Aelca, a company specialising in the urban development management of land portfolios for residential development, has obtained final approval for the Redivision Project for APE 18.04 'Estación de Vallecas' in Madrid. This project, which had been stalled for 28 years, marks an important step forward in the urban development of the area.
Representing Árqura Homes, Aelca has led the Compensation Board since 2019, when it acquired the majority of this land. Over the past five years, the company has played a key role in the management of urban development milestones in the area, which has been blocked since the constitution of its Compensation Board in 1999.
The project is located in a consolidated urban enclave in the District of Vallecas and contemplates the creation of new plots for the construction of approximately 195 homes. In addition, the plan includes connecting the urban nucleus with the station, significantly improving the accessibility of the area. It also envisages a revitalisation of the neighbourhood with new facilities and green areas.
Aelca points out that the approval of the reparcelling project has not been simple, as it has required costly and complex management. Before its approval, it was necessary to carry out works to divert an underground fibre optic cable that crossed part of the land, so that it could be released and contributed to the reparcelling.
With the definitive approval of the Reparcelling Project by the Madrid City Council's Governing Board on 11 January, together with the approval of the Urban Development Project in November, the urban development management of the area was concluded. The land is now ready for construction work to begin, which is expected to start in the middle of this year.
The APE 18.04 'Estación de Vallecas' area has a total surface area of 20,527 square metres and a buildable area of 19,512 sqm. This approval represents a significant contribution to Madrid, a city currently facing a shortage of land for development.