Madrid City Council has initially approved the urbanisation project for the ‘Finca Valdecarante’ Incorporated Planning Area (API) located on Calle Pirotecnia in Vicálvaro district.
The project is divided into 6 plots for tertiary use. Iberdrola Inmobiliaria owns 3 of the plots, which span 21% of the total surface area, whilst Madrid City Council owns the largest plot, spanning 69% of the area. The other two plots – covering the remaining 10% – are owned by small investors. The energy giant’s real estate subsidiary is considering using the plots for the development of logistics or industrial warehouses, say sources close to the operation.
Read the full article in Spanish.