A €100 million contract has been approved by the Lisbon City Council (CML) and Gebalis to undertake improvements to Lisbon's municipal districts. 

This investment into the country’s capital will permit construction and rehabilitation work to go ahead, scheduled to be completed by the end of 2026.

In addition, the investment will include the restoration of 369 buildings within over 25 municipal districts in Lisbon, with the recovery of 6,755 houses and the rehabilitation of a further 715 housing units, The Portugal News reports.

The Lisbon City Council and Gebalis came to an agreement last week to boost investment in the recovery and rehabilitation of housing within the city’s municipal districts.

As it stands, Gebalis manages over 20,000 residences throughout 66 municipal districts, which are home to around 60,000 people.

The funding from this project will allow Lisbon to undertake “fundamental works aimed at the rehabilitation and conservation of buildings in over 25 neighbourhoods, which translates to works on 369 buildings with an impact on 6,766 units, and rehabilitation of another 715 housing units,” the company stated.

According to a statement, the works are due to be finalised by the end of 2026. Furthermore, as well as the housing plans, work will also be undertaken in non-residential spaces, the report goes on to add.

This latest €100 million investment follows on from the €42 million that was approved within the program contracts that were signed last year. This funding was allocated to the rehabilitation of 327 homes, and up to now 300 have been finalised.

“With an execution rate of more than 99% in relation to the previous program contracts agreed with the CML, in the 2022 financial year, this financial allocation, which is unparalleled, represents the unquestionable commitment of the City Council to housing”, said President of the Board of Directors of Gebalis, Fernando Angleu. He added that the funds “are fundamental for the continuity of the development of Gebalis' work in favour of safety, comfort and quality of housing for the population residing in municipal districts.”