New Construction Project Announced for Lisbon's Beato Neighborhood
The developer Larfa Properties has announced a major construction and rehabilitation project in Lisbon's Beato district, known as the Beato Quarter. The project specifications detail a global investment exceeding €70 million, focused on the regeneration of 10 historic buildings. A centerpiece of the development is the recently completed €6 million conversion of the historic Convento do Beato's church into a premier event space named The Chapel. The project aims to create a modern, multifunctional zone in a historically significant part of the city.
The construction timeline for the broader Beato Quarter project includes a second phase scheduled to commence before the end of this year. This phase involves the construction of three new residential buildings that will introduce a mix of housing typologies to the area, ranging from one-bedroom (T1) apartments to expansive four-bedroom (T4) triplexes. The project scope covers over 18,000 square meters, with 8,500 square meters allocated specifically for residential use and 3,500 square meters for green, landscaped courtyards. The development also includes plans for integrated parking facilities.
The architectural design for The Chapel was handled by the firm Risco, which focused on preserving the building's unique heritage while incorporating modern functionality. The 1,400-square-meter space is distributed across two main floors and a terrace, featuring an imposing ceiling on the upper level and smaller, adaptable 'Little Chapels' on the lower level for breakout sessions or brand activations. This boutique venue is designed for a variety of corporate and cultural events. Further details on new projects can be found in our Construction Updates news section.
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Financing arrangements for the Beato Quarter reflect a significant capital injection into this part of Lisbon. The project has already secured regulatory approvals and planning permissions for its next phase. The international launch of The Chapel is set for October 29th, when it will host the opening night of the Tribeca Festival Lisbon 2025. This high-profile event underscores the developer's ambition to position the venue as a destination for prestigious international gatherings. The official public inauguration of The Chapel is anticipated for 2026.
The project is expected to have a substantial local economic impact, enhancing the neighborhood's profile and attracting further investment. The blend of historic restoration and new construction is a hallmark of many successful urban renewal projects in Lisbon. Investors interested in such projects may wish to consult with professionals specializing in historic restoration. The development of the Beato Quarter aligns with a broader vision of creating dynamic, integrated neighborhoods within Lisbon's city center, making it a key area of interest for market watchers. For more information on emerging areas, our neighborhood guide offers valuable insights.
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