Acciona Real Estate acquires land in Madrid Nuevo Norte

Acciona Real Estate acquires land in Madrid Nuevo Norte

Acciona Inmobiliaria has acquired land in the Malmea-San Roque-Tres Olivos area, thus joining the group of major developers already involved in this project, according to El Economista.

In addition to the 400,000 square metres destined for green areas, Madrid Nuevo Norte plans to build 10,500 homes to cover the residential needs of the northern part of the capital, 20% of which will be publicly subsidised.

The Malmea-San Roque-Tres Olivos area, in Fuencarral, with an area of almost 1.03 million square metres, is the part of the project with the largest amount of residential land available. Specifically, of the 965,321 sqm of buildable area, approximately 714,338 sqm will be used for housing, resulting in around 7,000 units. For its part, the Business Centre will house around 2,600 homes and Las Tablas Oeste, around 750.

It should also be noted that several developers are in negotiations to obtain land for the development, following the definitive approval of the project by the Madrid High Court of Justice last February.

Adif currently holds the largest percentage of land, 25.3% of the area in question. However, this stake is expected to pass into the hands of CreaMNN, the developer of the project backed by BBVA, Merlin Properties and Sanjose, before the end of the year.

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