Smarttia / Real Estate / Insights

Work begins on Madrid Nuevo Norte, the largest urban regeneration project in Europe, highly committed to sustainability

November 7th, 2022 / Real Estate

  • · Smarttia is one of the main land owners in this development

After more than 28 years of planning, and once the final approval of the project was obtained in July 2020,this week the works of Madrid Nuevo Norte have started. It has done so with the start-up of the foundation and support works to cover the tracks located in the southern area of the Chamartín station. In this way, the main public and private developers, among which is the company Smarttia, of this ambitious urban development have inaugurated the works, in which it will be key next year, 2023.

With the coating works, action will be taken on a total of 212,000 square meters of tracks (34,900 m2 in the south and 177,015 m2 in the north),for which it will be necessary to build a total of 2,407 foundation piles and 1,132 vertical structures that go on the surface and on which the beams rest.

As a result of the start of these first works, 86 piles of the 312 that will go in the southern head have already been installed, and 83 piles of the 214 planned in this same area.

The plans set for 2023 the formalization of the urban initiatives of its different areas, constitution of the Compensation Boards, and the approval of urbanization projects.

This project plans to mobilize 25,000 M€ of investment (11,000 M€ for works and purchases of land and 14,000 for real estate transactions) for the start-up of 10,500 homes and more than one million square meters of offices.

The Madrid Nuevo Norte project will also provide the community with new public facilities, such as educational and social centers,and a large green space of reference for citizens.

In fact, this project has become the first urban project in Europe to simultaneously obtain the sustainability pre-certification ‘LEED for Communities Plan and Design’ with gold level as well as the provisional certificate ‘BREEAM ES Urbanismo 2020’, two of the most prestigious sustainability labels in the world.

With this recognition, Madrid Nuevo Norte becomes an “international pioneer”, as it is the first urban project in Europe to obtain both provisional certificates, which makes it “an international benchmark in the field of sustainable urban development.