CHAPTER 5: OPPORTUNITIES
5.1 Local economic development
It is thought that the revitalisation of vacant buildings could have the potential to boost local economic development, with the possibility of generating jobs and stimulating the economy. The construction sector is a significant contributor to the Portuguese economy, and there is potential for rehabilitation projects to generate employment opportunities for thousands of individuals. Such developments can also have a positive impact on other sectors, including architecture, engineering, design, property management and local commerce.
In addition to creating employment opportunities, the revitalisation of underdeveloped urban areas can lead to an increase in property values, the attraction of new residents and a boost to local commerce. This can contribute to a cycle of sustainable economic growth.
5.2 Heritage
Preservation and Urban Identity
It seems reasonable to suggest that one advantage of rehabilitating vacant buildings is that it allows for the preservation of cultural and architectural heritage. Rather than encouraging new construction that may result in the loss of a city's historic character, revitalisation offers a way to preserve the cultural and heritage identity of places like Lisbon and Porto.
Heritage preservation has been recognised by UNESCO as a positive force in the historic centres of Lisbon and Porto. Rehabilitation has led to an increase in tourism and the revitalisation of neighbourhoods, which has in turn improved the quality of life of the inhabitants.
5.3 Export of
Construction Techniques and Technologies
The housing crisis may provide an opportunity for the development of new construction techniques and technologies that could potentially be exported. The use of technologies such as 3D printing, modular construction and recycled materials could potentially allow Portugal to establish itself as a leader in innovation in the construction sector. Portugal's capacity to develop and implement innovative solutions could position the country as a benchmark in the European market for sustainable and efficient construction, with the potential to become an exporter of knowledge and advanced technologies.