The Cidade da Água project

THE CIDADE DA ÁGUA PROJECT

Tuesday saw the presentation in Almada of a new real estate project in Lisbon, considered to be the biggest urban renewal project in the country since Expo 98.

On the land of Lisnave, the project of the "Cidade da Água"In addition, a marina, a river terminal, a new hotel, a museum and a conference centre are planned.

The estimated construction area of the project is 630,246 square metres.

According to Sérgio Saraiva, Baía do Tejo administrator, the property developer will have to meet a number of obligations, including the cost of building infrastructure, the construction of the marina and the construction of the river terminal.

The Baía do Tejo will also cover the costs of dismantling existing structures, as well as environmental liability.

The presentation on Tuesday was attended by around a hundred people, including Portuguese and foreign business groups. The aim of the meeting was to attract potential new investors to develop the project.