20 January 2020 – Norfin announced that it would invest 200 million euros to build the new Metropolis development in Lisbon. The firm had previously acquired the project from the Multi Corporation. The real estate manager, a subsidiary of the Arrow Global Group, intends to build a more than 80,000-m2 mixed-use development in the area of Alvalade.
The development, on the grounds of the former stadium, will include four new class-A office buildings, with a total of 37,600 m2, three apartment blocks with 30,250 m2 and more than 200 flats. The area will have house 11,100 m2 of stores and services, with construction set to begin at the end of the year.
Original Story: Jornal Econômico – Rodolfo Alexandre Reis
Translation/Summary: Richard D. Turner