It was Thursday, 25th August 1988 and at 5 a.m. a fire alert is given in Chiado.
The Chiado fire broke out at Grandella Warehouses, on the side of Carmo street, in Lisbon. In the heart of downtown Lisbon several buildings were devoured by the flames and in less than 5 hours, leaving that historical area in ruins. The fire consumed 18 buildings between Garrett street and Nova do Almada street, mostly shopping and services areas.
More than 1200 firemen fought the great fire. There were two fatal victims, a fireman and a resident, and the despair of those who lost their property or their job.
But the recovery began and was completed in 1999.
The emergency office, which then arose, to assess the damage and the reconstruction worked in the then Insurance Institute of Portugal, now ASF – Insurance and Pension Funds Supervisory Authority. The insurers will have paid the equivalent, today, of 20 million euros in damages.