plans and technical elements of the project may be made available to qualified buyers or investors. For more information or to schedule a private presentation of the property and the project, please get in touch. #ref:3342

Plot of land of 2,317 m²

Santa Luzia, Madeira, Portugal

Location