Lisbon public housing set to receive €322 million after the Lisbon city council agreed to sign an agreement with Institute for Housing and Urban Rehabilitation (IHRU) . This new agreement comes to the addition of another one that was signed last year in 2022 making the total amount of funds to be invested standing at €800 million. A detailed note from the local authority to a news agency pointed out that the Lisbon council had closed the new agreement Institute for Housing and Urban Rehabilitation (IHRU) for investing in public housing that summed up to €800 million with €510 million to be financed until the year 2028.
€100 million of Lisbon Public Housing to be allocated for rehabilitation of municipal housing
The local authority has indicated that a third of the money will be set aside for rehabilitating of the municipal housing which will be under the supervision and management of Gebalis-Lisbon Municipal Housing Rental Management. €15 million will be utilized in the rehabilitation of the vacant properties, hoping to meet an objective of providing 620 units. €85 million will be utilized in the rehabilitation of buildings that are considered to contain “undignified housing conditions” which will be of benefit to 8543 homes and the respective resident families.
Also read:Braga Housing Project Set to Receive 2.2 million Euros Investment
Financial support beyond Recovery and Resilience Plan
The €222 million remaining will be utilized in supporting the continued housing investment from 2027 to 2028, extending far beyond Portugal’s Recovery and Resilience Plan (PRR), alongside the support that comes from the budget of the state. The statement also stated that the municipality of Lisbon is making a very ambitious effort and commitment in making the necessary investments for the construction of approximately 14,383,000 homes by the year 2028. The local authority also stated that part of this Lisbon public housing investment had already started and had made it possible during the current mandate the allocation of 1,100 homes, 487 had been built and 683 homes had been fully rehabilitated.
Support of The Lisbon Public Housing Project from Mayor of Lisbon
The Mayor of Lisbon, Carlos Moedas said that they were paying very special attention to the most vulnerable citizens and ensure that they get to provide for them with decent housing. He also stated his support for the middle class citizens so that they could also live in Lisbon. Lastly, he pointed out that, “We want a city that is not only for some but for all”.
Housing has really been quite a problem in the city of Lisbon and this funding hopes to aid the city in making progress to curb the problem and provide solutions in housing as the city pursues the Lisbon public housing project.
