Carmena Approves Los Berrocales, the Largest Housing Development in the South of Madrid

24 January 2019 – El Confidencial

The Government Board chaired by Manuela Carmena will give an important boost to the urban development area of Los Berrocales on Thursday. It is the largest in the city and the first to receive the green light of the sites that comprise the project known as the Developments of the Southeast (Los Desarrollos del Sureste). The Town Hall of Madrid and the Compensation Board for the area have finally agreed the initial text for the urban planning agreement for the management of the buildable land, which will see the construction of 22,000 homes on the largest land bank in the south of the city. 50% of the homes, around 11,000, will be dedicated to social housing.

The General Plan for the city of Madrid obliges the parties involved to sign an urban planning agreement for the management of this area. The Administration and the urban planning entity are signing the commitments assumed by both for the development of the area. According to comments made to this newspaper, the agreement reflects the obligation of the Compensation Board to urbanise the land (which spans 8,305,812 m2 in total) over the course of six phases, during which the planned buildings will be constructed and the services implemented. The project will run until 2034. Moreover, the agreed texts establish the criteria to ensure the equitable distribution of profits and charges between all of the owners (…).

The total buildability amounts to 3.3 million m2, of which 2,247,121 m2 will be dedicated to residential use. 50% of that will be for private housing, 31% for price-controlled housing and 19% for social housing (that latter two percentages correspond to 11,000 homes). The rest will be dedicated to industrial, tertiary, office and commercial use.

In terms of facilities, more than 2 million m2 will be converted into green space, 1.9 million m2 will be used for public facilities and services, 1.7 million m2 for infrastructure and 228,830 m2 will be used for social integration homes.

The agreement reached with the Compensation Board represents a victory for the municipal Government and specifically, for the Sustainable Urban Development department, led by José Manuel Calvo, five months before the end of the current legislature (…).

Following the green light from the Governing Board, the text of the agreement must be submitted for public consultation – a comment period – and afterwards, it will go to the municipal plenary. From that moment, the urban planning entity will be able to start work on the execution of the project.

Original story: El Confidencial (by Paloma Esteban)

Translation: Carmel Drake

Town Hall of Málaga & Sareb Agree to Constitute a Compensation Board for the Repsol Plots

10 May 2018 – Sareb

The Town Hall of Málaga and Sareb held a meeting this morning in Málaga to continue with the steps required to develop the land that they co-own in the city, on the site of the so-called Repsol plots.

At the meeting, both parties agreed to constitute a Compensation Board for these plots to push ahead with the environmental improvement and urban development projects, the latter of which will include a large urban park in the first phase located between the districts of Carretera de Cádiz and Cruz de Humilladero.

The mayor of the city, Francisco de la Torre, attended the meeting, along with the councillors for Town Planning, Environmental Sustainability and the district of Carretera de Cádiz, Francisco Pomares, José del Río and Raúl Jiménez, respectively. For its part, Sareb was represented by the Director of Institutional Relations, Soledad Borrego, the Director of Real Estate Development, Andrés Benito, and the Director of Legal Counsel for Transactions and Real Estate Management, Jesús Cantal. Experts from both sides also attended.

Original story: Sareb

Translation: Carmel Drake