Prata Riverside Village wins the 2019 SIL Property Award for Best Real Estate Development
Prata Riverside Village, developed by VIC Properties S.A. (“VIC Properties”), has just been recognized as the “Best Real Estate Development – Housing Category” in the SIL Property Awards 2019, the most important distinction of its kind on the Portuguese real estate market.
The award was decided by the AIP Foundation and the SIL Strategic Council, the independent working group responsible for evaluating merit and granting these prizes. The distinction highlighted the contribution of Prata Riverside Village to the development of the real estate sector in Portugal, not only due to its architectural and urbanistic quality, but also due to its ambition, as it focuses on “giving back to the city” a whole new premium waterfront area.
The only project in Portugal signed by the Pritzker Prize winner Renzo Piano, Prata Riverside Village is already one of the most iconic buildings in the Lisbon architectural landscape. Crowned by the new waterfront public park and enjoying a one-of-a-kind frontline connection to the Tagus river, the project creates a new centrality in the Portuguese capital, naturally adding a lively “riverfront village” between the city center and the highly sought-after Parque das Nações, the city’s newest major business and leisure district.
Prata Riverside Village requalifies a waterfront area of the city that had been forgotten in the last two decades. This is highly relevant since the center of Lisbon is experiencing a period of great real estate demand and tourist pressure, leading its inhabitants and incoming owners and investors to look for other alternatives within the city. This “riverside village” will thus be focused on “quality of life a few minutes away from the center”, featuring its own shops, restaurants, galleries, bike lanes, and playgrounds, among many other amenities, serving not only the resident community but also attracting visitors from other neighborhoods. João Cabaça, VIC Properties” CEO, refers the project represents the very best of what Lisbon has to offer, inspiring a new way of living the city:
“We are delighted to see Prata Riverside Village receive the distinction of best real estate development, a recognition of quality and innovation from what is the first major ‘author project’ in Lisbon.”
Prata Riverside Village encompasses 12 plots, with residential, commercial, and retail facilities, as well as other varied equipment and amenities. After the completion of plot 8, already built and fully sold, VIC Properties will finish plot 7 by July 2020 and start building plot 1 very soon. The whole project, featuring about 128,000 sqm of construction space, is set to be fully completed by 2023.