Lisbon City Hall signs a 322 ME agreement with IHRU for housing investment

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The Lisbon City Council (CML) has signed a new agreement with the Housing and Urban Rehabilitation Institute (IHRU) worth 322 million euros for investment in public housing, the local authority announced today.

This new agreement comes on top of one that has already existed since 2022, the two together totaling 800 million euros.

“The Lisbon City Council has closed a new agreement with the Housing and Urban Rehabilitation Institute (IHRU) for an investment in public housing that totals 800 million euros, with 510 million euros financed until 2028,” reads a note sent by the autarchy to the Lusa agency.

According to the local authority, of the 322 million euros, about 100 million will be used to rehabilitate municipal housing under the management of Gebalis – Lisbon Municipal Housing Rental Management.

The Lisbon City Hall specified that of these 100 million Euros, 15 million will be used to continue the effort to rehabilitate vacant housing, benefiting about 620 units, and 85 million to rehabilitate “buildings with undignified housing conditions, benefiting 8,543 homes and their respective resident families.

The remaining 222 million euros are destined to continue the investment effort in housing, between 2027 and 2028, that is, beyond the execution of the Recovery and Resilience Plan (RRP), with the support of the State Budget, he added.

Lisbon City Hall signs a 322 ME agreement with IHRU for housing investment

“The municipality of Lisbon thus makes an ambitious commitment to realize necessary investments in the construction and rehabilitation of about 14,383,000 homes by 2028,” is highlighted in the note.

According to the local authority, “part of this investment is already underway, having made possible, in the current mandate, the allocation of more than 1,100 homes, 487 homes built and 683 homes rehabilitated.

Quoted in the note, the Mayor, Carlos Moedas (PSD), stressed that housing is the biggest challenge in Lisbon and a priority for the municipality, highlighting the importance of the funding now secured with the IHRU.

“We are paying special attention to the most vulnerable, to make sure they have decent housing, but we are also supporting the middle class, so they can live in Lisbon. We want a city that is not just for some, but for all,” he said.

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