The Banco de Portugal is in advanced negotiations with Fidelidade to establish its new headquarters on the site of the former Feira Popular in Entrecampos, Lisbon. This potential move could represent a significant investment, with estimates suggesting costs may exceed 240 million euros.
The discussions between Banco de Portugal and Fidelidade have reached an advanced stage, although they have yet to be finalized. The negotiations revolve around the construction of a new headquarters for the central bank on land owned by Fidelidade, which purchased the former Feira Popular site in 2018 for approximately 270 million euros.
Market values for prime office space in Lisbon hover around 30 euros per square meter. Given this, the total investment for the new headquarters could exceed 240 million euros, making it a significant financial undertaking for the central bank.
In addition to the new headquarters for Banco de Portugal, the area previously occupied by the Feira Popular is set to see further development. Plans are underway for additional residential and office buildings, which could transform the landscape of Entrecampos.