Greater Lisbon new office pipeline triples to 330,000m2

The Greater Lisbon region has seen a considerable uptick in planning permission applications for new offices since the start of 2024.

Last year saw licence applications for 28 office projects covering a total area of 330,000m2.

The pipeline volume has more than tripled (+282%) on the 86,500m2 submitted in 2023 for a total of 26 projects.

This is according to data from Confidencal Imobiliário which monitors investment intentions through energy pre-certification issued by ADENE.

The Great Lisbon region means the office segment covering Lisbon, Cascais, Oeiras, Loures and Sintra.

Lisbon made the greatest contribution for office pipeline in 2024, with 73% of the projected area (241,700m2), up 200% on last year.

This increase in planned office area was down to the development of three large projects which taken together represent 80% of the pipeline in the metropolitan area.

The largest refers to a 135,700m2 development in Avenidas Novas. The other two are for the development of 27,900m2 in Parque das Nações, and the other for 26,500m on Rua de Santo António.

The other 12 projects in Lisbon are smaller but two stand out both with around 15,000m2 each in the parishes of Arroios and Campolide.