Investment & Strategy Guides
10 min read

Invest Today in Almada & Lisbon: Government Selling Prime Real Estate

A landmark government decision has unlocked a once-in-a-generation opportunity for property investors. Prime state-owned assets, including the vast Trafaria Barracks in Almada, are now on the market.

A sweeping aerial view of the expansive Quartel da Trafaria in Almada, showing its prime waterfront location on the Tagus River, opposite Lisbon.

A Generational Opportunity: Prime Public Land for Private Development

The Portuguese government has fired the starting gun on one of the most significant real estate offerings in recent history. On September 19, 2025, Minister of Infrastructure and Housing, Miguel Pinto Luz, announced a sweeping plan to sell or concede 23 prime state-owned properties. As reported by Diário do Distrito, this initiative will release vast, strategically located plots of land for private development, creating unparalleled opportunities for visionary investors.

This is not a routine sale of surplus assets. The list includes some of the most coveted and underutilized properties in the Lisbon metropolitan area. The government's strategy is to use Public-Private Partnerships (PPPs) to fast-track the creation of new housing and modern urban spaces. For investors, this is a direct invitation to partner with the state and shape the future of Lisbon's landscape.

The Crown Jewels: Almada's Waterfront and Lisbon's Urban Core

The portfolio of fourteen properties to be developed via concession is extraordinary. The headline asset is the Quartel da Trafaria in Almada, a massive former military complex with a commanding presence on the Tagus river's south bank. This site alone represents a monumental opportunity to create a new waterfront destination. Other key assets available for development include:

  • The former Miguel Bombarda Hospital in Lisbon
  • The Northern Military Maintenance Complex in Lisbon
  • Seven different plots in prime Lisbon locations
  • Two plots in the growing municipality of Amadora
  • A strategic plot in Oeiras

These are not small plots; they are large-scale sites capable of hosting transformative mixed-use projects. This move, confirmed by sources like Observador, is a core part of the government's plan to solve the housing crisis by boosting supply.

Opportunities of this scale are incredibly rare. To capitalize, you need immediate access and expert strategy. Contact our investment team for a confidential consultation on how to position yourself for these public tenders.

A map of the Lisbon Metropolitan Area showing the locations of the key properties for sale, with prominent markers on Almada, Lisbon, Amadora, and Oeiras.

Direct Purchase: Historic Buildings in Central Lisbon

Beyond the large-scale PPPs, the government also announced the direct sale of nine 'emblematic' public buildings, with the auctions planned to begin by summer 2026. This includes historic properties like the former headquarters of the Presidency of the Council of Ministers. These sales are perfect for investors seeking to acquire and refurbish unique heritage buildings for luxury residences, boutique hotels, or premium office spaces.

This dual strategy of large-scale concessions and direct sales caters to a wide range of investment appetites. Whether your goal is to develop a new neighborhood from the ground up or to restore a historic gem, this government initiative provides a clear path forward. To understand the tax implications of such an investment, it is wise to consult with specialists in the NHR tax regime.

Your Questions Answered: Investing in Public Real Estate

What properties is the Portuguese government selling?

On September 19, 2025, the government announced the sale of nine public buildings and the concession of fourteen plots of land via Public-Private Partnerships (PPPs). Key assets include the Quartel da Trafaria in Almada, the former Miguel Bombarda Hospital in Lisbon, and other prime plots in Lisbon, Amadora, and Oeiras.

Why is the Trafaria Barracks in Almada a major opportunity?

The Quartel da Trafaria is a vast, strategically located former military complex on the south bank of the Tagus River, opposite Belém. Its sale for development via concession is a rare opportunity to create a large-scale, landmark waterfront project. This is the kind of transformative project that defines a region for decades. Our investment property agents can provide exclusive details.

What is a Public-Private Partnership (PPP) in this context?

A PPP, or concession, means a private developer can secure a long-term lease to build on and manage a public property. The state retains ownership, but the private partner invests in, develops, and profits from the project. It's a model designed to accelerate development by leveraging private sector expertise and capital. For legal guidance on these structures, consult our property acquisition lawyers.

Are there opportunities for smaller investors?

While the large plots are for major developers, the direct sale of nine historic buildings, planned by summer 2026, offers significant opportunities. These are ideal for investors looking to create boutique hotels, luxury apartments, or unique commercial spaces. Furthermore, the large developments will create a halo effect, increasing property values in surrounding areas of Almada, Amadora, and Lisbon.

Why is the government selling these assets now?

The move is part of a dual strategy to optimize the state's underused assets and to urgently increase the housing supply to combat the housing crisis. As Minister Miguel Pinto Luz stated on September 19, 2025, the goal is to mobilize state assets to create more housing and better cities. This aligns with the government's broader housing strategy, including a recent €1.34 billion EIB financing deal.

What kind of developments are expected on these sites?

While plans will be subject to municipal approval, the focus is heavily on residential-led, mixed-use projects. This includes market-rate housing, affordable housing components, commercial spaces, and public amenities like parks and cultural facilities. The goal is to create integrated, modern neighborhoods. Stay updated on our investment insights page.

How does this impact the property market in Almada?

The development of the Trafaria Barracks will be a game-changer for Almada's south bank. It will bring massive investment, new infrastructure, and high-quality housing, significantly boosting the area's profile and property values. It positions Almada as one of the most exciting growth areas in the entire Lisbon metropolitan region.

How can I get involved or learn more?

These opportunities require swift, expert action. Our firm has a dedicated team monitoring these public tenders and sales. Contact us for a confidential briefing on how you can participate in these landmark development opportunities.

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Pieter Paul Castelein

Pieter Paul Castelein

Real Estate Expert

October 29, 2025
Lisbon, Portugal

Visionary entrepreneur who founded Real Estate Lisbon with a mission to revolutionize property acquisition in Portugal. With deep market expertise spanning luxury residential, commercial, and investment properties, Pieter has facilitated over €50 million in successful transactions across Lisbon and surrounding regions.

International Investment StrategyClient RelationshipMarket Development & AnalysisStrategic Partnerships

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