Mercan Properties Invests Three Million in the “Last Urban Park” in the Center of Porto

In August 2024, the development of “the final urban park within Porto’s city center” will encompass 1.7 hectares, representing a substantial investment of three million euros, spearheaded by the Canadian conglomerate Mercan Properties.

During the commencement ceremony for the Lapa Urban Park, the Mayor of Porto emphasized the significance of this initiative, stating, “This marks the culmination of our efforts in establishing urban parks within the city center. There are no remaining spaces comparable to this expansive 1.7-hectare haven.” This project, facilitated by a three-million-euro investment from Mercan Properties, owners of the Renaissance Porto Lapa Hotel, is anticipated to be unveiled by August 2024, with Mayor Rui Moreira relinquishing one million euros in taxes to materialize this verdant space.

This endeavor is the outcome of a collaborative venture between the municipal authorities and the Canadian group, intertwined with the licensing procedures for the new hotel. It encompasses the group’s involvement in the redevelopment of streets like Cervantes and Alves Redol, now accessible to traffic since March, without fee exemptions but through a land transfer as part of the Urban Development Plan, as elucidated by Urban Planning Councillor Pedro Baganha.

Jordi Vilanova, President of Mercan Properties, envisions this as the group’s commitment to sustainable progress and city life enhancement, forging a green legacy for forthcoming generations in Porto.

Over recent years, Porto’s municipality has seen an increase in green spaces, reaching 76 hectares through enhancements and expansions, with 22 hectares devoted to novel areas, such as Oriental Park, City Park’s western precinct, São Roque Park expansion, Asprela Park construction, and the verdant roof of the Campanhã Intermodal Terminal.