Banco de Portugal plans to invest EUR 225 million in the new headquarters

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Briefings

The Banco de Portugal signed a contract with Fidelidade to invest 225 million euros in a new headquarters, reducing the building footprint from two to one structure while retaining the historic Baixa lisboeta site. The new A1 building will cost 160.09 million euros in core & shell, with fit-out estimated at 65 million euros over two years, saving approximately 10 million euros annually in operating costs compared to the original plan. The project is scheduled to begin in 2030, with the new headquarters occupying only one of the two buildings originally planned for the mega-project in Entrecampos.

Key points

The new A1 building will cost 160.09 million euros in core & shell, with fit-out estimated at 65 million euros over two years, saving approximately 10 million euros annually in operating costs compared to the original plan.

Context

The Banco de Portugal, led by Governor Álvaro Santos Pereira, announced the investment in July 2026, replacing the original 2024 contract that included two buildings. The project is located in Entrecampos, utilizing the former Feira Popular site, and aims to modernize the headquarters while preserving the historic Baixa lisboeta location with its museum and treasury services.

Limitations

The evidence covers the initial investment decision, cost breakdowns, and projected timeline up to 2030. It does not include final construction progress, specific operational outcomes, or long-term financial performance data beyond the initial estimates.

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