The European Investment Bank (EIB) and the society led by Mota-Engil have signed an agreement for a EUR107 million (USD 115 million) loan to finance the Hospital de Lisboa Oriental in Marvila, east of Lisbon, Portugal.

The consortium, primarily composed of entities from the Mota-Engil Group, was selected through a public-private partnership (PPP) to spearhead the development of the upcoming hospital project. The facility is set to house 875 inpatient beds, replacing the existing healthcare facilities in the city center of the Portuguese capital. The forthcoming hospital will supplant six antiquated hospitals spanning over 100 buildings in the city center. The construction of the project will have a gross construction area of approximately 180,000 m², with 2,945 parking spaces to be operated by the private partner.

The hospital's strategic location ensures convenient access from the expanding suburban areas of Lisbon, including reliable public transport options. Not only does the construction of the hospital address the need for modern healthcare facilities, but it also aligns with plans to revitalize the somewhat neglected area near the old harbor in the city.

The estimated cost of the entire project is approximately EUR380 million (USD 408 million), with construction slated to commence in early 2024.