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Eight Additional Properties to be Added to the Revive Program by the End of the Year

23 April 2018

The Portuguese government intends to place a further eight real estate projects in the Revive program by the end of the year, Economy Minister Manuel Caldeira Cabral said today, calling this project “complex” due to its involvement.

The Revive program, launched in 2016 by the Finance, Culture and Economy Ministries, plans to grant concessions for 30 state-owned properties to private investors, with the commitment that they will be rehabilitated. Currently, three properties are the tender phase and others have already been granted to concessionaires.

“At the moment, dozens of these buildings are in an advanced stage of analysis. We already have six that are either in the public tender phase or have been concluded, with construction beginning. We are planning to place another eight [properties] under public tender, after coordinating the process among the various ministries,” he stated.

Manuel Caldeira Cabral, who believes that the process surrounding the Revive program is “complex,” spoke to journalists at the end of the inaugural ceremony of the Coudelaria de Alter (Alter Stud Farm) concession in Alter do Chão, Portalegre. The concession will see parts of the property transformed into a hotel.

“These processes (until the final concessions) take time, but they have to have firm steps. In the case of Alter, we are talking about a process that has been going on for 30 years, which is how long people have been talking about building a hotel there. That idea will finally become a reality with the opening of this public tender,” he said.

According to the Minister of the Economy, there may be an investment of “five to ten million euros” in the Coudelaria de Alter, for a “50 to 80-room” hotel.

Minister Cabral revealed that “there have already been several expressions of interest” on the part of private investors for the concession, and the winner of the public tender will be announced during the month of July.

The Minister believes that the stud farm project “can be a centre of attraction”, not just for the region, but for “the whole country,” emphasising that “it can spur regional development.”

“The opening of the hotel will spur job creation, bring more tourists to the region of Alentejo, which is already one of the regions in which tourism is growing the most in the country,” he added.

The Minister of Agriculture, Capoulas Santos, was present at the ceremony in Alter do Chão. In remarks to journalists, the Minister stated that this type of initiative also contributes to the development of the rural regions.

“Developing rural [Portugal] creates jobs, and creates the conditions for local inhabitants to stay in the area. Fortunately, at the moment [Portugal] is experiencing a tourist boom, which allows us to be very optimistic,” he said.

The Minister of Planning and Infrastructure, Pedro Marques, also attended the ceremony and, in his speech, stated that the moment is “remarkable” for the country.

“This is a project that is not just for Alter, nor even for the district of Portalegre. This project is strategic for tourism and Portuguese culture, and you have to keep this in mind,” he said.

The management of the stud farm, which employs around 30 people, was transferred to the Alter Real Foundation (FAR) in March 2007 within the scope of the State Central Administration Restructuring Program, after the extinction of the National Stud Service.

After the extinction of the FAR in August 2013, the Companhia das Lezírias took over the management of the stud farm, with the management of the Molecular Genetics Laboratory belonging to the Directorate General of Food and Veterinary Affairs.

The Alter do Chão Stud Farm, founded in 1748 by D. João V, is currently carrying out work on the selection and improvement of Lusitano horses and has a clinical unit equipped with all the means to medically treat and follow up on the horses.

Original Story: PressTUR / Agência Lusa

Translation: Richard Turner