Oeiras Mayor Announces Major Waterfront Transformation and Housing Investment
The municipality of Oeiras is embarking on an ambitious development plan, with Mayor Isaltino Morais announcing a series of large-scale projects aimed at transforming the area's housing landscape and tourism appeal. The municipal announcement detailed a flagship project centered on the coastal parish of Paço de Arcos. The plan involves the construction of a new recreational marina and a comprehensive requalification of the surrounding waterfront. This development is designed to create a premier nautical and leisure destination, strategically linking the Oeiras coastline with the Tagus River and the neighboring hubs of Lisbon and Cascais. The project is expected to significantly elevate the international standing of the municipality.
The specific details of the development include not only the marina but also a substantial investment in public housing. The municipality has 750 affordable rental homes currently under construction, part of a wider initiative to address housing needs in the increasingly popular Lisbon suburb. According to the announcement, more than 60 of these units have already been delivered to families this year. This effort is a cornerstone of the local government's strategy to ensure balanced growth and maintain a diverse community. The long-term vision for the neighborhood transformation includes improved public spaces and amenities that will benefit both residents and visitors, directly impacting local property values and investment appeal.
The timeline for these projects extends over the next several years. The flood mitigation project for the Ribeira de Algés, which involves a new retention basin, is scheduled for completion around 2028 and is intended to provide increased security for residents and properties in the Baixa de Algés area. Mayor Morais has stated that he expects the flooding issue to be resolved within two years. The housing construction program is even more ambitious, with a target of building 1,500 new homes by 2030, leveraging financing from the national Recovery and Resilience Plan (PRR). This long-term commitment provides a clear roadmap for the area's growth.
The impact on local residents and property owners is expected to be substantial. The new marina and revitalized waterfront are projected to create new business and employment opportunities, particularly in the tourism and service sectors. The massive injection of new housing, especially affordable rental units, aims to stabilize the local housing market and provide options for young people and families. This is part of a broader municipal investment in housing that has exceeded €80 million in recent years, including a €13 million 'Youth Housing' program. These initiatives are designed to counteract the gentrification pressures often seen in desirable coastal areas near a major capital city.
Infrastructure improvements are a critical component of the overall plan. Mayor Morais has also announced his intention to reactivate the dormant SATU (Automatic Urban Transportation System) line, a personal rapid transit system. Furthermore, the council has approved a protocol to advance the construction of a light rail surface metro that will eventually connect Oeiras to both Lisbon and Loures. These transportation enhancements are fundamental to supporting the planned residential and commercial growth, improving connectivity and reducing reliance on private vehicles. The combination of new housing, modern infrastructure, and high-quality leisure facilities positions Oeiras as a forward-thinking municipality and a prime location for real estate investment. Discover emerging areas and local opportunities at realestate-lisbon.com.
