Economics by Tile International
Madrid to attract 10 billion euros of investments in real-estate and urban development projects
Major real-estate and urban development projects will upgrade the city’s image over the next few years.
The city of Madrid will soon be the target of around 10 billion euros of investments in major real-estate and urban planning projects, upgrading the city’s image in coming years.
Madrid Nuevo Norte, the most ambitious project, involves construction of three skyscrapers and 10,500 flats in the vicinity of the Chamartín train station in the north of the city for an investment of 6 billion euros.
Other projects include expansion of Barajas airport (3 billion euros); construction of a Four Seasons hotel complete with shopping area and luxury residences following the restoration of seven adjacent buildings in the city centre (525 million euros); redevelopment of the Santiago Bernabeu stadium (400 million euros); and the Caleido project for construction of the so-called Quinta Torre (Fifth Tower) close to another four distinctive skyscrapers to the north of Paseo de la Castellana.
Image credits: Madrid Nuevo Norte, Distrito Castellana Norte SA