LISBON — The Portuguese army is hoping to make €170 million ($193 million) by selling or renting out 60 properties — among them barracks, forts, airfields and military hospitals — to finance its modernization program, an army spokesman said on Tuesday.
The government's objective is to collect €172 million ($195 million) — €32 million ($36 million) in 2015 and €20 million ( $22 million ) every year after that for seven years — according to a bill introduced in parliament in early January.
A final list of properties was not available, but at least a dozen forts and barracks across the country and three army hospitals in the capital Lisbon were known to be up for sale.
Some of these buildings are part of Portuguese history like the Castelo do Quijo in the northern city of Porto which has kept watch over the Douro estuary since the 17th century and the 19th century Fort do Alto do Duque which overlooks the touristy Belem quarter in Lisbon.
This property sale falls under a wider army restructuring program. On Thursday, the government announced it was cutting the number of soldiers by about 10 percent to 31,560.
Portugal's austerity program after a €78 billion bailout has seen salaries and pensions cut for civil servants and members of the military.