Technology market as a driver of historic area revitalization: insights from the case of Recife

Abstract

This study addresses the role of the technology market as a driver for the revitalization of historic areas, with a focus on the Porto Digital Project in Bairro do Recife (Recife-PE), Brazil. The study identifies two central themes: (i) the success of this initiative as a policy for heritage asset restoration within the area and (ii) the contradictions emerging from the rise in remote work, which compromises its sustainability as a historic area revitalization policy. To explore these issues, we analyzed the fiscal incentives granted to technology firms, real estate trends in the district, the innovation cluster's limitations in attracting complementary uses, and the resulting challenges to the sustainability of the revitalization policy adopted. The study concludes by discussing future perspectives and ongoing challenges.