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Ritz Galleries to Be Converted into Offices in €15MM Investment

29 April 2019 – Richard D. K. Turner

Since the end of last year, the former Ritz Galleries in Lisbon has been undergoing conversion into offices in a 15-million-euro investment. The renovations, which are expected to last until June of next year, will maintain the building’s exterior, while completely redeveloping the rest.

Vítor Paranhos Pereira, CEO of the Real Estate and Hotel areas of the Sodim Group, stated that they intend to create high-quality office spaces while adding a hotel, renovating the former Monumental Snack Bar and increasing available parking. The 2,300-m2 property is currently divided into three floors, and the company will add an additional underground floor for parking.

Original Story: Economia Online – Ana Raquel Damas

Translation/Summary: Richard D. Turner