Author: Ben

At the beginning of Bom Sucesso Resort, the developer, Acordo, created several sales brochures to showcase and promote the project. These brochures vary slightly, depending on when they were printed, and they offer a fascinating look at how the vision of the resort evolved over time.

Thanks to Darren, Andre, Usha, Matthew and Erich, first homeowners at Bom Sucesso, we’ve been able to scan and archive a few of these brochures. The originals are beautiful, large A3 prints with high-quality materials. I’ve done my best to organize them in the order I believe they were released.

If you have other brochures, especially in languages we don’t have yet, please let me know! I’d love to archive them for the community.

If you only have time to check out one, I recommend Brochure V3 here. It’s one of the latest versions and gives an excellent overview of the original vision for Bom Sucesso Resort.

1. Sales Brochure V1

Format: A3 Horizontal, 12 pages

This appears to be the first version, as the resort map includes buildings that were never constructed. It looks like an early draft of the project.

• See the English version here

2. Sales Brochure V2

Format: A3 Vertical, 28 pages

This version still features the old Bom Sucesso logo. It introduces “Phase 3” on the resort map.

• See the English version here

3. Sales Brochure V3

Format: A3 Vertical, 28 pages

This version uses the updated logo, with an elegant transparent print on the cover. We’ve found this brochure in three languages:

• See the English version here
• See the Portuguese version here
• See the German version here 

The German version features a house by Siza Vieira on the first pages, which wasn’t built. The Brochure might have been created later to promote sales of this model.

4. Sales Brochure for Bom Sucesso Golf Course

Format: A4 Horizontal, 30 pages

This brochure focuses on promoting the golf course.

• See the Portuguese version here

5. Sales House One-Pager

Format: A4

Salespeople provided potential clients with one-page Sales Sheet showcasing individual houses. These flyers highlighted specific designs and features of the homes and shows the floor plan on the back. Here are a few we’ve managed to archive so far:

Lots starting with 100:

• Lot 100 – Eduardo Souto Moura, English here
• Lot 113 – Eduardo Souto Moura, English here
• Lot 125 – Manuel Aires Mateus,English here
• Lot 126 – Ines Lobos, English here
• Lot 127 – Madalena Cardoso de Menezes Francisco Teixeira Bastos, English here
• Lot 145 – Manuel Aires Mateus, English here
• Lot 152 – Nuno Graça Moura, English here
• Lot 158 – Nuno Graça Moura, Portuguese here
• Lot 199 – Carrilho da Graca German here

Lots starting with 200

• Lot 210 – Gonçalo Byrne, English here
• Lot 215 – Madalena Cardoso de Menezes Francisco Teixeira Bastos, English here
• Lot 217 – Goncalo Bryna, German here
• Lot 218 – Goncalo Byrne, German here
• Lot 228 – Alvaro Siza, German here
• Lot 240 – Alcino Soutinho, Portuguese here
• Lot 267 – Gonçalo Byrne, Portuguese here
• Lot 277 – Alvaro Leite Siza, German here
• Lot 289 – Carlos Prata Portugues, Portuguese here
• Lot 287 – Falcão de Campos, Portuguese here

Lots starting with 300

• Lot 319 – Madalena Cardoso de Menezes Francisco Teixeira Bastos, English here
• Lot 329 – David Chipperfield, Germany here
• Lot 333 – Manuel Graca Dias Egas Vieram, German here

These brochures are a valuable piece of Bom Sucesso’s history, and it’s exciting to preserve and share them with the community. If you have any additional brochures or insights about their history, please reach out—I’d love to expand this archive!

Thank you! Ben

If you’re interested in more publications about Bom Sucesso, check out this blog post here.

Twenty years ago, the Bom Sucesso Resort (BSR) project was shown to the public for the first time at an event in the Centro Cultural de Belém (Lisbon). After the event, there was a multi-day exhibition showing models of the houses in Phase One. A catalog called “14 Arquitectos: Projectos do Bom Sucesso Resort” was also published.

(Catalog which is the first publication of Bom Sucesso can be downloaded here) 

At that time, the project’s promoter said it took 12 years to get the legal approval for the development. Bom Sucesso Resort was advertised as the largest exhibition of contemporary architecture, which is true. But some other promises were not kept. For example, they said BSR would become “the top reference in Europe for luxury real estate developments” and that the project would be finished in five years. 

Special about Bom Sucesso is the modern lifestyle and the wonderful international community. We hope that one day the project will be completed as the amazing architectural icon it was meant to be.

You can read the 20-year-old article from Público here in Portuguese. 

It is great to live with you at Bom Sucesso, Happy Birthday!

Ben

Nestled along the serene landscapes of Portugal, Bom Sucesso Resort stands as a testament to innovative architectural design and breathtaking beauty. As an avid enthusiast of architectural literature, I searched for publications documenting the resort architecture. Here what I found so far.

Sales Publications

The journey into Bom Sucesso’s architectural realm begins with its sales publications.

1. Sales Brochure

The sales brochure, adorned in oversized red, introduces the visionaries behind the resort. They meticulously list every architect involved and a comprehensive overview of the project, complete with pictures of house models and detailed maps outlining the expansive phases of development. Available in Portuguese, English, and German.

You have to look inside, great overview of the vision.

• See the English version here
• See the Portuguese version here
• See the German version here 

Edit: See latest Blogpost about all sales Brochure here.

2. Sales Book; 14 Arquitectos Projectos Do Bom Sucesso Resort Book

In December 2004, the Bom Sucesso Resort project was introduced at the Centro Cultural de Belém (CCB) in Lisbon (see here). An exhibition titled “14 Arquitectos Projectos Do Bom Sucesso Resort” showcased the 14 architects’ work. While details about the exhibition are scarce, a book with the same title provides a comprehensive overview of the architects and their contributions to the resort’s first phase. Have you had a chance to visit the exhibition or explore the book? It was handed out to the first owners.

• See scan of the book here.

3. Sales Video

In addition to books, I want to share something interesting about Bom Sucesso Resort: a sales DVD. This video was made to show the resort’s vision to potential investors and visitors. It offers visuals and commentary in 12 min overview (the speed of the video feels so slow).

Architectural Publications

Numerous publications delve into the works of architects, spotlighting their contributions to the architectural landscape of Bom Sucesso.

4. Alvaro Siza Design Process, Quinta do Bom Sucesso Housing Project, 2013

Delving into the meticulous design process of one of Bom Sucesso’s villas, this book offers a fascinating glimpse into the creative journey of renowned architect Alvaro Siza. From initial sketches to the final touches, each stage of the design evolution is meticulously documented, providing invaluable insights into Siza’s architectural genius.

Book here

ISBN: 978-989-8481-29-0

Below Image: Architects’ First Meeting at Bom Sucesso Resort, from the book above.

5. Souto de Moura, El Croquis, 2009

Esteemed architect Souto de Moura’s contributions to Bom Sucesso are immortalized in this comprehensive publication. With detailed analyses of four villa types and the hotel, accompanied by insightful sketches, this book offers a view into Moura’s architectural vision and creative process.

The book is hard to get, an traded for more than 100 Euro (here).

Digital version for 14 Euros here.

Sketch from Eduardo Souto de Moura, which are in the book are published as well as pdf here.

ISBN: 9788488386557

6. Alcino Soutinho, Arche News 14, 2009

This edition of Arche News celebrates the architectural prowess of Alcino Soutinho, offering a nuanced exploration of his contributions to Bom Sucesso Resort. It discribes one house in phase one. Through captivating narratives and stunning visuals, readers gain a deeper understanding of Soutinho’s unique design philosophy.

Find publication here.

ISBN 5601073067485

7. Carrilho da Graca, Architectural Guide, 2019

Providing a comprehensive overview of Carrilho da Graca’s architectural oeuvre, this guide offers intriguing insights into his vision for Bom Sucesso.

Fun Fact: Did you know that the architect originally envisioned the houses at Bom Sucesso Resort to be white, contrary to the striking red hue they boast today?

Find book here.

ISBN: 9789899846296

8. Gonçalo Byrne, A Casa de Quem Faz as Casas, 2016

In this captivating exploration of Gonçalo Byrne’s architectural journey, readers are treated to a visual of one of the unfinished sub-condominium at Bom Sucesso, known as “The Fingers.”

Book here.

ISBN: 9789898851048

9. Manuel Aires Mateus El Croquis & L’architettura di Aires Mateus

The project by Manuel Aires Mateus at Bom Sucesso can be found in these publications: Architectural Guide Aires Mateus (ISBN 9789895440139),El Croquis: Aires Mateus 2002 2018 (ISBN 9788494775437) and an Italian publication, L’architettura di Aires Mateus (ISBN 9788837078102).

10. Graça Dias & Egas Vieira

The Round Houses at Bom Sucesso Resort, designed by Graça Dias and Egas Vieira, are featured in the Arquitectos Portugueses Série 2 edition ISBN is 9789898657480, and in the book collection A Casa de Quem Faz as Casas as number 6 about Manuel Graça Dias ISBN: 9789898851017, This publications include detailed photographs, models, and sketches, providing an in-depth look at the architectural design.

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Author:

I’m Ben; my family moved to Bom Sucesso in 2022. I’m passionate about modern architecture and fostering community. My vision is a vibrant Bom Sucesso evolving into a globally recognized landmark for modern architectural design.

A comprehensive analysis and personal perspective by Ben. This is not the opinion of all Fellow Owners but should motivate discussions.

Summary

In my analysis of Bom Sucesso Resort’s development, focusing on Villas, I challenge the reported completion of 402 out of 600 buildings by early 2024. In conclusion, I stress the need for stakeholders to focus on completing the entire resort, urging administrative responsibility and an inquiry into major plot owners’ intentions.

Disclaimer: The information contained is to the best of my knowledge at the date, and I’m happy to correct any typo or error.

Intro

According to the condominium administration, 402 out of 600 buildings within the Bom Sucesso Resort have been completed by the beginning of 2024. However, strolling through the resort feels less than 66% is done. And I’m questioning if BSR management and major stakeholders intend to finish BSR.

> Can we anticipate completing the remaining 200 buildings within the next ten years, given that it took 20 years to construct the initial 400 buildings?

Twenty years ago, in 2004, Bom Sucesso Resort was first presented to the public (article here), and in 2006, when they announced the second phase, they aimed to finish construction by 2011 (article here).

The resort faced challenging times by being bankrupt in 2014 (article here); at that time, Maria da Graça Meireles from BS Villas, who was responsible for the BSR Condominium administration, said about the resort: “Now it’s not even about completing it, but about saving it’.” I want to learn from the current management led by Eduardo Montenegro if this is still the case or if they feel responsible for finishing the resort.

Edit: In 2015 when the Onebiz Group took over BS Villas, the CEO Pedro Portugal said: “I think that within two or three years the project will be practically finished”. (Article here)

Good news: In the last two years, I have witnessed the resort gaining momentum with a growing community and progressing toward completion. But can we see this in numbers? The turn of the year was an excellent time to take a snapshot of Bom Sucesso Resort’s development.

Analysis January 2024 

I compiled this dataset independently, personally counting houses, assessing development status, and interpreting the data. This data set will be more meaningful, comparing it over the coming years. Despite my inquiry, the condominium could not provide me with any data for this assessment.

My primary focus is on the villas at Bom Sucesso, but I’ll briefly touch on other projects. Notably, long-standing issues with “The Three Large Ruins” have remained in this state for a decade.

Subcondominiums

Subcondominiums are predominantly row houses sharing a garden and pool at Bom Sucesso, with 15 at BSR (by counting the plot numbers). One, Caminho do Lago 13-21, Lot 234, remains unbuilt. Two are stopped, and I think they strongly impact BSR’s reputation:

1. Lot 288 on Rua Bela 7-55 is owned by Abanca Bank.
2. Lot 313 on Rua da Lagoa 28-58, “The Fingers,” is owned by Sintonizavalor soc imobiliaria lda

Commercial Buildings

Initially planned for Hilton with 120 beds, the hotel faced a construction halt in 2014. Owned by Roberto Solis SA (BS Villas) today, the completion status of this hotel significantly influences other investors’ decisions. Furthermore, a functioning hotel is imperative for Bom Sucesso to call itself a resort.

Let’s focus on Villas at Bom Sucesso for this analysis in January 2024. 

Out of the initially planned 326 villas at Bom Sucesso Resort, the current status reveals that only 159 have been completed (49%), while 138 villa plots are empty (42%). 

Sixteen villas (5%) are currently under construction. With the hopeful completion this year, the development progress would surpass 50%. 

Thirteen villas (4%) are in a construction suspension/“ruins.”

Comparing this year’s data with data published by the press teen years ago, when BSR went bankrupt, it reveals progress: The press reported at that time (here) that 350 buildings were built, and 80 houses were under construction, but many of them were being stopped.

Since the historical data does not focus on just villas, we need to compare it to the 402 Buildings reported as finished by the administration. It shows progress; luckily, we no longer have so many ruins. However, the progress does not show enough speed to finish the other 200 buildings in the next ten years.

Edit: An academic study (here), based on official data from the city of Obidos, reported 338 finished houses in 2014. This shows only 64 buildings have been completed in the last ten years. When the development continues at this speed, it will take 30 more years to complete the resort.

Plot ownership

Abanca Bank is the leading owner of 37 undeveloped villa plots and owns one stopped villa project. (They have 11% of the condominium votes)

The second largest landowner is “Sintonizavalor soc imobiliaria lda” with 28 undeveloped plots, three stopped, and only one finished Villa. One project was in progress, but it has been months since I have seen activities, so I categorized it as stopped.

Intriguingly, these two major players own 47% of all empty plots, including premium locations designed by top architects like David Cahperfiled, Álvaro Leite Siza, and Manuel Aires Mateus. Since they don’t own finished villa projects (except one), I could not find their plots listed on public real estate platforms like Idealista. The question arises: What are their intentions for these plots? Are they strategically holding them back? 

A notable actor driving progress is the company named Round B, which is actively finalizing the construction of three red houses at the lake. Additionally, they have acquired a few more properties to complete existing structures and initiate new buildings from scratch. 

Some private owners are finishing villas, which I do not list here.

Over the last two years, the City of Óbidos has sold six plots. Only two plots remain under their ownership, showcasing a significant shift in the city’s property portfolio at BSR. 

The BBVA Bank currently holds seven plots. They intend to exit the BSR market. In mid-January, they tried to sell all plots via action, starting at 85k Euro, but none got sold. (Action here)

Real Estate Market

I took an interest in taking a snapshot of the number of villas and plots offered on the real estate market (while I’m not monitoring house prices). As of early January 2024, the data on Idaialista reveals a dynamic landscape:

• Finished Villas: 28 units (18%) are currently listed for sale.
• Empty Plots: 41 plots (30%) are available for prospective buyers.
• Stopped Projects: 4 projects (31%) are on the market. Some are available in their current state, while others are offered the option of services to complete their construction.

In addition to the villa offerings, the market provided ten Sub-Condominium Units and one commercial property for sale.

Conclusion:  

Focus on the Big Picture:

As stakeholders of Bom Sucesso Resort, we should focus on the grand vision of completing the entire resort. We must transition into a scale mode by finding like-minded investments to ensure sustained growth. This venture can only succeed if we grow it to its full potential. 

Administrative Responsibility:

Get the commitment from the Bom Sucesso management, led by Eduardo Montenegro, to complete the resort. And to establish the foundational conditions for fostering growth. 

Hotel and Sub-Condominium Status:

Hold the BSR administration accountable for promoting the completion of “The Three Big Ruins”, and requesting reports about the status on a quarterly base. 

Major Plot Owners’ Intentions:

Inquiring into the intentions of major land owners, such as Abanca Bank and Sintonizavalor soc imobiliaria lda, becomes paramount. Owning a significant percentage of empty plots, their strategies can significantly impact the future development and market dynamics at Bom Sucesso Resort.

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Author:

My name is Ben; I moved to Bom Sucesso in 2022 with my family. I love modern architecture and bringing people together. I envision a vibrant Bom Sucesso Community evolving into a picturesque village where every house is impeccably completed, gaining global recognition as a contemporary architecture landmark. 

In a groundbreaking achievement, renowned architect David Chipperfield has been honored with the prestigious Pritzker Architecture Prize for the year 2023. This accolade marks a significant milestone for Chipperfield, recognizing his outstanding contributions to the field of architecture.

Notably, this achievement also holds special significance for Bom Sucesso Resort, as David Chipperfield becomes the third architect associated with the resort to receive the esteemed Pritzker Prize. Eduardo Souto de Moura revide the price 2011 and Álvaro Siza Vieira 1992 . The resort, already celebrated for its avant-garde design and collaborative approach, now boasts a trifecta of Pritzker laureates among its contributors.

We believe Bom Sucesso is the only place in the world where you have buildings designed by 3 Pritzker laureates within less than 1 mile.

As Bom Sucesso Resort continues to attract global attention, the recognition of David Chipperfield’s achievements through the Pritzker Prize underscores the resort’s status to becoming an iconic place.

For accuracy, please read the full master’s thesis in Portuguese; it can be found here.

Maria Rita de Oliveira Nunes d’Angelis published a 2019 Lisbon University master’s degree study that explores the dynamics of real estate-touristic activities in the municipalities of Óbidos, Portugal (including Bom Sucesso Resort, Royal Óbidos, Quinta de Óbidos Country, West Cliffs) and Tibau do Sul, Brazil. It investigates the causes and consequences of failed second-home enterprises, resulting in ruins. The research analyzes the impact of capitalist inconsistencies, private conjectures, and the 2008 global financial crisis on these localities. Financial issues were a major cause in Óbidos, while Tibau do Sul faced diverse factors. The study highlights the vulnerability of the real estate-touristic market when dependent on banking financing and influenced by global instability. Both locations experienced similar outcomes, revealing unmet economic expectations and the sector’s fragility.

The summary of the paper focuses on the Bom Sucesos Resort resort:

The Bom Sucesso – Design Resort, Leisure & Golf project obtained its construction permit in 2004 but remained incomplete until 2017. The resort, spanning approximately 156 hectares, was planned to comprise 601 houses designed by 23 internationally renowned Portuguese architects, including figures like Álvaro Siza Viera and Eduardo Souto Moura. The houses varied from one to five bedrooms, totaling 2,966 beds.

The resort featured a heliport, a Hilton hotel, a dog hotel, a supermarket, convenience stores, a laundry, a hair salon, an equestrian center, a restaurant, and an 18-hole golf course. The unique concept allowed buyers to acquire a home and a living work of art designed by their chosen architect.

Despite ambitious plans, only 338 out of the 601 planned houses were built, and the resort faced insolvency in 2014. The ownership structure was complex, involving entities such as Acordo Óbidos S.A., Bom Sucesso SGPS, the Graça Moura family, Banco Espírito Santo PME Capital Growth, and the Portuguese state through Portugal Ventures.

Accommodation Units	T1	T2	T3	T4	T5	Total	Total Beds
Total	55	175	210	147	14	601	2.966

The resort initially benefited from the Agência Portuguesa para o Investimento (API) and COMPETE funds. It was designated a Project of Potential National Interest (PIN), a classification aimed at facilitating large investments. However, it encountered financial difficulties, and the completion of key structures, such as the Hilton hotel, was halted.

In 2014, Onebiz Group acquired BS Villas, which managed the tourist exploitation of villas and the golf course. This marked a shift towards direct tourism use rather than an investment model tied to the resort. Onebiz, a multinational company specializing in franchise management, became involved in the resort’s management. Currently, the resort focuses on tourism, renting houses to temporary users unconnected to its investment, and maintaining the golf course as its primary offerings. Despite ruins in the condominium, customers continue to use the resort’s facilities.

Failure:

According to her study, the failure of Bom Sucesso resort is attributed to various factors:

1. Banking Issues: The implosion of Banco Espírito Santo (BES) is mentioned as a significant factor. BES was a crucial partner for financing home acquisitions in the resort. The structural problems in the Portuguese banking sector, characterized by excessive optimism in funding large real estate projects and exposure to bad credit, contributed to the failure.
2. Global Financial Crisis: The resort’s emergence coincided with the global economic recession, making it a particularly unfavorable time. The international economic downturn led to a contraction in real estate purchases by both national and foreign investors, as well as a reduction in financing for project continuation.
3. Over-Optimism and Mismanagement: Stakeholders point to problems in the initial planning and management of the resort. There is criticism of the resorts’ overemphasis on golf as the main attraction and their strong connection to real estate. Some stakeholders suggest that resorts were managed and promoted by individuals from the real estate sector rather than tourism, leading to a focus on construction and sales rather than understanding and meeting the needs of the tourism market.
4. Lack of Diversification: The resorts in Óbidos, including Bom Sucesso, faced criticism for their specialization in real estate-tourism, particularly with a focus on golf resorts. The text suggests that this strategy may have been a wrong choice, as it led to high prices, difficulties in selling properties, and insufficient attractions beyond golf, which impacted the ability to attract a diverse range of visitors.
5. Financial Fragility and Dependency on Banks: The financing model, heavily reliant on bank loans, proved fragile. When the banking sector faced challenges during the global financial crisis, it affected the resorts’ ability to continue construction. The resorts were heavily dependent on bank financing for both the construction of infrastructure and the purchase of properties by consumers.

In summary, Bom Sucesso’s failure is attributed to a combination of factors, including banking issues, the global economic downturn, poor planning, over-optimism, mismanagement, lack of diversification, and heavy reliance on bank financing. These challenges collectively contributed to the downfall of the resort project.

Solutions:

The text discusses the future prospects and proposed solutions for the continuation of the projects in light of the ruins of the developments in Óbidos. When stakeholders were questioned about the solution, there was a lack of hope for a short-term resolution. According to the interviewee from the Câmara de Óbidos, the future involves exercising more caution and attempting to sell the resorts, claiming that this situation will normalize. There is a legal gap concerning the insolvency of resorts, leaving uncertainties about who should take responsibility for completing the works in case of bankruptcy.

The interviewee from CCDRLVT mentioned that future projects will be subject to the new legal framework, requiring proof of financial viability for project execution. The recent revision of land policy laws ensures that if the construction of large-scale projects, such as tourist complexes, is authorized and the installation deadline is not met, the land will revert from urban to rural. However, there is no clear legal directive from the Portuguese government regarding what to do with the existing resorts, leading to complex debates and conferences to find a solution.

CCDRLVT is cautious about revising master plans in other municipalities, integrating discussions to anticipate and control situations similar to those in Óbidos, which were ultimately dependent on the actions of the property owners.

All interviewees agreed that any action towards the resorts should come from the private sector, as they are the legitimate entities to handle such projects.

Regarding solutions proposed by resort managers, they leverage the initially implemented tourism facilities, such as golf, hotels, and country clubs, to make the investments profitable, albeit insufficiently. The Resort Bom Sucesso, for instance, resold the tourist operation of the houses to the Onebiz company to make the constructed properties profitable. The resort still offers the built houses for tourist accommodation. Additionally, the golf course hosts national and international championships, accommodating players in the resort’s houses and ensuring all equipment rentals, carts, as well as the use of restaurant spaces.

Other resorts like Royal Óbidos and Quinta de Óbidos adopt similar strategies, focusing on hotels, golf courses, and additional amenities to enhance profitability. The text concludes that these solutions are precarious and do not allow for results as lucrative as when the developments were fully operational.

Please read the original Blog here and watch the News report from Sexta as 9 in Potugess here.

On January 18, 2019, the RTP1 Friday at 9 program presented an exposé titled “António Godinho, the Truth About a Hoax,” aiming to unveil the reality behind the actions of the former Montepio presidential candidate. The program disclosed Godinho’s alleged involvement in a simulated purchase using a check from Montepio.

The investigation highlighted a potentially questionable relationship between an insolvency administrator of BS Villa and a Spanish bank. The implication of this relationship suggested that the Portuguese State might need to repay 4 million euros in community funds. The Quintas de Óbidos, initially envisioned as a luxury resort, faced insolvency, prompting a Public Ministry investigation into António Godinho, who had been previously regarded as an advocate for ethics.

The report delved into a tourist investment valued at 35 million euros, eventually acquired by Grupo Abanca for less than half its assessed value. The insolvency process surrounding this transaction raised suspicions, leading to expectations of a protracted legal battle. The intricate plot involves an insolvency administrator chosen by Abanca and implicates António Godinho in the controversial proceedings.

See the News report from Sexta as 9 in Potugess here.