Tag: macro-complex

Hard Rock Is Commissioned To Construct BCN World

5 July 2017 – Eje Prime

After years of toing and froing, BCN World has a new owner. In the end, the macro-complex is going to be constructed by the US group Hard Rock, which was the only firm to submit a firm offer and which has contributed €3 million as a guarantee to advance with the project, as the company explained in a statement.

Last Friday was the deadline for the submission of the designs to construct a recreation and tourist macro-complex, however, international candidates Genting Group and Melco Crown withdrew from the process before that date. The latter was going to be Hard Rock’s partner in the project.

The next key date is 10 July, when the details of the project will be revealed. Specifically, the architectural proposal and the economic feasibility studies. Then there will be a 45-day period for the award to be made public, although we already know that only one bid has been submitted.

Original story: Eje Prime

Translation: Carmel Drake

Wanda’s Plans For Edificio España Get Green Light

30 January 2015 – Expansión

Yesterday, the Governing Board of the Community of Madrid gave the green light to the refurbishment of the Edificio España, owned by the Chinese group Wanda, controlled by the magnate Wang Jianlin.

The businessman, who also owns 20% of the football club Atlético de Madrid, will invest €114 million in the renovation of the property, located in Madrid’s Plaza de España, which it purchased from the Santander Group for €265 million. Inside the Madrid skyscraper, he will create a luxury hotel, more than 300 homes and a retail space, which he plans to expand to 15,000 sqm.

The permission to refurbish the Edificio España has been granted in parallel to the negotiations that the Wanda Group’s team is conducting with the Madrid and central Governments to create a macro-complex on the site of the old barracks in Campamento, in Madrid.

To this end, the Secretary of State for Defence, Pedro Argüelles, met yesterday with the CEO of the Wanda Group, Laurent Fischler, to discuss the purchase of that land, which covers around 200 hectares, and where Jianlin plans to invest €3,000 million in the development of a residential, housing and leisure complex.

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake

Wang Jianlin Plans To Invest €3,000m In Macro-Complex In Madrid

22 January 2015 – Expansión

Following his investment in Atlético de Madrid, the Chinese tycoon, owner of the Edificio España, is studying the possibility of building a residential and tourist complex that would also include casinos. He is considering two locations: Campamento and Venta de la Rubia.

Yesterday, for the first time, the Chinese businessman, Wang Jianlin (pictured), owner of the conglomerate Wanda Group, confirmed his plans for the creation of a residential and leisure macro-complex in Madrid. “We have already had a meeting with the Spanish President and it is now up to Spain to take a decision”, said Wang in China, after signing an agreement to acquire 20% of the Atlético de Madrid football club.

The objective of Wang Jianlin, who has assets of more than $13,200 million, according to the most recent Forbes ranking, is to invest at least €3,000 million in the creation of an upmarket complex that would include up to 15,000 luxury homes. The development would also house leisure areas, such as a retail complex, theme parks and casinos. In fact, Jianlin has already hired the project’s creator from the gaming magnate Sheldon Adelson in Macau, say sources close to the entrepreneur.

Location

In terms of the location of the macro-complex, Wang Jianlin and his team have two options. On the one hand, the site in Venta de la Rubia, in Alcorcón, where Sheldon Adelson was going to build the failed Eurovegas project. On the other hand, an old barracks site in Campamento, in Madrid, which is currently owned by the Ministry of Defence.

In favour of the former are its location, close to Madrid’s tourist attractions, such as the Royal Palace, and crucially, the fact that it has a single owner, the central Government, which would massively simplify future negotiations regarding construction. Against, is the price that Jianlin would have to pay for the site, which covers almost 9 million square metres, and the fact that a development plan already exists and modifications to it may delay construction.

The second option, in Venta de la Rubia, is close to Santander’s business park, as well as to the land where Atlético de Madrid plans to build its new sports facilities; in addition, Wang would be allowed to create a tailor-made development plan for the site. Furthermore, the owners of the land, who are united through a Compensation Board and which include companies such as Metrovacesa and the Urtinsa group, would be willing to hand over some of the land for free – something they already offered to Adelson, according to real estate sources – since the rest would be re-valued.

Regardless of the location that Wang Jianlin and his team finally choose, the construction of this macro-complex would revitalise this area to the south-west of the capital. “The goal is to convert the Paseo de Extremadura into the new Castellana, and develop the whole of the surrounding area through the Jianlin complex”, explain sources close to the businessman.

“He is keen to start very soon”, said Enrique Cerezo, President of Atlético de Madrid, yesterday. Mr Cerezo has acted as a guide to Jianlin during his visits to Madrid. Yesterday, the President of the Community of Madrid, Ignacio González said that  “The regional government is “fully” committed”.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake