The Oria Innovation Campus project, which will be located next to the former Clesa factory in Madrid and will have a total of 89,000 square metres and four buildings, has added a new plan to the agreement.
Metrovacesa, the developer, and Grupo Vita, a firm dedicated to urban regeneration, have extended their agreement on the Oria Innovation Campus to cover the development of approximately half of the entire complex.
The objective of the agreement is the development of a second building dedicated to accommodation with a total area of 22,000 square metres covering approximately half of the entire Oria Innovation Campus complex. The building will have 519 rooms with all services, a games room, co-working area, swimming pool, etc. Upon delivery of the project, which is scheduled for 2026, and the operator and owner of the complex will be Grupo Vita.
Construction is expected to start in the first half of 2024. At the start of construction, another joint venture between Vita Group and Metrovacesa will be created, following the line established with the construction of the Vita Student Oria residence.