8 October 2019 – At least 33 major public and private projects are planned for metropolitan Lisbon over the next decade, involving a total investment of some 3 billion euros. The new projects include urban parks, squares, new tram lines, marinas, research centres, museums, monuments, new and renovated housing, stores, office parks, hotels, congress centres and start-up hubs. Lisbon’s riverfront will be thoroughly reshaped by the construction.
Some of the new developments include the Ocean Campus Portugal, between Pedrouços and Cruz Quebrada, in Oeiras and a new project for World Youth Day 2022, between Parque das Nações and Bobadela, in Loures, for the upcoming Papal visit.
The following are some of the projects planned for the coming decade:
- Cancer research and treatment facility
A €100-million cancer treatment and research facility is planned for the riverside area in Bobadela, in Loures. The new facility is expected to attract doctors, scientists, students, technicians and other highly-qualified professionals. The project also includes a residential development and an urban park, open to the public.
- World Youth Day 2022
The Catholic Pope is set to visit Lisbon, in an event that is expected to attract 1.5-2 million visitors. The municipal government will prepare the site, which is between Parque das Nações and Bobadela. After the event, the site will be transformed into an immense urban park, with a bridge over the Trancão river and a bicycle and pedestrian path connecting Loures to Lisbon.
- Exeo Office Campus
A huge office park with enough space for 7,000 professionals will be built near the Gare do Oriente, in Parque das Nações. A total of €150 million will be invested in the development and completion is planned for 2021.
- Martinhal Residences
The Martinhal group will invest €130 million to build the new headquarters of the insurance group Aegeas (ready in 2020), along with the Martinhal Residences, a luxury residential complex with 150 flats and a hotel in Parque das Nações.
VIC Properties, which is developing the Prata Riverside Village, has already announced that it would build another 2,000 flats in Matinha, Marvila, on the grounds of a former petrochemical facility. The new development will also include a hotel, stores and offices, along with an expansion of the East Riverside Park.
- Prata Riverside Village
The Prata Riverside Village is a large luxury residential complex under development in Braço de Prata, where VIC will invest a total of €450 million in 700 flats.
- Beato Creative Hub 1
Nineteen buildings on the southern wing of the former Military Maintenance grounds, next to Avenida Infante D. Henrique, are being transformed into a 50,000-m2 area to house technology firms, startups, cultural activities, a museum, creative industries and restaurants. Total investments are expected to reach €55 million.
- Lisbon Congress Center
The Hotel Hyatt Regency Lisbon, which involves an investment of € 70 million, will be completed by 2020. The 5-star hotel will have 200 rooms and an events space.
Original Story: Economia Online
- Alberto Teixeira
Adaptation/Translation: Richard D. K. Turner