8 March 2021 – Ana Custódio
The developer responsible for some of the largest residential projects in Portugal, VIC Properties S.A., has finalised the construction of the Edifício Riverside. It’s the second apartment building to be inaugurated stemming from the renowned Italian architect Renzo Piano’s project.
The Riverside development is composed of forty flats and was fully let well before its conclusion, with sixty-five per cent of the building’s residents being Portuguese. The Riverside follows the first finished project, whose 28 flats are also fully let and inhabited.
Focused on the Portuguese residential real estate market, VIC Properties will soon also start the construction of two more buildings, adding another 98 flats within the larger Prata Riverside Village development, the new neighbourhood going up in the parish of Marvila. The properties are located on the bank of the Tagus River and linked to the Parque Ribeirinho Oriente. The real estate developer’s attention is now focused on the sale of the last units of the Edifício West, which comprises 107 flats, which will be concluded until the end of 2021, as well as beginning marketing of the 65 apartments in the Edifício Urban.
Luís Gamboa, Chief Operating Officer of VIC Properties, considers that “The Prata neighbourhood is becoming increasingly consolidated. The Central Square is also being remodelled to gain greater dimension and amplitude. Soon, we will witness the opening of Prata’s first commercial spaces, which will serve not only the residents of Marvila but also the hundreds of people that pass by there every day.”
The remaining buildings in the development are also under construction, with particular emphasis on the building that will form the heart of the neighbourhood, a space dedicated to retail, with a large food hall, as well as a fitness centre, including a swimming pool and spa, for use by the condominium’s residents and visitors.
The Prata Riverside Village stands apart for being a real neighbourhood environment, calm and full of life. The development combines modernity and functionality with sustainable and durable material technologies. It will include shops, restaurants, galleries, a bike lane, and playgrounds capable of serving the resident community and attracting visitors from other areas in Lisbon.
The Prata Riverside Village was named the Best Real Estate Development in the Housing category in Portugal (SIL Award 2019). It continues to develop rapidly while attracting significant demand from those who want to live in Lisbon in a neighbourhood where everything has been properly thought out.
Translation: Richard Turner
