Lisbon – an open gate to private capital

In just a few decades Portugal has gone from the turbulent, unstable and chaotic country of the 1970s to the increasingly popular destination for tourists and investors alike of today.

And in the space of just 10 years Portugal’s property market has changed radically, attracting private capital from all over the world.

Recognizing this role, local authorities like Lisbon City Council say they are willing to work more and closer with the sector and capitalize on the great development opportunities that are now opening up.

Growth has been strong and is real, making Lisbon consistently attractive for investors which have channelled billions of euros in private capital to the city through property.

But, even though there are still great opportunities; the various stakeholders in Portugal with a vested interest in keeping Portugal attractive for investment have their work cut out to ensure this continues in order to fuel growth and here local authorities can play a central role in resolving current challenges.

The Portuguese Investment Conference rounded out the series of conferences and seminars that made up the MIPIM programme at the annual international property fair that takes place in Cannes.

The conference came at a time when mayors and investors have been aligning their strategies to continue channeling investment into a new urban cycle.

The conference was organized by Iberian Property and the Portuguese Association of Real Estate Developers and Investors (APPII) and was attended by more than a hundred professionals in the audience.

The Mayor of Lisbon, Carlos Moedas said that Lisbon’s downtown ‘Baixa’ area was a “clear example of how real estate investment can change a city”.

And the mayor could equally have said the same for any number of urban regeneration projects seen in Portugal’s capital in recent years from Principe Real and Entrecampos to upmarket residential areas such as Marvila.

“When people tell me today that the area has been completely transformed, I say yes! Thank goodness it is no longer a deserted, abandoned and lifeless area. And if today that entire area is vibrant, we owe it to the real estate investors who accepted the challenge of investing their capital there,” said the mayor.

The Lisbon mayor said that “making our vision of the future for Lisbon a reality” implied being able to reconcile public and private strategies and of all those who invest in it, live in it and visit it”,

Carlos Moedas recalled that the city’s recent success also posed new challenges.

“When a city like Lisbon reaches a pole position of international prominence, the most difficult thing is to maintain that position and continue to grow”.

In this context, the mayor highlighted the importance of balancing economic interests with social concerns for the sake of social cohesion, as that this was the only way to avoid the pressures arising from urban development “and ensure that everyone who comes to us continues to feel good, welcomed and safe”.

Source: Article inspired by Vida Imobiliária; Credits: Vida Imobiliária