The bank gave an exclusive mandate to the consultancy to sell a substantial set of plots of land in the centre of Amadora. The land, totalling 111 hectares, 38 hectares of which correspond to urban freehold and developable area, may allow, given the current local zoning laws, approximately 250,000m² of above-ground construction area.
The asset is located close to the Amadora city centre and follows the parish of Mina from the railway line to the neighbourhood of Moinhos da Funcheira. Millennium bcp is working with the municipality of Amadora to define sub-units with distinct characteristics for the development of mainly medium and high-density residential projects in what will be the most important pocket of residential development for the middle class in Greater Lisbon in the coming years. The projects will also have to include retail and services spaces as well as green and leisure spaces.
According to a statement by Cushman & Wakefield, “The property possesses an unmatched development potential, which could become the future location of an exemplary and impactful urban project in a central and strategic area with excellent rail and road access to the capital centre and the rest of Greater Lisbon. Given the new market cycle, with more people working from home and with urban planners and developers investing more in greener, cleaner, more technological and better-connected projects, the land has the best conditions for the development of the much-discussed concept of the 15-minute city, whose purpose is to improve the quality of life of citizens by transforming cities into places where everything can be reached in, at most, 15 minutes, either on foot, by bicycle or public transport.”