The Valdecarros Compensation Board is to auction six plots of land zoned for tertiary use, grouped into three lots, which may be used for social housing for rent under the alternative use scheme provided for in Madrid’s regulations. The plots total 36,000 sqm of buildable area and have the capacity for around 380 homes. Law 2/2026, which updates Law 3/2024, permits this change of use for certain commercial plots, subject to the established requirements.
The starting price will be 740 euros per square metre of buildable area, bringing the total value to around 26.6 million euros. The plots will be awarded via an electronic auction on 17 and 18 November; to take part, interested parties must register and submit the required guarantees by 12 November.
Two of the plots are adjacent to the future shopping centre to be developed by Alerce in Phase 3, whilst the third is situated on the extension of Avenida de La Gavia, at the start of Phase 2. The plots have access to the M-31 and M-45 motorways and are close to the M-40.
The sale forms part of the financial plan for the initial phases of Valdecarros, in which the Compensation Board retains all non-residential development rights and 28 per cent of the free residential development rights. The organisation expects to raise over 1,000 million euros from the sale of these plots, which it hopes will cover around 70 per cent of the total development costs.
