Madrid Nuevo Norte subastará este noviembre los primeros suelos para 200 viviendas

Madrid Nuevo Norte, a project led by Crea Madrid Nuevo Norte (CreaMNN), is set to auction off the first plots for 200 residential units in the northern part of the capital city. The venture, backed by BBVA, Merlin, and San José, aims to build towers housing a total of 200 dwellings in the Las Tablas Oeste area. The sale will take place in late November, with a minimum price of 3,500 euros per square meter, according to the company's CEO, José Ignacio Morales Plaza.

The two parcels up for auction cover approximately 2,000 square meters each and offer 10,000 square meters of residential development potential, along with 2,000 square meters of commercial space in two floors. This urban development project, which has been in the works for 34 years, aims to gradually incorporate partners to share its vision for the future of Madrid. The urbanization work is expected to begin in the second half of 2027, with the first residents moving in by December 2029 or early 2030.

Las Tablas Oeste is the first of four areas that Madrid Nuevo Norte has initiated construction in, covering a total of 305,000 square meters. The project will see the construction of 741 dwellings, with 38% owned by the Madrid City Council. The residential plots are held by CreaMNN (four units in full ownership and one in joint ownership) and the city council (one unit for protected housing and one for freehold).

The city plans to transfer these plots to the Empresa Municipal de la Vivienda y Suelo (EMVS) for development, with the intention of renting the resulting homes.

Apart from the residential plots, there are also plots intended for tertiary use, located in the southern sector of Las Tablas. These require 36 months of urbanization due to greater technical complexity, including the burial of a railway line and an electrical line. These five parcels amount to 123,000 square meters of tertiary development potential.

Unlike residential land, tertiary land will not be auctioned off, as the scale and types of projects vary significantly for each investor. CreaMNN will instead engage in bilateral negotiations with interested operators and investors.

Morales emphasizes that all funds raised from the project will be used to finance and expedite construction in the remaining three areas (Malmea-San Roque-Tres Olivos, the Business Center, and Chamartín Station). The company maintains that litigation is an issue that has been "absolutely closed," with all court rulings favoring the project. The company is confident in its position and is backed by consistent judicial precedent.