"The profitability and appreciation of municipal real estate assets, subject to criteria of good administration, effectiveness and efficiency and the fulfillment of development objectives and satisfaction of the public interest, is based, in particular, on the identification of real estate assets susceptible to alienation and the assessment of the best time for their placement on the market," reads the proposal signed by the vice-president of the Lisbon City Council (CML), Gonçalo Reis (PSD), and to which Lusa had access.

The proposal

The proposal to sell 10 municipal properties, with a total base value of €59.2 million, is scheduled for 8 June private meeting of the city council executive, and approval is guaranteed, since the PSD/CDS-PP/IL leadership, under the presidency of Carlos Moedas (PSD), governs with an absolute majority, after having integrated a councilwoman who left Chega.

However, the sale of eight properties valued at over €920,000 requires approval from the Lisbon Municipal Assembly (AML), where the PSD/CDS-PP/IL coalition does not hold a majority.

Properties’ values

These eight municipal properties are valued at a total of €57.6 million, located on Rua Pardal Monteiro (€11,838,250), Rua Almirante Sarmento Rodrigues (€9,398,500), Rua Emília Eduarda (€13,733,000), Rua Dom Jerónimo Osório (€1,440,500), Rua Gregório Lopes (€5,734,500), Rua de Campolide (€10,893,400), and Rua Washington (€3,445,300).

According to the proposal, the other two municipal assets to be sold at public auction have a value of less than €920,000, totalling a base bidding price of €1.6 million, both located in Quinta dos Alcoutins, one in lot 26 (€797,100) and the other in lot 27 (€850,400).

These 10 properties, according to the CML, can be sold, including because they are considered "unnecessary for the installation or operation of municipal services, not being allocated to the fulfilment of specific municipal housing programs or other duly approved sectoral programs, nor are they considered necessary for the execution of urban planning studies or plans".

With responsibility for Asset Management, the Vice-President of the Lisbon City Council (CML) states that the revenue generated by the sale of this non-strategic asset, valued at €59.2 million, constitutes capital revenue that “will help finance the ambitious investment plan” foreseen in the Major Options of the Lisbon City Plan 2026-2030, namely for investment in new zero-emission transport, construction of new nurseries, schools, police stations and health centers, housing, enhancement of public space, modernisation of urban hygiene equipment and investment in the paving of public roads.

Asset operations

In the document, the Social Democrat Gonçalo Reis recalls that, between 2008 and 2021, when the municipality was under the management of the Socialist Party (PS), the CML carried out asset operations that generated “more than €800 million in revenue, as is the case of the Entrecampos land which, in 2019, yielded around €274 million, among many others”.

“The current market context is suitable for renewing the supply of land for construction, thus continuing the commitment to enhancing and promoting municipal real estate assets and attracting investment in Lisbon, contributing to the recovery of the economy, with the creation of new businesses and more jobs,” argues the PSD mayor.

The 10 municipal properties to be submitted to public auction will be sold with urban planning information regarding maximum buildability and the best possible use of the assets, which was taken into account in determining their respective market values.