AZCA will undertake the comprehensive redevelopment of 132,895 sqm with an investment of €89.3 million, organised through a public-private partnership scheme. The basic project was presented by Madrid City Council at an event led by the mayor, José Luis Martínez-Almeida.
Of the total area involved, 82,755 sqm is public space and 50,140 sqm is private land for public use. Funding will be shared between the municipal administration, which will contribute €55.6 million, and the private owners in the area, who will contribute €33.7 million based on their ownership of the land included in the project.
The City Council will also act as the project developer, with work scheduled to begin in the first half of 2027, once the detailed design, technical supervision and tendering process have been completed.
The project affects one of the capital’s main commercial districts. According to municipal data, around 50,000 people work in AZCA every day, some 2,000 residents live there, and around 100,000 people pass through the area daily.
From an urban planning perspective, the project proposes a profound transformation of the space, featuring a central park, the planting of over 1,000 trees of more than 40 species, the incorporation of water as a landscape feature, a central ring road, five pedestrian footbridges, 19 leisure areas, children’s play areas and nearly 150 linear metres of tiered seating.
The plan also includes improvements to accessibility and infrastructure. Two new lifts will be installed, the perimeter pavements will be renovated, and work will be carried out on underground structures, including waterproofing, drainage and the repair of deep sewers. Work will also be carried out on AZCA’s 33 interior passageways, where lighting, signage and finishes will be renewed, and openings will be created in the floor slabs to allow natural light and ventilation into the lower levels.
In terms of security, the City Council plans to replace all street lighting with LED technology and expand the CCTV system, which will increase from 55 cameras to a network of 91 devices spread across three levels.
The basic design has been drawn up by the architectural firms Diller Scofidio+Renfro and b720 Fermín Vázquez Arquitectos. According to the City Council, the proposal adapts the winning solution from the international competition launched in 2020 by Renazca to the new institutional and business agreement.
Private funding will be provided by Pontegadea, El Corte Inglés, Merlin Properties, GMP, Hermes, Mapfre, Mutua Madrileña, Leading Hospitality, Alba Patrimonio Inmobiliario, Monthisa, Cajamar and Renazca. The Spanish Patent and Trademark Office, which reports to the Ministry of Industry and Tourism, is also involved in the initiative. Local residents and business owners in the area, mainly represented by COMUNAZCA and PROAZCA, have participated in the process, although they will not be making any financial contribution.
