Property company RE Capital has obtained planning permission for its €110 mln GDV, 130-home Marvila I Project in Lisbon.
Marvila I is the redevelopment of a historic building and a former winery warehouse with 130 high-quality residential units and one retail unit in one of Lisbon’s fastest-growing areas, close to the river and the future Beato Creative Hub.
Demolition is due to start in Q4 2023 with construction set for 2024.
John Neto Valente, head of Investments at RE Capital, said: 'We are incredibly excited to start with the regeneration of the Marvila neighbourhood. This is a very important milestone for Marvila, as it will positively impact the area – attracting younger generations and additional footfall for local businesses.'