AIP Foundation and SIL Strategic Council award Prata Riverside Village Best Real Estate Development in the Dwelling category

Lisbon, October 10, 2019. Prata Riverside Village, a project undertaken by VIC Properties SA (“VIC Properties”), has been awarded the Real Estate Development Prize in the Dwelling category​​ within the framework of the SIL Real Estate Awards 2019.

The decision to award this prize to Prata Riverside Village was made unanimously by the AIP Foundation and the SIL Strategic Council, a working group awarding the SIL Real Estate Prize in a number of categories, stating the contribution to this particular development for the real estate sector in Portugal as this is the only project signed in Portugal by architect Renzo Piano, Pritzker Prize winner.

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Prata Riverside Village is already one of the most iconic works in the Portuguese architectural scene. This project established a new central axis in Lisbon, building a “small village by the river” in the natural continuation of Parque das Nações, crowned by a Riverside Garden in the Oriental region of Lisbon and enjoying a unique link to the Tagus River.

This “village” will rely on several shops, restaurants, galleries, along with bicycle lanes and playgrounds, catering for the needs of the resident community and attracting visitors from other Lisbon neighbourhoods. With Prata Riverside Village, a living and open community is born, requalifying an area of the city that has been abandoned for decades. This becomes even more relevant considering that the centre of Lisbon is currently going through a period of huge real estate and tourist pressure, thus forcing its inhabitants to look for other alternatives in the other parts of the city and surrounding areas.

“It’s a huge pleasure for us to see Prata Riverside Village being awarded best real estate development, thus acknowledging the quality and innovation of the first major ‘author project’ in Lisbon, designed to get the most from an unparalleled relationship with the river and surrounding green area, ”said João Cabaça, CEO of VIC Properties.

“With foundations in the past and the eyes set on the future, this project represents the best that Lisbon has to offer, inspiring a new way of enjoying the city”.

Prata Riverside Village development consists of 12 plots of land which will accommodate dwellings, shops, offices and assorted equipment. After the completion of plot 8, the first to be built, VIC Properties should complete building and construction on plot 7 by July 2020 and start the construction of plot 1 this year still. The project, with approximately 128 thousand m2 of building area, of which more than 102 thousand m2 allocated for dwelling purposes, should be completed in 2023.