Lisbon, 25 June 2019 . VIC Properties SA (“VIC Properties”) has just bought the Matinha grounds through public deed, in the parish of Marvila, Lisbon.

With an area of approximately 20 hectares, with a total estimated 260 thousand m2 of construction area, VIC Properties plans to build more than two thousand new homes on this land, in what will be one of the biggest real estate projects of this century in Portugal.

The company estimates that the works will start in early 2020 and should continue in the following years. Throughout this area, several infrastructures dedicated to leisure and services will be created that will transform this part of the city into an area of excellence to live, work or simply to visit. Just like Prata Riverside Village, a project already underway and undertaken by VIC Properties, the goal is to create an integrated area focused exclusively on people and their quality of life.

With this acquisition, and taking into account the construction of the Orient Riverside Park, currently underway, VIC Properties will be able to link Parque das Nações to Prata Riverside Village, continuing its mission of requalifying a part of the city that had long been stagnant. Lisbon will thus have a new leisure area, which can now be enjoyed by the community in general.

For João Cabaça, co-CEO of VIC Properties, “this venture is also a means of responding to the scarcity of new dwellings in Portugal, a problem that is affecting particularly the city of Lisbon.”

With the Matinha project, together with Prata Riverside Village, VIC Properties will placemore than 2700 new homes on the market.

Luís Gamboa, COO of VIC Properties, also stresses that “with the ambition of being a promoter of reference, VIC Properties will give priority to environmental sustainability measures, start as soon as possible with decontamination works of the soils of Matinha’s lands, recovering them and ensuring the right level of protection of public and environmental health”.