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Madrid Gives the Go-Ahead for 51,600 Homes in the Valdecarros Development Project

The capital's City Council has approved the management agreement for the new neighbourhood in the south of Madrid, which will be the target of investments of around 7.5 billion euros.

The capital will continue to expand towards the southeast. The full Madrid City Council approved the management agreement for the development of Valdecarros last Friday. More than 51,600 homes will be built in the new neighbourhood there.

Mariano Fuentes, Madrid City Council’s Delegate for Urban Development; Luis Roca de Togores, President of the Valdecarros Compensation Board; and Begoña Villacís, Deputy Mayor of Madrid, were present at the signing ceremony.

Valdecarros is one of the last large pockets of land in Madrid. Located between Ensanche de Vallecas and the Parque Lineal del Manzanares, it is one of the Southeast Developments, along with Los Berrocales, Ahijones, El Cañaveral and Los Cerros.

The new development, which will cover an area of 19 million square metres and 687 hectares of green spaces, will see more than 51,656 homes will be built, of which around 54% will have some type of protection (28,410 units).

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