Definitive approval of Madrid Nuevo Norte delayed until March

Definitive approval of Madrid Nuevo Norte delayed until March

The documentation concerning the transfer of the administration of a stretch of the M-603 to the capital’s municipality, which affected the Madrid Nuevo Norte’s urban development was missing. So, the municipality provided the missing document on the 27th of November and the administrative inquiry which will be evaluated was finished on this date.

Furthermore, the four month maximum period the autonomous region land law determines for the Community of Madrid to authorise an urban plan, carry out an environmental impact assessment and fix it, has started, which means that it is still on time.

The Ayuntamiento de Madrid (Madrid Municipality), however, clarified that this circumstance will not delay the start of the construction works, predicted to for the end of 2020 and with an estimated duration of 24 years.

The Department of Environment specified that a specific 10 employee work group was created to analyse the documents which constitute the Madrid Nuevo Norte. In this way, they want to ensure the Project will be developed «with all the necessary guarantees, since the domestic and foreign investors, as well as the citizens of Madrid need legal safety and assurances».

This project, which will include the construction of more than 10.000 dwellings and the new Madrid’s financial city, could extend for a further 20 years.

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