For the third consecutive year, the Regional Government and the Madrid City Council took part in the MIPIM real estate fair, held in Cannes, France, to showcase the region's main initiatives and projects.
The Community of Madrid's Deputy Regional Minister for Housing, Jose María García, said: "The region has climbed up the rankings to become Spain's leading economic engine this year thanks to policies that attract talent, education and investment. Part of this investment attraction has been directed towards the real estate sector, which has relied on legal certainty and the streamlining of urban planning regulations to grow".
According to ASPRIMA data presented in Cannes, Madrid has become the second most populated city in the European Union, with an annual population increase of 70,000 people. This has generated a demand for 40,000 new homes per year and an accumulation of housing needs that currently exceeds 175,000 units. This situation has highlighted the need to promote new urban developments, such as Valdecarros. Luis Roca de Togores, president of the initiative, said: "Valdecarros is going to become the epicentre of new affordable housing in the city during this decade and the next, as one out of every three new homes that will be built in the capital during this period will be located in this new neighbourhood in Madrid".
"Valdecarros is going to become the epicentre of new affordable housing in the city during this decade and the next".
The growth trend in the Madrid region has attracted the interest of major national and international developers and investors. In the last 20 years, the region's population has grown by 1.2 million people, representing an increase of 20.19%. Projections from the National Institute of Statistics indicate that this growth will continue, with a further 12.9% increase expected, reaching 7.8 million inhabitants by 2037.
According to Ramón Cubián, director general of land in the Madrid Region: "The administration is obliged to attend to this increase in population with policies that provide confidence in attracting investment to the region. Disruptive land policies that simplify and speed up procedures".
Valdecarros has been presented at the MIPIM fair as a response to the growing demand for housing, standing out as the largest residential urban development in Spain. More than 50,000 homes are planned to be built on an area of 19 million square metres, constituting a significant supply of new affordable flats in Madrid for the coming years. In addition, it is noted that at least half of these homes will be subject to some form of subsidised housing scheme.
Luís Roca de Togores, President of Valdecarros, said: "I am convinced that Valdecarros will be a clear success story of public-private collaboration to find affordable housing solutions for the people of Madrid, especially the youngest. Affordable housing and quality will go hand in hand in this new neighbourhood. The planning has preserved a high level of block sponginess, which will allow architects to implement innovative, environmentally and energetically sustainable and highly differentiated projects".
40% of the Valdecarros area will be dedicated to green spaces, ensuring that any home in the district is within two hundred metres of a green space. The district's location facilitates access to major motorways, which is expected to improve transversal mobility and relieve congestion at the main entrances to the city. Sustainable mobility will also be promoted through 127 kilometres of cycle lanes.
The new Valdecarros district, as confirmed at MIPIM, will be served by a high-capacity Bus Rapid Transit system, aimed at optimising public transport and general mobility. It will be an area conducive to travel on foot, as it is located in an area with a mostly flat topography, where almost 90% of the streets have a gradient of less than 3%. To achieve these characteristics, 30 million cubic metres of earth will be moved, which will involve an additional cost of 250 million euros.