The Madrid City Council has put nine plots of land out to tender for more than 30 million euros. The land is sufficient to build 234 homes, which will be sold at market prices.
The retail giant reached an agreement with the socimi Inbest Prime to open an 8,000 m2 Zara megastore and another 1,200 m2 store for its Stradivarius brand.
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.
According to data from the real estate big data platform Brainsre, 14,910 homes in 376 developments are expected to be completed across the region in 2021. More than 6,000 of these, in 130 projects, are located in the capital, Madrid.