New €300 million project will change the riverfront between Lisbon and Oeiras

Fri 2 Aug 2019

The area between Pedrouços and Cruz Quebrada, totalling 64 hectares, will gain a new real estate developmentthat includes marina, offices, research centres, a hotel and a restaurant area.

By 2030, the Government, together with the private sector, will invest 300 million euros to requalify the Lisbon riverside area between Pedrouços and Cruz Quebrada.

The future Ocean Campus will have a marina, business and research centre spaces, restaurants and even a hotel.

During the presentation of the project, Isaltino Morais, mayor of Oeiras, also announced the requalification of the beaches of Algés and Cruz Quebrada.

The project is being branded as the "new Expo" (a title currently given to Lisbon real estate pinnacle – Parque das Nações) on the western part of the capital.

Ocean Campus has a total area of 64 hectares and will bring a new life to the waterfront between Lisbon and Oeiras.

Most of the investment will be made by the private sector (219 million euros), 25% will be public-private (76 million euros), while the state will fit 2% of the investment, corresponding to five million euros.

The requalification works will happen in three phases: 

The first stage, which will cost 117.9 million euros and should be completed in 2022 will comprise laboratories of the Portuguese Institute of Sea and Atmosphere (IPMA), temporary residences for researchers and research centres, restaurants, offices and the future Marina de Pedrouços, whose competition was also launched this Monday.

In a second phase, budgeted at EUR 152.2 million and due by 2026, the Marina do Jamor, a hotel, business spaces, new research centres and the Blue Business School will be built.

Finally, the third and final stage will cost 30 million and will consist of minor external and accessibility works, which should be completed by 2030.

The idea of the Government is to create an international Research, Development and Innovation campus for activities related to the sea, as well as ‘aggregate, under the theme of the sea, various public services and institutions, university centres and research laboratories.’

In addition, it is also intended to “create an embryo zone of startups, meeting rooms, auditorium and exhibition areas”, betting on the rehabilitation of the Dock of Pedrouços and the Docapesca warehouses.

Read the full article in Portuguese here.

 

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