InvestBay's portfolio has entered a new phase

Summary: In 2025, InvestBay's portfolio confirmed its first measurable performance: real payouts, capital growth and continuing results for Q1 2026. The report shows 14 projects in 8 locations across 6 markets and explains the differences between cashflow projects, development and fundraising. An important theme is seasonality: some destinations are strong in winter, while others enter their main income phase only in Q2/Q3.
For investors, the report is a practical basis for further decisions on holding positions, reinvesting, diversifying or pursuing new opportunities.

2025 was an important milestone for InvestBay's portfolio.

For some of the projects, we today no longer work only with investment assumptions, but also with real operational data, actual payouts and the development of the market value of selected holiday properties.

InvestBay's portfolio today comprises 14 projects in 8 locations across 6 markets, from Czech Lipno and Slovak Tatralandia, through Croatia, Marbella, Mallorca and Tenerife, to Cape Verde and Bali.

Over 2025, investors in the operating projects were paid out EUR 37,600. The first quarter of 2026 followed up on this performance with further payouts of EUR 15,400.

The portfolio in numbers

• 14 projects across various phases of the life cycle

• 8 locations in Europe, the Mediterranean, the Atlantic and Indonesia

• 6 markets: the Czech Republic, Slovakia, Croatia, Spain, Cape Verde and Indonesia

• EUR 2.56 million total investment value of the portfolio

• EUR 37,600 paid out to investors for 2025

• EUR 15,400 paid out to investors for Q1 2026

• ~6.1 % p.a. top rental yield for 2025 at the Holiday Village Tatralandia project

• +30 % to +47 % highest capital growth at the Royal Marbella Golf Resort 2 project

Why not all projects can be assessed in the same way

InvestBay's portfolio is not homogeneous. The individual projects are in different phases of the life cycle, and that's precisely why it's important to assess them in the right context.

A stabilised income project that already regularly pays investors a share of the rental income has a different logic. A project before stabilisation, which is only ramping up to full operation, is assessed differently. And development plays an entirely different role, where the investor watches a longer horizon, the construction, the future operation and the potential for capital growth.

In the report we therefore distinguish five main categories:

• stabilised income projects,

• income projects before stabilisation,

• newly launched projects,

• development projects,

• projects in fundraising.

This breakdown helps investors better understand why some projects already generate cashflow, others rely more on capital growth, and still others form the portfolio's future growth pipeline.

Cashflow, capital growth and seasonality

2025 showed that the individual projects play different roles in the portfolio.

Holiday Village Tatralandia was the strongest cashflow project of the year. The payout for 2025 reached EUR 10,598, which corresponded to a yield of approximately 6.1 % p.a. of the purchase price. The project benefits from a combination of the winter ski season and summer holiday demand.

Royal Marbella Golf Resort 1 and 2 delivered a rental yield close to the original model, but their main contribution was capital appreciation. For Royal Marbella Golf Resort 2, the report states growth in value compared with the purchase price in the range of +30 % to +47 %.

Wyndham Tenerife generated a stable yield in 2025 and in Q1 2026 became the strongest project of the quarter. Unit 13D reached 100% occupancy in December, January and February, which confirms the strength of a destination with a year-round climate and foreign clientele.

At the same time, seasonality is crucial for holiday properties. While Tenerife and Tatralandia were already strong in the winter quarter, the Royal Marbella Golf Resort projects enter their main income period especially in Q2 and Q3. Similarly, the main summer season will be important for Mallorca, Lipno and Green Resort Zelena Punta.

What does this mean for your investment?

The portfolio's performance needs to be read in a broader context. One quarter on its own may not tell the whole story.

For some projects, the main contribution lies in the regular rental payouts. For others, capital growth in the value of the property may be more important. And for development projects, value is built gradually, through acquisition, construction, the launch of operation and the subsequent exit.

The investor report therefore does not serve merely as an overview of figures. It is a practical basis for deciding how to view your portfolio, where to watch cashflow, where capital growth and where future potential.

We assess the outlook for 2026 positively

The first quarter of 2026 confirmed the portfolio's continuing performance. Investors were paid out a total of EUR 15,400, with the strongest projects being Wyndham Tenerife and Holiday Village Tatralandia.

The outlook for the main season of 2026 is positive especially for the projects:

• Royal Marbella Golf Resort 1 + 2,

• Wyndham Portocolom Mallorca 1 + 2,

• Lakeside Village Lipno,

• Green Resort Zelena Punta.

Tenerife and Tatralandia, at the same time, confirm the ability to generate returns also outside the typical summer season. This is important for the portfolio, because it combines different seasonal profiles, locations and investment horizons.

Development projects: Cape Verde and Bali

InvestBay's portfolio also includes development projects in Cape Verde and Bali.

On Boa Vista, these are three apartments in the Tarafo Bay resort, financed in three tranches of 40 % / 40 % / 20 %. Currently, the first tranche of 40 % is financed for each apartment.

On Bali, the development part of the portfolio is made up of the projects Azoria Living Bali and Azoria Suluban Beach Resort Bali, both financed in two tranches of 50 % / 50 %.

These projects are not yet in the standard income phase, and that's why we do not state historical payouts for them for 2025. Their role in the portfolio is different: they bring a more long-term investment horizon, a connection to construction and the potential for future growth in value.

Currently open projects

The report also includes an overview of projects for which fundraising is currently continuing and to which investors can still join.

Wyndham Portocolom Mallorca 2

This seaside investment on Mallorca follows up on the first project, Wyndham Portocolom Mallorca. Fundraising is continuing for the second unit, the deposit has already been paid and investors can still join.

Main parameters:

• location: Mallorca, Spain,

• investment amount: EUR 222,800,

• horizon: 5 years,

• model exit: 08/2031,

• target IRR: 9.0 %,

• rental yield: 5 % guarantee.

Bali Element Residence

Bali Element Residence is the third Bali project in InvestBay's portfolio. The project combines a tropical destination, the long-term tourist potential of Bali and an investment horizon tied to completion and the launch of operation.

Main parameters:

• location: Bali, Indonesia,

• investment amount: EUR 149,811,

• horizon: 7 years,

• model exit: 05/2033,

• target IRR: 9–11 %,

• rental yield: 6–8 %,

• financing: two tranches of 50 % / 50 %, the first tranche is currently being raised.

The 2025 investor report provides a comprehensive view of the performance of InvestBay's portfolio, the payouts for 2025, the results for Q1 2026, the capital growth of selected projects, the seasonality of the individual destinations and the outlook for the period ahead.