Banco de Portugal has finalized an agreement with Fidelidade to construct its new headquarters on the grounds of the former Feira Popular in Lisbon. The project, expected to conclude by Q3 2027, marks the central bank’s long-awaited move to consolidate its offices and enhance operational efficiency.
Key Highlights:
- Strategic Location: The headquarters will be built on Plot A of Fidelidade’s Entrecampos development, a prime site in Lisbon.
- Efficiency & Security: The move will centralize 1,500 employees, currently spread across four locations, improving security and cost-effectiveness.
- Financial Scope: While official deal values remain undisclosed, previous reports estimated the transaction at over €240 million.
- Temporary Relocation: Before the new site is ready, Banco de Portugal will temporarily operate from the Marconi Building, adjacent to the Feira Popular site.
Fidelidade’s Role & Urban Development
Fidelidade, which acquired the Feira Popular land in 2018 for €270 million, is developing a mixed-use project including offices, retail, and housing. The bank’s headquarters will be part of this broader urban revitalization effort, alongside architect-designed residential buildings by Álvaro Siza Vieira, Eduardo Souto de Moura, and Ana Costa.
Banco de Portugal Governor Mário Centeno emphasized that the search for a permanent headquarters has been ongoing for over 40 years, likening it to Lisbon’s long-debated new airport project.
With this agreement, the former Feira Popular site is set to become a key financial and commercial hub, reinforcing Lisbon’s status as a modern business center.
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