Lands of the Popular Fair win houses, commerce and the new headquarters of Fidelidade

Almost 240 million euros was how much Fidelidade offered to stay with the lands of the Lisbon area of Entrecampos, where once existed the Popular Fair.

The land has been deserted for years, but the landscape will change. Houses, commerce and offices were part of the Lisbon Chamber's project for that area. In addition to these buildings, will also be born the new headquarters of Fidelidade. "At the public auction held today by the Lisbon City Council ... all the lots that made up the former Popular Fair were awarded to Fidelidade, which will allow it not only to boost the construction of the new headquarters of the Group in Lisbon, but also to participate in a project real estate that is truly innovative and transformative for the city, which will define a new centrality, with high value creation and international visibility, "reads the statement sent to the newsroom by the insurer. Fidelidade hopes to concentrate on the spot all the services that currently have "dispersed by several buildings of the city". The insurer explains that the project for the new headquarters started a year ago, culminating now with the victory at the public auction. The new building will be built, according to the insurer, "in innovative ways, open to the Community in its various dimensions and aspects." The project will encompass offices, commerce, services, and housing. Loyalty wants it to be "an icon of our City". The investment, the note concludes, is part of the "process of reconfiguration of the Company's real estate portfolio ... by strengthening its position as a major investor in our country, and particularly in Lisbon, in a market with a very limited supply." The process of selling the lands of the former Popular Fair was completed on Wednesday, after being postponed three times. The first of four lots, next to the Entrecampos train station, was sold for 83 million euros. The second batch was sold for 88.3 million euros and the third was sold for 35.4 million euros. The last lot was bought for 67.1 million. In total, Fidelidade will pay 238.5 million euros. The Lisbon Chamber expected to raise $ 180 million.