26 April 2019 – Richard D. K. Turner
Baía do Tejo will present the project for the sale of Lisnave’s former lands on May 14. Parpública will grant the asset, in the industrial area of Margueira, in Almada, under concession for the development of housing, commerce, services, cultural areas and maritime buildings, including a passenger terminal and marina.
The Baía do Tejo Group is a subsidiary of Parpública and is the result of the merger of Quimiparque, SNESGFES and Urbindústria in Seixal. The land in question has an estimated construction area of 630,246 square meters. Projects for the land include the Cidade da Agua development (Water City) and a new hotel, a museum and a congress centre.
The Baía do Tejo Group is expected to cover any costs associated with dismantling any existing structures and any environmental liabilities.
Original Story: Dinheiro Vivo – Ana Margarida Pinheiro
Translation/Summary: Richard D. Turner