Valdecarros will accelerate the urbanisation of the first three stages of Madrid’s newest neighbourhood, providing enough land to put some 13,500 homes on the market starting in 2024, according to its Compensation Board.
By 2039, Valdecarros plans to place more than 51,000 homes on the market, 28,000 of which will be subsidised, making Madrid’s largest residential development.
The municipality will invest more than 200 million euros of the 1.427 billion euros needed for the project as a whole to facilitate financing. In addition, the Valdecarros Compensation Board expects to reserve land to self-finance most of the development costs.
It has also worked with KPMG to develop a platform to boost sales and attract new investors as owners, which will simplify the reparcelling process.
