Mota-Engil Secures €108 Million Contract for New Lisbon Residential Project
The construction company Mota-Engil SGPS has officially announced it has signed a new construction contract for a residential project in Lisbon. The company's statement to the market detailed that the project is valued at €108 million. This development is a significant addition to the real estate landscape of the Portuguese capital. The project specifications, while not fully disclosed, point towards a substantial residential complex, given the high value of the contract. The construction timeline is estimated to be 29 months from commencement to completion.
This Lisbon contract was part of a larger series of announcements from the group, which also secured a €290 million railway construction project in Mexico and a €162 million contract for works at the Bugesera International Airport in Rwanda. The total value of the newly signed contracts amounts to approximately €560 million. The financing for the Lisbon project is secured as part of Mota-Engil's corporate financing arrangements and operational cash flow. The company has not yet announced any specific investment partnerships for this residential development.
Regulatory approvals and planning permissions for the Lisbon project are understood to be in place, allowing for the 29-month construction schedule to be announced. The architectural design and specific building features have not been made public at this stage. The project is expected to have a notable local economic impact, creating jobs in the construction sector and related industries in the Lisbon metropolitan area. Mota-Engil has not released information regarding pre-sales activity or the level of market interest in the residential units.
The company stated that these new contracts are a reflection of its 'successful strategy of consolidating its leadership position in Portugal' and reinforce its commitment to infrastructure development. The addition of these projects has pushed the group's order book to 'record levels,' a trend that has been ongoing since 2024. The development will require standard infrastructure requirements and utility connections typical for a large-scale residential project in an urban center. Mota-Engil is known for adhering to high quality standards and modern construction methodologies in its projects. Monitor new development opportunities at realestate-lisbon.com.
