Real estate : Madrid is embarking on a mammoth project

Three skyscrapers including the highest in Spain, the TGV train station the largest in the country, between 10,500 new houses and 500,000 m2 of green spaces, fu

Real estate : Madrid is embarking on a mammoth project

Three skyscrapers including the highest in Spain, the TGV train station the largest in the country, between 10,500 new houses and 500,000 m2 of green spaces, funded by an investment of 9.5 billion euros. These are only some of the countless superlatives that give the scale of the Madrid Nuevo Norte (New North), a project defined by its developers as "the largest operation of urban regeneration in Europe". The green light unanimous given last week by the city council of the capital is the conclusion of twenty-six years of negotiations between governments and private investors.

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What was long called the operation Chamartín, in the name of the station whose renewal is at the heart of the project, is also the starting point of a very long project. The cranes are expected in 2022 and the full ending of the work is to be completed in 2044, the time to set up a new district, populated with some ...

Updated Date: 08 August 2019, 00:00

Kathleen Lees

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