Meco’s Town Hall Approves Occupancy of 1.9 million m2 of Industrial Land

27 February 2018 – Eje Prime

Madrid has a new batch of industrial land. The Town Hall of Meco has approved the occupancy of the largest surface area of industrial land in the whole of the Community of Madrid, placing at the disposal of companies a space spanning 1.9 million m2 in total.

The design of the new industrial estate, which is equivalent in size to 266 Santiago Bernabéu football pitches, has been approved, and now is the time to develop the land and promote it. The development of the land has been “claimed by and agreed with the public company Obras de Madrid”, which is the sole owner of one of the sectors of new industrial space and, therefore, “may start its development and promotion from tomorrow”.

Large companies such as Carrefour, Inditex and ICP Logistic are just some of the firms that have expressed their interest in setting up activity on the land that has just been approved, according to the Town Hall.

Original story: Eje Prime

Translation: Carmel Drake

Cifuentes Finalises Sale Of Land In Meco (Madrid) To Inditex

4 April 2016 – El Confidencial

Arpegio, the Community of Madrid’s public land management company, may receive a cash inflow this year if it manages to finalise the sale of a plot of land measuring 100,000 m2 that it owns in the town of Meco, just next to Inditex’s large logistics centre in the region. The land would be an ideal site for the Galician company to expand its facilities and Arpegio wants to generate profits from the plot, and whereby benefit from the investor boom surrounding such assets. Sources at the regional Government say that Inditex has expressed an interest in taking over the land, but Arpegio needs to resolve certain environmental problems that arose in this area precisely when Inditex first opened its centre there (in April 2007) and the R-2 highway was constructed, and a wetland area was created, which is now home to thousands of birds of 165 different species, many of which are protected.

Whilst the regional Government led by Cristina Cifuentes has been working to auction off this plot, the Town Hall of Meco is planning to amend the partial plan for the SUS-AE1 sector in May, required to protect the wetland and change the classification of this land, which is currently industrial. Inditex has declined to confirm or deny whether it is interested in the land, which according to market sources, could be sold for between €100 million and €120 million. Meanwhile, the fund Gazelly has already taken steps to try to buy another 300,000 m2 plot next to the land owned by Inditex, which also sits alongside the wetlands, although real estate sources say that this vehicle is acting on behalf of a third party. (…).

Original story: El Confidencial (by Ruth Ugalde)

Translation: Carmel Drake