Approval Granted for Major Lisbon Real Estate Development

VIC Properties, a leading Portuguese real estate developer, has received approval for the regeneration of Lisbon's former Matinha gasworks. This project, one of the largest residential-led mixed-use developments in Portugal, will cover 30 hectares and introduce approximately 2,000 new homes and 120,000 square meters of green spaces. Additionally, the plan includes 65,000 square meters of commercial space, a new school, and various entertainment venues.

Located between Parque das Nações and Marvila, the redevelopment aims to transform the abandoned industrial site into a vibrant, pedestrian-friendly neighborhood, reconnecting Lisbon to the River Tagus. The project, with a gross development value of around 2 billion euros, is expected to create over 3,000 direct jobs.

VIC Properties has been instrumental in the area's transformation over the past six years, building on its success with the Prata Riverside Village. This adjacent project, designed by Renzo Piano, is near completion and has already introduced 830 homes and extensive retail and leisure spaces to the area.