Most of the layout of the new Madrid Formula 1 Grand Prix will be installed on the grounds of the Madrid Fair Institution (IFEMA), although the current streets of the Valdebebas neighborhood will also be used, in a circuit that will be considered semi-urban. Adjacent to these arteries, there are numerous fallow land, with nothing builtin which their owners, private companies and public administrations, could end up benefiting from the new stop in Spain of the queen of motor racing.
The great beneficiary, without a doubt, but also the great promoter of the project, is IFEMA, a semi-public company controlled by the Community and the City Council of Madrid, the Chamber of Commerce and Industry and the Montemadrid Foundation, heir to the first savings bank that was established in Spain. In addition to the tour that you will take between the different warehouses of the ‘macro palace of congresses’, will tour its annexed lands, also owned by the entity and where it had planned its expansionfinally put on hold due to the pandemic and, now, due to the landing of Formula 1. These soils include the current Space Mad Coolthe place where the music festival is held every year, which is called to be one of the main protagonists during the celebration of the Grand Prix.
The only one that will directly achieve an economic return from holding the Grand Prix is IFEMA. However, the northern and eastern part of the new route will pass alongside, among others, land owned by Real Madrid, Realia, controlled by the Mexican magnate Carlos Slim, or a Filipino hotel company. What is clear is that in the infographics shared by the organization of the motorcycling festival They cannot be definitive why They assume that the circuit passes through privately owned land.
The Real Madrid Sports City, privileged views
Between the route that Formula 1 has shared and the grounds of the Real Madrid Sports City there is, in the east, only one highway, the M-11. Specific, The white club adds 1.2 million square meters next to the layout, an area equivalent to almost 300 football fields. The reality is that only a part of these are developed, combining sports, hotel, industrial, storage and parking uses, all serving the different categories of the club.
However, the surface of land closest to the circuit is unbuilt, with vegetation, but will enjoy privileged views of the asphalt. Right at the closest point between the provisional layout and the Real Madrid grounds, it will be located, pending authorization from the International Automobile Federation (FIA), the entrance to the only tunnel that the circuit will have. At the moment it is unknown whether Real Madrid will be able to profit from the event, with the installation of ‘fanzones’ or stands to enjoy the race.
In addition to the grounds of the current Sports City, Real Madrid would own a small plot of land of 3,036 square meters in the northernmost area of the circuit, where, according to the infographics, the route passes. The owner of this land has never been publicly revealed, it has only been included in the map of the neighborhood made by the X (formerly Twitter) account Hilos Valdebebas, with information from private sources.
The City Council and Carlos Slim
In the same location as this small Real Madrid land there are a series of plots that overnight have become the new neighbors of Formula 1, which will land in the capital in 2026. The largest, with more than 17,700 square meters of surface and 50,500 of buildable areaes property of the Madrid City Council. As EL PERIÓDICO DE ESPAÑA, from the Prensa Ibérica group, announced months ago, the City Council’s intention is to get rid of it for a price that would be around 40 million euros, although it was never auctioned because the budget project was thrown out. the plenary session, something that could change now with the absolute majority of the PP in Cibeles and the arrival of automobile competition.
Following the Town Hall are located two lands owned by Realia, the listed real estate company majority owned by the Mexican magnate Carlos Slim, who is also the largest shareholder of Fomento de Construcciones y Contratas (FCC). Plot 189-B, with 12,529 buildable square meters, was valued by Realia at just over 10 million in 2021, while 189-C, smaller, only has 9,070 buildable square meters. At the moment, it is not known that the company has any projects regarding them.
To the east of Realia is the plot that bought the supermarket chain Ahorra Más from the developer Metrovacesa for 5.4 million euros in 2018, owned by Banco Santander, BBVA and Slim himself. About her the construction of a supermarket was planned and even a construction booth was installed to begin construction, which is currently paralyzed, according to neighborhood sources. Now, with the F1 project, they could cancel the development or resell the property.
The penultimate owner of land in the part surrounding the route of the future Madrid Grand Prix was originally Metrovacesa itself, although the situation of this land is complex. As ‘El Confidencial’ has been publishing, This land was sold for 47.7 million by the developer to Fusaraa foundation linked to the Catholic Church that is currently being investigated by the courts for an alleged real estate plot to plunder its assets.
A mysterious Philippine hotel chain, F1’s new neighbor
Finally, the great neighbor of the future Madrid Grand Prix is Hotel 101, a mysterious Philippine hotel chain that announced the purchase of land very recently, as reported by EL PERIÓDICO DE ESPAÑA. The hotel complex that is planned to be built It will be one of the five largest in the capital, with more than 700 rooms. The promoter’s intention is to sell these stays to Asian investors seeking to obtain the ‘golden visa’ to legally reside in Spain.
Behind this development and hotel company isat least partially, the Philippine Government itselfAs reported WozPópuli. The company, on its social networks, even drew a supposed route that would surround the hotel that is not far from the infographics that have now been shared by Formula 1. If in the end the race does not surround the property, it will pass a few meters away, enjoying of one privileged view that could end up being reflected in the rates.
Privileged views
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In addition to all the aforementioned agents that will be influenced by the presence of Formula 1, there are two more. The first will be all the residents of the Las Cárcavas neighborhood, which cover the northwest area of the circuit. These are standard residential developments, some high-rise and others small single-family homes or villas in the form of a neighborhood.
The new flexible apartment project of the Spanish-Swiss manager will also have a privileged location. Stoneweg and the background Bain Capitalwhat They bought land from the Madrid City Council for 45 million, where one of the circuit’s curves will now be located. Both partners launched the construction of almost 600 coliving apartments that will be rented on a short and medium stay basis, between one month and one year. This project has great opposition in the neighborhood, which criticizes the height of the building.
2024-01-24 06:38:03
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