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IFRRU Has Already Financed €231m in Investments in Urban Rehabilitation

17 May 2018

The Urban Rehabilitation and Revitalisation Financial Instrument (IFRRU) 2020 has already received 74 applications, resulting in seven signed financing contracts worth €231 million in investments, the fund’s management structure reported today.

In addition to the seven signed contracts, IFRRU 2020 has 482 projects in its pipeline, i.e., in the evaluation phase, corresponding to a total potential investment of €1.487 billion, according to data from November to the end of April this year.

According to information provided by IFRRU 2020’s management structure, three of the signed financing contracts are for projects located in the Autonomous Region of Madeira and the remaining four are distributed between the Northern, Lisbon, Alentejo and Algarve regions.

Created within the scope of Portugal 2020, IFRRU 2020 is aimed at “contributing to the revitalisation of cities and the integral rehabilitation of buildings. The fund as a particular focus on energy efficiency, providing loans with more favourable conditions compared to (interest rates, maturities and grace periods) those in the open market.” The fund has a total of €1.4 billion to invest.

The public can access detailed information regarding the IFRRU 2020 on the Housing Portal (www.portaldahabitacao.pt). Of special note, they can also review the schedule of presentations of financing opportunities.

As part of the government’s policies to stimulate urban rehabilitation in Portugal, IFRRU 2020 ’s management structure entered into a closed partnership with the Portuguese Agency for Foreign Investment and Trade (AICEP), with the aim of internationalising the instrument, particularly Portuguese emigrants.

Original Story: Diário Imobiliário

Translation: Richard Turner