A new urban development has received the green light in the Community of Madrid. Specifically, in Pozuelo de Alarcón, one of the areas with the highest incomes per capita in the country and, therefore, with the most expensive house prices in all of Spain. The project is called Montegancedo, a new neighbourhood where more than 1,000 homes are going to be built. And several of the major property developers in the market, such as Aedas Homes and Pryconsa, have already expressed their interest.
The Town Hall of Pozuelo de Alarcón, chaired by the Popular Party’s Susana Pérez, has given the green light to the reparcelling project for the urban sector of Montegancedo. In this way, approval has been given to the construction of an area spanning 688,470 square metres, of which more than 215,000 sqm corresponds to residential space. This building project will allow for the construction of 1,050 homes, in one of the locations with the highest demand for high-end residential properties in Spain. The Town Hall of Pozuelo will be entitled to 300 of the 1,000 units, which will be incorporated into the municipal housing stock on municipal land.