Investment in urban renovation hits €1.4Bn

Investment in urban rehabilitation through the IFRRU 2020 in October stood at €1.4Bn.

The information was announced by the Ministry of Infrastructures and Housing, which stated that of the 430 contracts signed on the back of the programme, 203 buildings will be for housing, and the other 2010 for economic activities, and 17 for collective “cultural, public and social’ facilities and amenities, as well as student residences.
Despite the amount clocked up in October, the ministry led by Pedro Nuno Santos, announced that there was still funding available for contracting new projects through the Urban Revitalisation and Renovation Instrument. (IFRRU 2020)
The majority of these projects (345) are being developed by companies and the others by private individuals, social solidarity institutions, and municipal councils.
“With 142 buildings already renovated, the projects are located in Urban Rehabilitation Areas identified by their respective municipal councils and in line with local urban policy”, states the communiqué, adding that 89 municipalities in various regions of the country have received IFRRU 2020 financial grants.