“There Are Very Few Opportunities In Europe Comparable To Madrid Nuevo Norte”

• José Ignacio Morales, CEO of Crea Madrid Nuevo Norte, highlighted at El Economista‘s real estate forum that the start of construction works and the future marketing of the first plots of land consolidate Madrid Nuevo Norte as one of Europe’s great urban and investment opportunities.

He also took part in the 6th Real Estate Forum organised by El Economista, where he analysed the key moment the Madrid Nuevo Norte project is going through following the start of its first construction works and highlighted the transformative potential of this project for the city, as well as in terms of opportunity for the real estate market on a European scale.

During the event, Morales argued that Madrid Nuevo Norte has definitively left behind its planning phase to become a reality now under way.

“Madrid Nuevo Norte is already a reality; we have moved from the intangible to the tangible”, he said, referring to the start of construction works in Las Tablas Oeste, the first project area to enter the development phase.

The executive explained that this milestone marks the beginning of a new stage for Madrid Nuevo Norte and also for Crea Madrid Nuevo Norte, which is evolving from a company focused on urban planning into a business oriented towards land regeneration and the development of new real estate opportunities.

Las Tablas Oeste, proof that Madrid Nuevo Norte is already under way 

During his speech, Morales highlighted the role of Las Tablas Oeste as the first project area to materialise this project and as the clearest proof that Madrid’s major urban transformation has already begun.

“Las Tablas Oeste is much more than the first project area under development. It is proof that Madrid Nuevo Norte is under way and that it is an unstoppable reality”, he stated.

The urban development works are already under way and will make it possible to develop a new urban environment combining housing, economic activity, green areas and public facilities. In parallel, Crea Madrid Nuevo Norte is moving forward with the urban planning procedures required to market the first plots of land.

In this context, Morales confirmed that the company expects to bring the first residential and commercial plots in this project area to market at the end of 2026. This strategy will generate resources to promote development in the following domains comprising Madrid Nuevo Norte.

Growing investor interest 

The CEO of Crea Madrid Nuevo Norte highlighted the high level of interest the project is attracting from domestic and international investors and operators.

As he explained, market players particularly value three factors: the scale of the project, its strategic location and the fact that it has already entered the execution phase.

“There are very few opportunities in Europe capable of offering the possibility of developing prime real estate assets in a fast-growing city like Madrid and in such a consolidated and well-connected location as this one”, he said.

Morales also noted that Madrid Nuevo Norte fully aligns with new international urban trends, based on mixed uses, high public transport connectivity and a balanced combination of economic activity, housing, services and public space.

The interest identified spans very diverse segments, from residential to commercial uses linked to offices, flex living, student residences, hotel activity and educational facilities.

A strategic opportunity for Madrid 

Morales’ speech also focused on the role Madrid Nuevo Norte will play in the capital’s international positioning.

“Madrid is going through one of the strongest moments in its recent history. It is attracting international investment and talent, and Madrid Nuevo Norte is a unique opportunity to consolidate that position”, he said.

In his view, the project will make it possible to create a new centre of economic activity capable of strengthening the city’s global competitiveness and expanding its capacity to attract companies, skilled employment and investment.

The importance of public-private collaboration 

During the panel discussion, Morales also defended collaboration between public administrations and the private sector as one of the factors which have made a project of this magnitude possible.

“Major urban transformations are only possible when the public and private sectors work together with a shared vision for the city”, he said.

In this regard, he recalled that Madrid Nuevo Norte is the result of consensus and highlighted the importance of maintaining stable collaboration frameworks to tackle long-term urban projects.

Looking ahead 

Looking to the coming years, the CEO of Crea Madrid Nuevo Norte said that the company’s priority is to accelerate the urban planning management of the different domains, execute the urban development works with the utmost rigour and create the city’s best residential and commercial plots.

Asked how he imagines Madrid Nuevo Norte in ten years’ time, Morales pointed to a project already consolidated as one of Madrid’s main hubs of economic activity and as a European benchmark in urban regeneration.

“What is most attractive about Madrid Nuevo Norte is not only its scale, but also the possibility of taking part in building the Madrid of the future”, he concluded.