Madeira reallocates €7.83 million for seafront promenade rehabilitation
An order revises the multiannual allocation of costs under the programme contract with Sociedade Metropolitana de Desenvolvimento, S.A., for the rehabilitation of the Praia Formosa - Socorridos Seafront Promenade. The maximum amount remains €7,828,876.35, allocated between 2023 and 2029.
The Regional Government of Madeira has revised and reallocated the budget costs for the rehabilitation of the Praia Formosa - Socorridos Seafront Promenade. The investment is co-funded through a programme contract between the Autonomous Region of Madeira and Sociedade Metropolitana de Desenvolvimento, S.A., under PIDDAR 52430.
Order No. 587/2026 of 14 October sets a maximum total amount of €4,828,876.35, excluding VAT, and allocates the costs across the following financial years:
- 2023: €3,080.00;
- 2024: €420,010.80;
- 2025: €644,101.06;
- 2026: up to €28,804.10;
- 2027: up to €1,476,116.58;
- 2028: up to €1,662,178.97;
- 2029: up to €594,584.84.
The amounts allocated to each year may be increased by any balance carried forward from the previous year. The 2026 funds are included in the budget of the Regional Secretariat for Equipment and Infrastructure; costs for 2027 to 2029 will be included in the respective annual budgets. The order enters into force on the day following its publication.
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