There are 260,000 square metres (2.8 million square feet) of new constructions in an area of approximately 20 hectares. It is on this land, in Matinha, in the parish of Marvila, Lisbon, that more than two thousand new houses are to be built in what will be one of the largest real estate projects of the century in Portugal, according to the developer VIC Properties, which acquired the aforementioned land by public deed.
According to the company, the works should start in early 2020 and continue over the following years.
"The Matinha project will include several leisure facilities, as well as a number of several lifestyle and convenience services that will transform this part of the city into a space of excellence to those that live, work or visit the area. As in Prata Riverside Village, a project already underway and under the responsibility of VIC Properties, the goal is to create an integrated space that enhances quality of life and provides a unique lifestyle experience," says VIC Properties in a statement.
"With this project in Matinha, together with the Prata Riverside Village, VIC Properties will place more than 2,700 new homes on the market."
João Cabaço, co-CEO of VIC Properties
"With this acquisition, and taking into account the construction of Parque Ribeirinho Oriente, VIC Properties will also connect Parque das Nações to Prata Riverside Village, continuing its mission of renovating a part of the city that has long been stagnant," says the communiqué.
João Cabaça, co-CEO of VIC Properties, says that the construction of this "development is also a response to the shortage of new housing in Portugal", a problem that affects the capital. " With this project in Matinha, together with the Prata Riverside Village, VIC Properties will place more than 2,700 new homes on the market," he adds.
Luís Gamboa, COO of VIC Properties, reveals that the company aims to "be the main promoter" and that "it will give priority to environmental sustainability measures, planning to start as soon as possible the work of decontaminating the soils of the land around Matinha, recovering them and ensuring the appropriate level of public and environmental health protection."
VIC Properties, which is based in Lisbon, has "vast experience in large development projects", being "a fully integrated real estate platform that covers the entire value chain of the construction process".
"VIC Properties operates from the moment the land is identified, during the planning phase, to the construction and sale, as well as the administration of the property and associated services," says the company, stressing that it successfully concluded, in April, the issue of 250 million euros in Secured Pre-IPO Convertible Bonds, in a transaction that sets the company up for its entrance onto the stock market.
Urgent property sales in Portugal
Purchasing real estate doesn’t have to be a lengthy process, even in the heart of summer. If you’re planning to settle into your new home this season, there are ways to speed up your search and find great deals faster. One of the best options? Urgent property sales in Portugal, offering a unique chance to secure a home quickly and at an attractive price.
Portugal leads house price rises in the EU in the first quarter of 2025
Year-on-year house prices increased by 5.4% in the euro area, 5.7% in the EU, and... 16.3% in Portugal, according to Eurostat.
Potential pitfalls of buying property in Portugal: a guide for foreign buyers
Dreaming of buying a property in Portugal and starting a new life under the sun? It should be an exciting experience, but for many expat buyers, the process can feel overwhelming and complicated. The legal system is different, the paperwork is in Portuguese, and the buying process differs greatly from your home country.
Cheap property in Portugal under €150K: best deals for 2025
Looking for cheap property in Portugal under €150,000? Despite house prices at record highs, there are still great bargains available if you know where to look. From affordable apartments in quieter parts of the Algarve to budget-friendly homes on the outskirts of Lisbon and Porto, as well as charming rural properties, Portugal offers a variety of options for buyers on a budget.
Portuguese Government launches new housing policy to tackle rising prices
Portugal’s Prime Minister has announced a fresh housing strategy aimed at bringing together all key players in the property sector to help resolve the country’s housing crisis and curb price increases.
Country homes for sale in Portugal: only 24% under €100,000
Country homes in Portugal stand out for their charm, character and use of traditional materials such as wood, stone and brick. Also known as rustic homes, they appeal to buyers looking for a quieter lifestyle or an affordable second home in the countryside. However, finding one can be a challenge—whether you're a family or an investor—as country homes made up only 6% of all listings on idealista in the first quarter of 2025. And of those, just 24% are priced below €100,000.
Renovated properties for sale in Portugal
Renovated homes in Portugal are in high demand, offering a blend of traditional charm and modern comfort. From restored townhouses and apartments in Lisbon to upgraded farmhouses and villas in the Algarve, these properties combine historic character with updated interiors and contemporary amenities.