Portuguese asset manager Norfin has presented a new neighbourhood concept in Lisbon that will be built on the premises of the former Alvalade stadium in Campo Grande.
US alternative investment company King Street Capital Management and the Arrow Global Group will invest around €300 mln in the project.
Construction work on the Campo Novo project (formerly known as Metropolis) will kick off this year, with the first of two phases scheduled for completion by the end of 2024.
According to Norfin CEO Francisco Sottomayor, ‘this is a historic project given its magnitude and because it will bring a new neighbourhood concept to Lisbon, a residential, business and commercial zone that will bring a centrality to Campo Grande of living in a huge square.’
With 80,000 m2 of above-ground construction space, the project is split into three residential condominiums, four buildings for offices and commercial premises, as well as 20,000 m2 of gardens.
The 30,300 m2 residential area consists of 245 apartments of all sizes, with private gardens, a swimming pool, rooftop, co-working rooms, kids' club, gym, direct access to the commercial zone and chargers for electric vehicles.
Campo Novo will offer 37,600 m2 of offices with LEED Gold certification and 450 m2 rooftops on each of the four buildings.
The 12,100 m2 commercial zone will be connected to both the residential and business areas and consist of 18 shops, 15 restaurants, seven kiosks and a supermarket.
Centrally based, close to Lisbon's Central Business District, the new neighbourhood will benefit from connections to the various reference points via cycle tracks, metro lines, railways and roads.
