21 October 2019 – Ferrovial is looking to sell off its land in Valdebebas, a newly fashionable neighbourhood bordering La Moraleja, Operation Chamartín and the future Campus of Justice in northern Madrid. The Spanish multinational owns 27,200 square meters of land, 22,700-m2 of which are slated for residential construction. The other 4,500 m2 is for commercial use.
Knight Frank Spain is mediating the sale, and there are currently three potential bidders, all offering at least 2,000 euros per square meter. Developers would have enough space to build 240 new homes on the site and are expected to use the build to rent format, which tends to mitigate risk. The sale of the land, which is considered highly attractive, should be finalised before the end of the year.
Original Story: La Información – Ana Sánchez Juárez
Adaptation/Translation: Richard D. K. Turner