DNPI / Project journal
DNPI project journal: Sitges and Compte de Urgel
What was done in the completed projects, which amounts have been published and which data is still missing. An undisclosed item is not treated as zero.
Updated 26 October 2026 · Data supplied by DNPI Capital, not independently audited
Publisher: DNPI CAPITAL S.L. · registry details and responsibility
How to read the journal
The journal shows each project's stages and the amounts DNPI Capital has published. Every row states what is known and what is missing. Stage dates, the full cost breakdown, taxes, financing and the fee have not been published for these projects, so net profit, ROI and IRR are not calculated here.
Past project results do not guarantee future results.
Sitges: land with a licence
Strategy: buy a plot, obtain the permits and licence, and sell the plot with the licence in place.
| Stage | What was done | Amount | What is missing |
|---|---|---|---|
| Purchase | A plot in Sitges was bought | €509,250 | Purchase date, taxes and completion costs |
| Permits | Permits and licence obtained | €20,000 in direct costs | Stage timing, cost breakdown |
| Sale | The plot was sold with the licence | €760,000 | Sale date, taxes and selling costs |
| Duration | 2 years, as stated by DNPI | — | Exact start and end dates |
The sale price less the purchase price and direct costs is €230,750. That is a balance before taxes, completion, holding, financing costs and fees, not a profit.
The licence belongs to this completed project, not to any current plot. More: project page and blog case study.
Compte de Urgel: apartment, renovation and sale
Strategy: buy an apartment in the Eixample, renovate it and sell it.
| Stage | What was done | Amount | What is missing |
|---|---|---|---|
| Purchase | An apartment on Compte de Urgel was bought | €410,000 | Purchase date, taxes and completion costs |
| Renovation | The renovation was carried out | €76,230 | Initial budget, overruns, works timeline |
| Sale | The apartment was sold | €720,000 | Sale date, taxes and selling costs |
| Duration | Not disclosed | — | Dates of every stage; without them no annual return is calculated |
The sale price less the purchase price and renovation is €233,770. This is also a balance before other costs, not a profit. More: project page and blog case study.
Not disclosed for either project
- Purchase and sale taxes.
- Notary, land registry and fees.
- Holding costs: IBI property tax, utilities, insurance.
- Financing, if any.
- The fee actually charged.
How these items enter the full calculation is explained in the methodology.
Journal for new projects
For new projects DNPI plans to keep the journal in the same columns from day one: the date and amount of each stage, budget versus actual by line, overruns and their causes, and progress photos. The investor sees this data in the investor's digital office as the project runs; the public version is published once the project is completed.
How we work with investors is described in How we work with investors.
Frequently asked questions
Why does the journal not calculate a return?
A return needs the dates of every cash flow, taxes, holding and selling costs and the fee actually charged. That data has not been published, so the journal shows only the published amounts and the arithmetic balance before other costs.
Are the figures audited?
No. The amounts are supplied by DNPI Capital. They match across the project pages, the blog and this journal, but there has been no independent audit.
Will there be a journal for current projects?
Yes, in the same columns. The investor receives the data in the investor’s digital office while works are under way, and the public version is published at completion.
