Sitio Coworking Network to Open 1,700-Square-Meter Hub in Lisbon's Rossio
The coworking network Sitio is scheduled to open a new 1,700-square-meter flexible office space in Lisbon's Praça do Rossio in November. The new location, named Sitio Rossio, will accommodate over 210 workstations and is being developed to potentially host one or two thematic hubs in partnership with other organizations. Miguel Ricardo, managing partner of Sitio, confirmed in an interview with ECO that the company is in advanced negotiations with several partners, including the prominent Unicorn Factory Lisboa.
This expansion follows a successful model of collaboration, as Sitio already partners with Unicorn Factory Lisboa on the AI Hub and Web3 Hub located in Alvalade. "At Sitio Rossio, we are working with partners to place one or two hubs there," Ricardo stated. He elaborated that the strategy involves Sitio managing the physical space while a partner curates the specialized community, offering services like incubation programs, mentorship, and networking events for a specific vertical. This model represents a significant trend in the PropTech and innovation sector.
The demand for flexible office space in Lisbon remains robust, with Ricardo noting that Sitio's existing six buildings in the city maintain an occupancy rate of around 90%. He attributes this growth not only to startups and international companies but also to a significant shift of traditional businesses away from conventional leases. "The biggest demand we will have in the coming times is from companies moving from the traditional model to the flexible model," he said. This trend is reshaping the commercial real estate landscape, a topic covered in our market trends news.
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The Sitio Rossio facility is situated on the upper floors of a historic building in the iconic square. Due to the building's protected status, the renovation has resulted in unique office layouts, with Ricardo mentioning that 70% of the private offices will include their own private bathrooms and offer more space per workstation than is typical. This premium offering reflects the evolving demands of the modern workforce for higher quality and more flexible work environments.
Ricardo also commented on the broader market, acknowledging that while rising real estate prices in Lisbon present a challenge to Portugal's competitiveness, the demand for flexible office solutions continues to grow. The new Rossio hub is a clear indicator of the sustained investment in Lisbon's commercial real estate market, driven by both local and international demand. For investors seeking opportunities in this dynamic sector, connecting with agents specializing in investment properties is a crucial step.
Stay updated on real estate technology trends at realestate-lisbon.com.