Cordish to invest 2,200 million euros in Madrid for the development of Europe’s largest entertainment centre

Cordish to invest 2,200 million euros in Madrid for the development of Europe’s largest entertainment centre

The macrocomplex will occupy 134 hectares and, according to the promoters, will create more than 56,000 jobs, directly and indirectly, in the building and operation of the centre, generating an impact on the Madrid economy of between 4,000 and 6,000 million in the first five years. The project hopes to attract five million visitors in its year of launch.  

Live! Resorts Madrid is oriented towards large scale entertainment, with more 100,000 m2  dedicated to entertainment, restaurants and 400 shops, 2,700 hotel rooms (which can be expanded to 4,000), 275,000 m2 for conventions and 45,000 m2 in office space. There will also be a games zone, which will take up between 5 and 10% of the total project area, and no residential component is planned.

Joseph Weinberg, member of Cordish, has stated,  “We believe that Madrid is the ideal location for our first integrated European project. It is a city with a great deal of entertainment and convention tourism with great infrastructures. Also, the norms and legislation which this kind of resort demands exists in the Community of Madrid”, adding, “We do not ask for any changes in the law, nor for any public grants”.

As for the length of time for the project, the representative for Cordish remarked, “Once we have obtained all the licenses, the project will be completed in 18 to 24 months”.

If the application for the operating license for Live! Resorts Madrid is successful, and the necessary authorizations obtained, the Cordish group is open to the creation of other entertainment centres in other autonomous communities; some of which are already under study and analysis.

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