Credit: CreaMNNMadrid Nuevo Norte: A Strategic Project to Transform Madrid
GRI Club shares CreaMNN’s exploration of the wide-ranging impacts from one of the largest urban regeneration projects in Europe
March 6, 2025Real Estate
Written by CreaMNN
Madrid Nuevo Norte is the largest urban regeneration project to be undertaken in the Spanish capital and one of the most important in Europe at present. It is the culmination of the city of Madrid at its northern end, urbanising and integrating the undeveloped land belonging to the railway corridor that crosses this part of the city. The aim of this project is to build a new neighbourhood which will become a benchmark for attracting investment, talent, sustainability and urban innovation.
Stretching 5.6km in length, nearly 1km in width, and with an area of over 2.3 million m2 of land and a gross buildable floor area of 2.6 million m2, it will transform this unused land into a new, vibrant neighbourhood with 10,500 new homes, a new world-class Central Business District, large green areas, and public facilities for all citizens - including new schools, health centres and cultural spaces.
The project is being promoted through a public-private partnership model involving the three levels of public administration (national, regional, and local), and is key to the future of the city and the country. Madrid Nuevo Norte is far more than a simple real estate project; it is a strategic project which will redefine the economic model of the Spanish capital for decades to come, with a clear commitment to the knowledge economy linked to talent, decarbonisation, and sustainable mobility.
In fact, mobility and accessibility by public transport is the backbone of the project. Chamartín station, located in the heart of Madrid Nuevo Norte and soon to become the largest railway station in Spain, will connect the development to any city in Spain in under 3 hours, thanks to the high-speed railway. It is also less than 15 minutes away from the Adolfo Suárez Madrid-Barajas international airport, linking Madrid with the world’s main cities and reinforcing its role as a hub for connections with Latin America.
In terms of numbers, Madrid Nuevo Norte will provide the city with a new central business district offering over 1 million m2 of office space, allowing Madrid to compete with major European cities. It will be a new area of economic activity offering not only class A and A+ office buildings, but an urban environment of the highest quality with mixed uses, including a wide range of housing, first floor stores, green areas, landmark facilities, and maximum accessibility by public transport, creating vibrant urban environments with activity at all hours and every day of the week.
When it comes to housing, the project will provide the city of Madrid with 10,500 new homes, offering the highest standards of quality and energy efficiency. In addition, 38% of these homes will be affordable, a percentage rising to 62% in the Central Business District, with the aim of attracting young talent, on the basis that housing and economic activity must not be considered in isolation.
Moreover, 400,000m2 of new green areas will be built, including a large Central Park spanning 13 hectares, as well as a 3km green artery connecting Madrid with the protected natural area surrounding the city at its northern end.
Finally, focusing on the economic impact of this project, a study by the Universidad Autónoma de Madrid estimates that Madrid Nuevo Norte will create 350,000 jobs and will contribute EUR 15.2 billion to the national GDP over its 25 years of development.
What is the current project status?
After completing the planning phase with all approvals, the greatest social and political consensus, and maximum legal certainty, Madrid Nuevo Norte is now in the midst of its urban management phase, with the aim of starting the first urbanisation works early next year.
Crea Madrid Nuevo Norte is the urban transformation company that is promoting the Madrid Nuevo Norte project, the largest urban regeneration project in Spain and one of the most important in Europe, which will put Madrid at the forefront of the major European capitals. It will consolidate the Spanish capital by redeveloping the huge railway infrastructure in the northern part of the city to build a new innovative city model based on the most sustainable standards of 21st century urban planning.
As a private promoter of the project, CreaMNN has first-class shareholders such as BBVA, Merlin Properties, and Grupo San José, all listed on the Madrid Stock Exchange and leaders in their respective sectors.
The company is convinced of this promising opportunity for Madrid and its citizens, and is leading, alongside the state, regional, and local public administrations, a benchmark model of public-private collaboration in Spain, in order to develop Madrid Nuevo Norte and make it an exemplary urban development project.
Madrid Nuevo Norte is the largest urban regeneration project to be undertaken in the Spanish capital and one of the most important in Europe at present. It is the culmination of the city of Madrid at its northern end, urbanising and integrating the undeveloped land belonging to the railway corridor that crosses this part of the city. The aim of this project is to build a new neighbourhood which will become a benchmark for attracting investment, talent, sustainability and urban innovation.
Stretching 5.6km in length, nearly 1km in width, and with an area of over 2.3 million m2 of land and a gross buildable floor area of 2.6 million m2, it will transform this unused land into a new, vibrant neighbourhood with 10,500 new homes, a new world-class Central Business District, large green areas, and public facilities for all citizens - including new schools, health centres and cultural spaces.
(CreaMNN)
The project is being promoted through a public-private partnership model involving the three levels of public administration (national, regional, and local), and is key to the future of the city and the country. Madrid Nuevo Norte is far more than a simple real estate project; it is a strategic project which will redefine the economic model of the Spanish capital for decades to come, with a clear commitment to the knowledge economy linked to talent, decarbonisation, and sustainable mobility.
In fact, mobility and accessibility by public transport is the backbone of the project. Chamartín station, located in the heart of Madrid Nuevo Norte and soon to become the largest railway station in Spain, will connect the development to any city in Spain in under 3 hours, thanks to the high-speed railway. It is also less than 15 minutes away from the Adolfo Suárez Madrid-Barajas international airport, linking Madrid with the world’s main cities and reinforcing its role as a hub for connections with Latin America.
(CreaMNN)
In terms of numbers, Madrid Nuevo Norte will provide the city with a new central business district offering over 1 million m2 of office space, allowing Madrid to compete with major European cities. It will be a new area of economic activity offering not only class A and A+ office buildings, but an urban environment of the highest quality with mixed uses, including a wide range of housing, first floor stores, green areas, landmark facilities, and maximum accessibility by public transport, creating vibrant urban environments with activity at all hours and every day of the week.
When it comes to housing, the project will provide the city of Madrid with 10,500 new homes, offering the highest standards of quality and energy efficiency. In addition, 38% of these homes will be affordable, a percentage rising to 62% in the Central Business District, with the aim of attracting young talent, on the basis that housing and economic activity must not be considered in isolation.
Moreover, 400,000m2 of new green areas will be built, including a large Central Park spanning 13 hectares, as well as a 3km green artery connecting Madrid with the protected natural area surrounding the city at its northern end.
(CreaMNN)
Finally, focusing on the economic impact of this project, a study by the Universidad Autónoma de Madrid estimates that Madrid Nuevo Norte will create 350,000 jobs and will contribute EUR 15.2 billion to the national GDP over its 25 years of development.
What is the current project status?
After completing the planning phase with all approvals, the greatest social and political consensus, and maximum legal certainty, Madrid Nuevo Norte is now in the midst of its urban management phase, with the aim of starting the first urbanisation works early next year.
Crea Madrid Nuevo Norte is the urban transformation company that is promoting the Madrid Nuevo Norte project, the largest urban regeneration project in Spain and one of the most important in Europe, which will put Madrid at the forefront of the major European capitals. It will consolidate the Spanish capital by redeveloping the huge railway infrastructure in the northern part of the city to build a new innovative city model based on the most sustainable standards of 21st century urban planning.
As a private promoter of the project, CreaMNN has first-class shareholders such as BBVA, Merlin Properties, and Grupo San José, all listed on the Madrid Stock Exchange and leaders in their respective sectors.
The company is convinced of this promising opportunity for Madrid and its citizens, and is leading, alongside the state, regional, and local public administrations, a benchmark model of public-private collaboration in Spain, in order to develop Madrid Nuevo Norte and make it an exemplary urban development project.
