A promotora or developer is a company or individual that builds residential or commercial buildings with the aim of selling or renting them out. The developer manages the entire process—from purchasing the land, designing and planning the project, hiring the construction company, to marketing and delivering the finished properties.
If you purchase an off-plan property, you’ll deal directly with the developer, so it’s essential to ensure they are trustworthy. It is advisable to research their track record of completed projects, read reviews from previous clients, check whether they provide bank guarantees, and verify that they have all the necessary planning and construction permits in place.
