Reinaldo Teixeira

He loves Portugal, but he has an even greater passion for the region he was born in: the Algarve. Known as the CEO of Garvetur, the anchor company of Enolagest, one of the country’s most important tourism and real estate companies, Reinaldo has a professional career spanning 40 years. His working life has brought him multiple positions and experiences that have made him one of the biggest players in the current real estate market of the Algarve. His reputation is impressive, both in business and in sport. A member of the Algarve Football Association, he plays in two leagues: the one in the Algarve and the one run by Garvetur (Enolagest). Welcome to the business world of Reinaldo Teixeira. 

As the CEO of Garvetur, what have been the most difficult decisions you’ve had to make since you took up your role?
Garvetur’s history is inextricably linked to the development of the tourism industry in Portugal and, in particular, in the Algarve. As such, the most difficult decisions to make have been those that have been required to keep up with the profound changes that have taken place in our country and in the world, in social and economic terms. It is important to note that difficult decisions should not be viewed negatively, but rather as windows of opportunity to which entrepreneurs need to respond. For instance, it is essential to know how to act at the right time. Proof of this was the strategic decision I made to develop the Garvetur Luxury brand in 2021, at a challenging time, in which the Algarve, the country and the world still find themselves. To be successful, it has been necessary to anticipate the trend for demand from emerging markets.  

Tell us about the group’s commitment to diversifying its activities and markets.
In creating synergies between the 41 group companies, Enolagest S.A. ensures the provision of consultancy and services to the entire real estate gamut of investment, mediation, purchase, sale, construction, renovation, maintenance, repair, interior decoration of interiors and outdoor space, as well as property management, insurance and car rental and cars sales. The group has also diversified its activities into the fields of human resources education, training and management.
Throughout the years, we have invested in a network of our own offices, covering the nation, in Lisbon, Fundão, Oporto, the North and most cities in the Algarve, emphasising a sense of being local. We have also created a partnership network that currently guarantees us an active presence throughout Europe, the United States of America, Brazil, South Africa and China (Macau). We are proud to see that the number of clients in the different fields and segments is increasing year on year, particularly in the premium market, and that many of our first clients are still with us.

«Many of our first clients are still with us» 

Innovation, technology and training. Is this the essential trio for a company’s survival and development?
I agree with this statement, but if we want companies to survive and make an effective contribution to the economy’s development, I would add a few more requirements. These include good communication, reduction of costs and meticulous project management. An essential factor is the ability to learn from one’s mistakes, without this diminishing the self-confidence needed to encourage teams. 

What are the biggest challenges for a Portuguese entrepreneur?
They will vary, depending on the role and the activity sector. However, there is one common challenge: operating in a global market. By this I mean not only being present, but also maximising competitiveness factors. Using a maritime analogy that is so popular in the Algarve, you will have to sail into the wind in rough waters or, in other words, to be creative in defining efficient management strategies in order to respond to the situation at any given moment, namely the increase in financing costs, the possible reduction in demand associated with price instability and the increase in global risks, which have already been felt this year and are predicted for the coming years.
As far as the holiday and residential property and tourism sector is concerned, it is possible to overcome the challenges, but this requires resilience, agility and strategy. Leading companies to competitiveness in a global market means optimising strategies, improving financial management skills and expanding the network of partnerships that enable gains in scale. On the other hand, innovation is one of the basic premises for growth in a border-free and increasingly competitive environment.
The companies in the Garvetur (Enolagest) group challenge themselves to progress on a daily basis, but the importance of a stable fiscal policy that attracts investment cannot be ignored in this sector. This is the only way to attract revenue. It is worth nothing that, in the context of the housing crisis, the group defends the need to develop responses, and in fact believes that there should be permanent monitoring and planning of the requirements, so that the deficit that we are seeing now doesn’t happen, as this is causing pain for families and companies, hindering the mobility of staff and the commitment to innovation and talent retention. 

What are your expectations for 2024?
Without losing sight of the fact that the focus of our companies is tailoring services to each client, we will have to continue to increase investment in digital transformation and in the incorporation of sustainability principles into business models, with a view to increasing competitiveness on a national and international scale.
This is clearly demonstrated by the assets we have for sale, with properties on the Costa Verde (Oeste area), the Douro and the Minho, but also in Brazil, in addition to the cities of Lisbon and Oporto, which complement the offer in the Algarve.
The real estate sector, especially when it is geared towards tourism, is a comparative market, in which clients assess the location in which they are going to invest. In Portugal, for example, the safe attractions are the mild climate, the friendliness of the people and security. Other preferences are now emerging, such as easy accessibility and environmental care, whether in the surroundings or in the buildings. While in the luxury sector, calm and privacy have been added. Portugal, particularly the Algarve, as an internationally recognised brand, can be a turntable for investment from emerging markets in European tourism. Being competitive and achieving high performance standards is the goal in 2024.