Madrid Nuevo Norte will involve investments of more than 25 billion euros. Of this, 14.128 billion euros will correspond to the acquisition of real estate assets.
The forecast is one of the main conclusions of a report drawn up by the L.R. Klein Institute for Economic Forecasting. “[It is] the largest urban regeneration project in Europe”, in the words of Paloma Martín, Regional Minister for the Environment, Housing and Agriculture of the Community of Madrid, who has assured that this project “will not involve any cost to the public purse.”
Madrid Nuevo Norte will mobilise an investment of 25.197 billion euros over its 25 years of operation. Of this, €11.069 billion will be for the project’s development, 90% of which will come from private investors. The construction of Madrid Nuevo Norte is being led by the developer Distrito Castellana Norte (DCN), currently majority-owned by BBVA, with San José and Merlin Properties as minority partners.
