08 November 2023 – RE Capital, the property company specialising in repurposed real estate in Europe’s cosmopolitan cities, has obtained the construction license (planning permission) for its €110 million GDV, 130-home Marvila I Project. The development of Marvila I will help pave the way for a significant neighbourhood transformation in Marvila – delivering tangible, positive change for the area.
Marvila I is the redevelopment of a historic building and a former winery warehouse with 130 high-quality residential units and one retail unit in one of Lisbon’s fastest-growing areas, close to the river and the future Beato Creative Hub. The project will deliver a unique collection of buildings with a variety of apartments developed behind the imposing facades of restored historical architecture.
The Marvila I Project is designed with the community at its heart. By attracting a new and diverse population to Marvila, it aims to breathe life and vitality into local businesses, offering fresh opportunities for growth and development. The hope is to see Marvila flourish as the project brings a younger demographic and increased activity to the area.
The Marvila I Project is not just about bricks and mortar; it’s about people, progress, and potential. It’s about creating a space where the community can thrive, businesses can prosper, and individuals can call home. With demolition due to start in Q4 2023 and construction set for 2024, RE Capital will shortly begin to bring to life the positive transformation that the Marvila I Project promises to bring to the Marvila area.
John Neto Valente, Head of Investments at RE Capital, said: “We are incredibly excited to start with the regeneration of the Marvila neighbourhood. This is a very important milestone for Marvila, as it will positively impact the area – attracting younger generations and additional footfall for local businesses.”
Newman Leech, CEO of RE Capital, said: “The secured construction license for Marvila I is more than just a permit – it’s a green light for progress and revitalisation in a cherished part of Lisbon. This is a significant step towards nurturing community growth and bringing new energy to local businesses in the Marvila neighbourhood.”