On Friday, Madrid City Council gave the green light to the urban development of Los Cerros. Specifically, the Madrid Executive and Los Cerros Compensation Board signed an urban management agreement that will involve the creation of a new real estate area spanning almost 5 million square metres, where 14,276 homes will be developed.
“Los Cerros is an area spanning 500 hectares, in the district of Vicálvaro, next to El Cañaveral. It is a strategic location for communications and growth. More than 14,000 homes will be developed in Los Cerros, 50% with some type of subsidy (7,138 units) and there will also be an area of economic activity to avoid the dormitory town phenomenon”, explains Alejandro Fernández Díaz, President of the Los Cerros Compensation Board.
Read the full article in Spanish.
