In the houses of our history

The Revive Natureza Fund aims to recover and enhance the value of public properties, vacant for decades, mostly located in areas with natural heritage values, which have a high potential to attract tourists, taking into account their original functions, history and geographical specificities.

The Fund

The Revive Natureza Fund, created by Decree-Law 161/2019 of October 25, aims to upgrade and enhance vacant public buildings, with the goal of making the conservation, recovery, and safeguarding of the values in question compatible with new uses that benefit local communities, attract new visitors, and attract new residents.

Structure, Management and Objectives

The Revive Natureza Fund is an instrument for enhancing the built and natural heritage and promoting regional development by stimulating activities for tourism purposes.

The Fund is owned by the Portuguese State, represented by Estamo, Participações Imobiliárias, S.A., the Institute for Nature Conservation and Forests, I.P. and Turismo de Portugal, I.P.

The management of the Fund, ensured by TF Turismo Fundos – SGOIC, SA, in accordance with the provisions of Ordinance No. 389/2019 of 29 October, aims at the implementation of public policies for regional and local development, which promote


  • The creation of local employment
  • The dynamization of local economies
  • The contribution to the systematic strengthening of local supply networks
  • The use of local products
  • The sustainability of the territories, in environmental, social and economic terms

Activities and Criteria

The Fund carries out its activity through the integration, as assets, of rights related to real estate under public or private regimes of the State, local authorities, public institutes or other entities.

The Fund promotes the attribution of rights over real estate to public or private entities, with a view to its requalification for tourism or related purposes, generating economic impact in the locality or region where it is located.

The allocation of property exploitation rights must consider the Fund’s objectives and the public policies for regional and local development, valuing the following criteria:

    • Operation of the property by entities with headquarters or residence in the municipalities where the property is located or in adjoining municipalities
    • Creation of local jobs
    • Social, environmental and innovative characteristics for the sustainability of the territories
    • Integration in networks that offer products and experiences in the territories where they are located
    • Other aspects that show a positive impact on the localities where the properties are located


Decree-Law 161/2019 of October 25 establishes the purposes of the fund, both with respect to real estate corresponding to the initial allocation and with respect to real estate that, in any legally permissible manner, becomes part of the fund’s assets or is managed by the fund. There are, however, other documents that define the guidelines that guide and limit the activity of the Fund, namely the Fund’s Investment Policy and the regulations associated with the operation of its activity.