Major growth areas have been approved for the Spanish capital.
In its first revision since 1985, Madrid’s new development plan has approved five locations for large-scale development.
They include two big commercial zones where work is already under way. By far the largest is Sanchinarro, where 3.8m m2 will be allowed on a site between the M30 and M40 roads to the north of the city. Work has already started on the site, with the development plan now allowing more than 12,000 new homes, 55,000 m2 of retail, a 5,000 m2 hotel and 17,000 m2 of industrial space.
Also on the north of the city in San Sebastian de los Reyes, a 1m m2 project just underway at Moscatelares has been been incorporated. Here, the private Swedish company Ikea is involved in a development that will include 850 homes and 127,000 m2 of retail where firms like Ikea and Continente will have units. There will also be sites for small and medium-sized retail, offices, industry, and supporting leisure development. This is intended to be completed by the end of 1998.
One issue yet to be finalised is the expansion of retail development. The Madrid authorities have asked developers for more details on four major proposed shopping centres, space for which has been included in the plan. They involve 27,000 m2 of space in Rivas-Vaciamadrid, a 77,000 m2 centre in Arganzuela and a scheme in Fuenlabrada.
The new Plan General has also identified sites for 300,000 new homes in the period up to 2009, and approved plans for commercial development around Madrid airport.
Infrastructure improvements include plans for Spain’s high speed train to link Madrid with Barcelona, with a station at Madrid airport. In addition, the city will extend Madrid’s main thoroughfare, the Paseo de la Castellana.
