The three lots corresponding to Feira Popular’s area were sold for 238.5 million euro (83.1, 46.6 and 67.1 million euro), 85 million euro more than the 180 million the Municipality of Lisbon had anticipated. Another lot, outside Feira Popular included in the Entrecampos Integrated Operation was also purchased for 35.4 million euro. In total, the Municipality collected 273.9 million euro, according to DN.

In a release, Fidelidade explains that it was awarded through a public auction which took place this Wednesday «all the lots that made up the old Feira Popular, which will allow it not only to boost the construction of the group’s new headquarters in Lisbon, but also to take part in a real estate project which is truly innovative and transformative for the city, which will define a new centrality, with added value and international visibility».

It is a project which includes offices, commerce, services and housing, to be raised in the terrains which belonged to the municipality. For Fidelidade, «it will certainly mean a joint venture with other investors and partners, who along with Fidelidade, will make this enterprise an icon of our city».

It further adds that «this real estate investment is one step further towards the process of reorganising the company’s real estate portfolio, which reasserts in this way its continuous commitment to Portugal, underlining its position as a great investor in our country and particularly in Lisbon, in a market which currently has very little offer», concludes the insurance company.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!