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Lisbon South Bay Makes a Splash at MIPIM: “Water City” to be Delivered to a Developer by 2019
16 March 2018
The company Baía do Tejo (BT) remains committed to marketing the former industrial areas in Barreiro, Seixal and Almada. This time, BT took Lisbon South Bay to Cannes, France, for the MIPIM, the largest international real estate fair in the world. Their goal is a simple one: to attract investors. “Water City”, BT’s flagship development in its international marketing efforts, will be handed over to a developer in 2019.
The Lisbon South Bay brand was created in 2014 by the state-owned company BT to rehabilitate the former industrial areas of Quimiparque, Barreiro, Siderurgia, Seixal, and Margueira, in Almada, in conjunction with three local municipalities, all of which are attending MIPIM, which ended Friday (March 16).
“Creating a partnership between a state-owned company, BT, and three municipalities is unheard of in the country. The collaboration emerged following the fairly obvious conclusion that we should all be working on the same side,” the chairman of BT’s board, Jacinto Pereira, stated to the Lusa news agency.
In addition to seeking investments in the old industrial areas, the mayors of the three municipalities except to attend other meetings to establish contacts to address other existing projects in their districts.
“Through the Lisbon South Bay brand, we have increased our scale, raising our visibility and our capacity for marketing our efforts. It seems like an obvious choice, but it is not something that has been done much before. We managed to reach an understanding to accommodate all,” Mr Pereira explained.
Frederico Rosa, the mayor of Barreiro, also stressed the importance of the project’s name, Lisbon South Bay, as it “unifies the three territories on the south bank [of the Tagus river].” Jorge Gonçalves, deputy mayor of Seixal, stated that he believes that including Lisbon in the name had “strengthened the project and its impact abroad.”
“Water City” to be delivered to a developer by 2019
Meanwhile, the requalification project of the former industrial area of Margueira, in Almada, known as the Cidade da Água, or Water City, will be delivered to a developer by the end of the first quarter of 2019, Mr Pereira guaranteed. “We have made many promising contacts here, and investors have been interested in this project for some time. There is now growing interest in the project, as the conditions are in place to move ahead,” the executive stated to Lusa.
Original Story: Idealista
Photo: Wikimedia Commons
Translation: Richard Turner