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Portuguese Government Plans to Sell Almada Nascente for €2MM
6 March 2019
The Portuguese state is considering plans to sell the Cidade da Água – Almada Nascente, Margueira for two million euros. The project, which is managed by Baía do Tejo, a state-owned firm, has attracted the interest of a number of foreign investors even has doubts have surfaced regarding the sales prices since the project will still face elevated costs with infrastructure and development.
The Cidade da Água – Almada Nascente, along with Quimiparque, in Barreiro, and Siderurgia, in Seixal, consist of industrial areas included in the Arco Ribeirinho Sul project, whereby the government is looking to redevelop the region, planning hotels, offices, shops, cultural venues, a marina and an intermodal river terminal. Baía do Tejo, which is owned by Parpública, is in charge of developing plans for the area, called Lisbon South Bay.
Original Story: Publituris
Summary / Translation: Richard Turner