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Bidding Starts for Residential Plots on Sale by Madrid City Council

The ten plots of land put out to tender by the Madrid City Council for more than 30 million euros have attracted the interest of large investors, especially the land located in Valdebebas.

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The Madrid City Council, through its Urban Development Department, has opened a public tender for ten plots of land for the construction of 238 market-priced homes. The municipal government expects to raise more than 30 million euros from the sale.

The tender is for the sale of ten plots of land from the Patrimonio Municipal del Suelo. The land consists of nine lots intended for free residential use and will be awarded by open bids.

Before the tender was published, the plots “had already aroused considerable interest, and several people had contacted the Urban Development Department of the City Council asking for information on specific plots,” sources from the Madrid City Council told Brainsre.news.

These plots had not been put out to tender until now and have a total buildable area of more than 19,000 square metres. The deadline for submitting bids opened on 29 May and ends on 31 July 2021.

Read the full article in Spanish


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