Once Government support was obtained, Ferreira led the bid to the Bureau of International Expositions, which in 1992 declared Lisbon the winner, against the other contender Toronto, Canada. State company Parque Expo was formed to make the Fair a self-sustained event, with revenue coming from admission tickets and, especially, sales of real estate and parcel lots at the Expo's emplacement.
The first Commissioner of Expo '98 (and Parque Expo's CEO) was António Cardoso e Cunha. He was replaced in 1997 by José de Melo Torres Campos, after a general election changed the governing party.
The area chosen for the Expo '98 was a 5 km (3.5 mile)-wide strip covering 50 hectares at Lisbon's east end alongside the Tagus river.
Expo '98 was fully built from scratch. Every building was pre-sold for after-Expo repurposing thus ensuring that, after the Expo closed, the site would not be left semi-abandoned, as had happened with previous expos, particularly Seville Expo '92
To support the expected flux of visitors, an extensive access program was devised, including:
There were additional thematic pavilions dedicated to Water, Sea Knowledge, Virtual Reality (paid), Future, Oceans, and Oceanophilia; and exhibitions: "Leonardo Da Vinci@expo98 - La Dinamica dell'Acqua", "Roads of the Porcelain", and "Shells and Man".
Additional attractions included: a 15,000-seat Utopia Pavilion with a resident theatrical show, Camões Theater, nautical exhibition, Garcia de Orta tropical gardens, Swatch Pavilion, "World of Coca-Cola" exhibition, Expo Adrenalin, 120 m-tall observation tower (paid) , funicular (paid), and nightly water-show Acqua Matrix.
There were 5,000 musical and theatrical shows, both open-air and indoors, on a total of 14 fixed stages.
The Oceans Pavilion, built to be the Lisbon Oceanarium after the Expo closed, had the longest lines. Other popular pavilions, with lines of up to five hours on busier days, included Portugal (architecture by Álvaro Siza Vieira), Spain, Sweden, Germany, and Virtual Reality.
Total number of visitors reached 10,128,204, for a duration of 132 days. Admission prices (adult) were 5,000 escudos PTE ($34 USD at then-exchange rates) for one day, 12,500 escudos ($84) for three non-consecutive days, and 50,000 escudos ($334) for three months.
The Expo logo symbolizes the Sea and the Sun. It was conceived by Portuguese Augusto Tavares Dias, creative director in an advertising agency, and selected from 1,288 entries.
The Expo mascot was conceived by the Portuguese duo of painter António Modesto and sculptor Artur Moreira. It was selected from 309 entries. It is named Gil, after Portuguese navigator Gil Eanes. The name was chosen by high-school student José Luís Coelho, from 765 entries.
Expo '98 closed its doors on September 30 1998. The site remained closed until February 1999, when it reopened as "Parque das Nações" (Park of the Nations), a free-access park, keeping the gardens, Oceanarium (Europe's then largest aquarium), observation tower, funicular, and the Virtual Reality pavilion. Other buildings were repurposed for the opening, including:
Within Parque das Nações, every other building or vacant parcel lot was sold for office or living space, to offset the Expo's costs. The Virtual Reality Pavilion is currently scheduled for demolition.
The area today is thriving, modern, stylish, and safe, attracting 18 million tourists a year to its gardens, museums, commercial areas and modern buildings. It has also become permanent residency for up to 25,000 people and one of Lisbon's premier business centers, with many multinational corporations basing their headquarters in its main avenue.
Parque Expo has lived beyond Expo '98, not just being still the manager of Parque das Nações but, having acquired the know-how in urban conversion and planning, sells its advising and consultancy services to other cities around the world.