€800-Million Innovation District Planned for Almada

The Innovation District is set to go up on the south bank of the Tagus river in Almada in an €800-million-euro investment.

According to a publication by the Universidade Nova de Lisboa, the institution has launched the Innovation District, a project aimed at creating a new global city in Almada. The idea is to combine a unique and sustainable lifestyle in an innovation and technological knowledge centre.

The development is planned for an area that reaches 399 hectares, of which 110 hectares will be set aside for parks and gardens. The university is forecasting a total investment of more than 800 million euros.  It is hoped that the new project will attract 4,500 new inhabitants to the city, create 1,000 new homes, and include 250,000 m2 for new businesses, potentially creating 17,000 new jobs. The development would also comprise 86,000 m2 of tourism-based infrastructure.

The project, which began in 2019, has the Almada City Council’s support and involves several owners and investors. The Innovation District will be erected in Monte da Caparica and Porto Brandão, which are known for their landscapes and unique natural conditions. Investors aim to create a new, modern city that will act as a hub for technological know-how brought in by Portuguese and international companies.

Based on the Live-work-play concept, the Innovation District will be a unique, compact, mixed-use city designed to boost its inhabitants’ quality of life. The designers envisage a sustainable development based on sustainable development in the years to 2030 and complete carbon neutrality by 2050 through innovative environmental solutions. The project is focused on creating a creative, diverse, energetic and sustainable community inspired by a better quality of life.

The Innovation District is betting on attracting highly-qualified professionals to boost urban development and transformation, with the NOVA School of Science and Technology | FCT NOVA as its central point. As a space for innovation, it aims to attract companies and people, promoting the Lisbon Metropolitan Area’s development and advancing its potential internationally.