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“Water City” Eyed by Two Portuguese Consortia
24 January 2018
The sales price for Lisnave’s land was not disclosed, but it is expected to exceed 50 million euros.
The mega-real estate project that is being envisaged for the former lands of Lisnave, in Margueira, in Almada, has five interested investors, including two consortia of Portuguese companies, the president of the Baía do Tejo, which is controlled by the state-owned Parpública, said Wednesday.
Jacinto Guilherme Pereira added that besides the Portuguese, three foreign groups of investors had given a “formal manifestation of interest” in the project. Those groups are of British, American and Chinese origin.
The executive also said that a public tender for the sale of the land should be launched by the end of the first semester of 2018, or just after, as the land registry of Lisnave’s 53 hectares of area is being completed.
The specifications that Baia do Tejo and Parpública are drafting imposes the condition that the buyer of the lands in Margueira finalise the so-called “Water City” project within 10 to 15 years.
The planned investments for the construction of the project’s infrastructure are believed to be between 1 to 1.5 billion euros.
Original Story: Público – Francisco Alves Rito
Photo: Nuno Ferreira Santos
Translation: Richard Turner