New 13-storey office building to be built in Parque das Nações

A 13-storey office building will be built in Lisbon’s bustling Parque das Nações area.

Entitled ‘K-Tower’, the building will be located near the Vasco da Gama shopping centre and construction will begin in the summer of 2019. It is expected to be completed by the first three months of 2021.

The project is headed by real estate companies Krestlis and JLL.

JLL said in a statement that the Parque das Nações area is in need of new office buildings as most of the existing spaces are almost completely rented out and no new buildings have been built recently.

“We are very confident that the entire building will be rented out before it opens. It is also possible that the building could become the headquarters of one company only,” said Mariana Rosa, head of office agency and corporate solutions for JLL Portugal.

Parque das Nações is one of the city’s most modern neighbourhoods, built to host the international Expo 98 exhibition. It has since become the capital’s corporate centre, with many companies opening offices in the area.