• AEDAS Homes and Habitat become the new owners after a bidding process in which offers were received from the country’s main developers.
  • Three plots of land are divided on which two developments with a total of 190 new free housing units are expected to be built.
  • The cost of the land amounts to approximately 1,050 euros per square meter.

Madrid, May 22, 2023. Valdecarros has successfully completed the first round of land auctions for the development, in which large national developers bid for the three residential plots available in the first stage of this new area in Madrid.

Habitat has been awarded one of the plots, with a buildable area of 4,441.78 square meters, and Aedas Homes the other two, with a buildable area of 5,669.15 and 7,372.17 square meters, respectively. The final amount of the three acquisitions has been over 18 million euros, with a repercussion of the land of about 1,050 euros per square meter.

The two developers will build a total of 190 free-standing homes in two developments, which will be located very close to Madrid’s Avenida del Mayorazgo. These three auctions confirm the viability of the Valdecarros Financial Plan approved in 2021, which aims to cover the development costs of the area. The development of the first stage is at an advanced stage, while the second and third stages are being put out to tender.

The three plots are part of the first of eight consecutive stages in which this urban development project, the largest in Spain and one of the largest in Europe, will be developed. The construction of the first properties of this first stage will begin in 2025.in its first three stages, Valdecarros will put 13,580 affordable housing units on the market, of which more than a third will be publicly owned.

Valdecarros is expected to continue marketing new residential plots in the second and third phases during the year through auctions.

A few weeks ago, the Governing Board of the Madrid City Council initially approved the adaptation of the Valdecarros urbanization project to be executed in eight stages, and finally approved the expropriation project for the expropriation of the owners who are not members of the development’s Compensation Board.

Following municipal approvals, total investment in urban development will amount to 1.8 billion euros. Including the building works, the new Madrid neighborhood could contribute more than 7.5 billion euros to the capital city as a whole, and will create some 450,000 direct and indirect jobs.

Over the eighteen-year period planned for the development of the eight phases, it is projected to construct 51,000 new homes, which is one-third of the 150,000 homes planned for the entire city of Madrid during the same period. Out of these 51,000 homes, at least 55% will have some form of affordable housing protection, making the neighborhood the epicenter of affordable housing in the city in the medium and long term.

Valdecarros will be built on an area of over 19 million square meters, of which at least 37% will be dedicated to green spaces. The neighborhood will host a minimum of 110,000 trees, in addition to those located in urban parks, ensuring that every home in the district is within a distance of less than two hundred meters from a green area.

The new neighborhood integrates with the rest of the urban developments in the southeast of Madrid to facilitate mobility in the city. The proximity and quick access of Valdecarros to major highways such as M-45, M-31, and M-50 will help strengthen cross-city mobility and alleviate congestion at its main entrances. Sustainable and ecological mobility will also be promoted, with 127 kilometers of dedicated cycling lanes available right from the start. The neighborhood will also be traversed by a high-capacity rapid transit bus system that will enhance public transportation and facilitate mobility.

It will be a neighborhood easy to navigate on foot, with virtually flat terrain where nearly 90% of its streets will have a slope of less than 3%. To achieve this feat, it will require moving 30 million cubic meters of soil, with an additional financial effort of 250 million euros.