Fundação Âncora is a Portuguese nonprofit foundation in constitution, headquartered in Lisbon and focused on developing permanently affordable rental housing for the professional middle class. 34 Its stated purpose is to create housing stock for people who are essential to the functioning of cities but cannot afford to live in them, including workers whose incomes are above the threshold for social housing but insufficient for much of the private rental market. 14
The organisation was founded in 2026, with Pedro Sarmento identified as founder, president and executive director. 913 Its model combines the foundation’s own capital, Social Impact Notes and a network of locally based “Faróis” — partner entities operating under framework agreements. 31 Municipalities, social-sector organisations, private investors and property-sector participants are intended to contribute land, buildings, financing or operational capacity. 56
A central principle is that homes entering the Âncora system should not be sold speculatively: assets owned by the foundation are to be protected through statutory provisions, while assets held by partner Faróis are covered by contractual restrictions. 16 Rents are calculated with reference to actual operating and maintenance costs rather than prevailing market prices, and operating surpluses are reinvested in the housing system. 111
The organisation’s initial programme is being structured around approximately €200 million over five years, with a target of about 1,000 homes to be built or rehabilitated across as many as seven municipalities. 68 The programme’s first contracts are expected in the fourth quarter of 2026, but the foundation states that it does not yet have housing units. 612 Its geographic scope is national: the intended system is designed for Portugal, while implementation is expected to begin through local municipal and community partnerships. 16