Article by: Público Imobiliário (publico.pt)
Tiago Eiró says that “in the coming years, we plan to grow with even more projects, make more housing and, who knows, diversify even more including affordable housing developments to complement the offer and attractiveness of the neighborhood and the city”.
Urban rehabilitation continues to be a priority for EastBanc Portugal. The company currently has eight different projects in its portfolio, in different phases, two of them already under construction, and tells Público Imobiliário a little more about them.
In an interview, Tiago Eiró, CEO of EastBanc Portugal, says that Anjos Urban Palace is one of these projects. Signed by the architect Eduardo Souto Moura, in the building that is being rehabilitated, “we have maintained the previous use of retail and offices, and we are implementing a BREEAM certification process in the construction phase”, which attests to the most sustainable construction practices. Commercialization should start soon.
Another highlight goes to a residential building (apartments and villas) on Rua da Alegria, where “we see another project growing, by Frederico Valsassina, a rehabilitation aimed at rental housing, including retail. It stands out for its future connection with Parque Mayer and the views of the castle hillside and the Botanical Garden.”
On the other hand, at no. 58 of the Polytechnic School street, a new student residence will emerge, with the aim of revitalizing this artery, “boosting buildings that until then were partially disused or underused”. According to Tiago Eiró, the conclusion is scheduled for the end of this year.
“We expect to start work on new projects later this year, while we work on licensing others.” In summary, “we are involved in several segments, including housing, commercial spaces, offices, student residences, hotels, in a leasing logic and maintaining ownership of most of the assets”. Tiago Eiró says that “in the coming years, we plan to grow with even more projects, make more housing and, who knows, diversify even more including affordable housing developments to complement the offer and attractiveness of the neighborhood and the city”.
Urban rehabilitation “is in the DNA”
For EastBanc, urban regeneration is “in the DNA. It is in this segment of real estate that we have positioned ourselves for more than 20 years in Portugal, this is our specialization. We have been investing in the acquisition of buildings for further development, always preserving their identity and history. More than simply rehabilitating buildings, we seek to revitalize neighborhoods.”
Tiago Eiró points out the “remarkable renaissance of the historic centers of our cities, the result of public and private efforts, and we defend rehabilitated neighborhoods composed of the various segments of real estate, which offer a more balanced lifestyle, attracting residents, companies and commerce, boosting tourism in coexistence with the place”. As the city’s main current challenges, he points out mobility, parking or urban licensing processes. “Overcoming these obstacles will be crucial for the continued success of urban regeneration in Portugal.”
Be that as it may, “at EastBanc, we are committed to addressing these challenges and exploiting these opportunities, continuing our mission to revitalise areas encompassing Príncipe Real, in a long-term strategy, and contribute to the sustainable development of Lisbon”.
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EastBanc kicks off the year with 8 rehabilitation projects in its portfolio (publico.pt)