The new National Fund for Rehabilitation of Built (FNRE) will offer €1.4bn from the Financial Stabilization Fund of Social Security (FEFSS) for the renovation of 7,500 buildings by 2027. Only four cities have joined the initiative – Lisbon, Porto, Coimbra and Vila Real, though cities throughout the country are eligible. “The aim is to rehabilitate 1 million sqm of dilapidated buildings, which can be deployed for about 800,000 sqm of housing and 200,000 sqm for trade and services,” said Secretary of State for the Environment, José Mendes.
“The FEFSS has applications and its regulations provide for the possibility of applying the fund for real estate purposes. The government will not do anything that is contrary to the law or jeopardize the [country’s] financial stability of social security”, said the Minister of Social Security, Vieira da Silva.
