One of the great housing developments in Madrid, the future neighborhood of The Berrocales, you will see the first cranes at the end of the year. This is what some of the developers involved in this urban operation foresee, who plan to start marketing and building the first homes in the coming months. In this way, the starting gun will be given to the largest bag of residential land that has emerged in the capital in recent years.
In The Berrocales are scheduled to be built 22,285 homes in the coming years. This neighborhood is one of the five that make up the so-called Southeast Strategy, an urban development operation born in the 1990s and where, at the moment, only houses are built in the area called the canaveral. Next to Valdecarros, Ahijones and Los Cerros, These five areas add up to more than 100,000 houses to build.
In recent years, the compensation board (group of land owners in charge of development management) has made progress in the necessary infrastructure with a capital of 230 million euros already invested, in works such as roads, bridges or water collectors. . In the next three years (until 2025) the landowners plan to invest around 180 million in urbanization and infrastructureas explained by the compensation board.
In recent months, the reparcelling has been carried out, the urban process by which the owners know which land corresponds to them, which opens the way to being able to register them in the coming months and start the building works.
In this future neighborhood, the main developers present as land owners are real estate Pryconsa (of the Colomer family), the listed Aedas (from the Castlelake fund), Kronos Homes (of the investment group Kronos), the manager of cooperatives Ibosa, Habitat (Bain Capital) y fast track (Value Partners). También buy it and the footballer Sergio Ramos They share a land-owning company here.
A large part of these promoters plan to begin marketing and construction between the end of the year and the beginning of 2024. It will thus become the first of those developments that have to start building a new affordable housing offer in Madrid. The Los Berrocales neighborhood is located to the east of the city, between the A-3 motorway to the south, the M-45 to the west, Los Ahijones to the north and Rivas Vaciamadrid to the east.
This neighborhood has been affected by the blockade caused by Vox’s refusal to approve the modification of the urban regulations sponsored by the Madrid City Council government team (PP and Ciudadanos). These modifications (whose progress had previously been ratified by the three groups on the right and which will now be difficult to approve in this legislature) leave some changes in limbo, such as the fact that the terraces do not count as buildable area, for which reason it has delayed the project designs and, therefore, the deadlines for commercialization and construction.
An expected investment of 5,000 million
The new neighborhood of Los Berrocales will entail around 5,442 million euros of investment, mainly private, for the urbanization and construction of houses, according to the PwC consultancy calculated last year.
Urbanization costs will rise to 627 million, although the part that will require the most investment will be the construction of real estate assets, specifically 4,815 million. The figure of 2,802 million corresponds to the investment for residential construction; 331.9 million for the industry (for example logistics warehouses); 763.6 million for tertiary (commercial or offices), and 917 million for endowment (where the public administrations have the relevant role).