for restoration work, at rates of interest considerably lower than market rates.(‌) 80% of the investment in private restoration has been carried out on the basis of agreements (‌)Private rehabilitation work between 1988 and 1997 accounted for a total private investment of more than 14,000 million pesetas and subsidies in the form of grants of 3,150 million pesetas, affecting 14,800 commercial premises and dwellings, a figure that represents more than 20% of the private buildings in the district Investments in public security and improvement in accessibilities were equally relevant for the historical waterfront neighborhood, reversing the loss of residents registered in the eighties. Local commerce was at risk and also benefited from the waves of change.
During the same period (1980-2000), Lisbon lost about 200.000 inhabitants, and continued to loose population while new neighborhoods grew in other directions away from the river. There was not a beneficial dialogue between the Port Authority and the Municipality. During periods of economic growth big private investments are made in private condominiums and shopping centers. These constructions occupy dense urban areas near the historic center. Shopping centers duplicated the space for retail commerce. Four shopping centers, Colombo, Vasco da Gama, Alvalade and Chelas, include underground stations, connect services, commerce, entertainment and attract crowds. Flocks of people who get caught in the illusion of enjoying public space, although it is a much private one. Margaret Crawford argues that the phenomenon fulfills three important needs of our society, consumption, voyeurism, and show. The window shops define space, corridors just like streets, car free, and the show is complete with the sparking lights of a world without garbage or poverty. This is the victory of consumption as spectacle. Most public spaces either do not exist or are frequently an ambush serving commercial purposeswhich characterize nowadays situation. The worst part of form follows capitalism becomes apparent in many private condominiums as they are designed according to the developer financial interests.
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