Porto City Council trades homes for cash and loses millions

The Porto municipal executive, led by a PSD/CDS/IL coalition, recently approved accepting 1.3 million euros in cash from seven private developers in lieu of receiving construction areas for affordable housing, which could have been worth over 11 million euros. Following public backlash and criminal complaints, the mayor, Pedro Duarte, announced plans to revise the municipal regulations to mandate the provision of actual housing units for hotel and short-term rental projects, and is considering revoking the recent approvals.
