Transforming Lisbon: Historic Gas Tanks to Become Hotel in Major Urban Redevelopment

Major Urban Transformation in Lisbon

The Matinha area in Marvila is set to undergo what is considered the largest urban redevelopment of an old industrial site in Portugal. This ambitious project will see the repurposing of three out of four gas tanks that have long defined the landscape of the former gas factory along the Tagus River.

These structures have withstood the decline of the oil and gas industrial hub that dominated eastern Lisbon for decades. The closure of fuel production and storage facilities was expedited by the 1998 Expo, which paved the way for urbanization in this part of the capital.

Details of the Project

The B lot of the detailed plan for Matinha is currently open for public consultation. This project is described as “the largest redevelopment in Portugal of a highly degraded industrial area”, addressing significant soil contamination issues, and aims to create one of the most sustainable and integrated residential zones in Lisbon. This information was provided to Observador by the property owner and developer, VIC (Valuable Investment Capital) Properties.

According to the real estate company, this lot represents about 38% of the total area outlined in the detailed plan for Matinha and will extend from another major real estate operation, the Prata Riverside Village, also developed by the same owner. The estimated investment for the project is around 320 million euros, although more concrete figures will be available at a later stage.

Gasometer Integration

A key focus of this redevelopment is the integration of the metal structures of the gas tanks (previously the gas storage for Lisboagás). These structures will be dismantled from their current site, with three being incorporated into the new buildings and one slated for demolition.

Plans indicate that two of the gas tanks will house a hotel, while the third will be donated to the Lisbon City Council for municipal use. Additionally, plans for a greenhouse are referenced, though this initiative will depend on the local authority rather than the developer.