VIC Properties S.A. has acquired the Matinha plot, in the parish of Marvila, Lisbon.

With a land area of approximately 20 hectares and a total of 260.000 sqm of construction area above ground, VIC Properties plans to build more than 2000 new homes in this plot, in one of the most ambitious real estate projects in Portugal.

The company plans to start construction works in the beginning of 2020 and will develop the project over the next few years. The Matinha project will include several leisure facilities, as well as a number of several lifestyle and convenience services that will transform this part of the city into a space of excellence to those that live, work or visit the area. As in Prata Riverside Village, a project already underway and under the responsibility of VIC Properties, the goal is to create an integrated space that enhances quality of life and provides a unique lifestyle experience.

With this acquisition and taking into account the ongoing construction of the Parque Ribeirinho Oriente, the Matinha project will connect Parque das Nações to Prata Riverside Village, pursuing its mission to rejuvenate a part of the city that has long been overlooked. Lisbon will acquire a new leisure area by the river, to be enjoyed by the general community. According to João Cabaça, co-CEO of VIC Properties:

“(…) this project is a needed response to the lack of new build construction in Portugal, a problem that has had an even greater impact on the city of Lisbon“.

With the Matinha project, together with Prata Riverside Village, VIC Properties will provide more than 2700 new homes to the Portuguese market. Luís Gamboa, COO of VIC Properties, also emphasises that VIC Properties gives the highest priority to environmental sustainability measures, ensuring a high level of public and environmental health standards.