Madrid Government has already received the unanimous favourable report for the final project approval on March 25.

Paloma Martín, Regional Minister for Environment: “Madrid Nuevo Norte will be essential for the economic recovery of Madrid and Spain”.

Madrid Nuevo Norte will obtain its final approval on March 25. The health crisis will not slow down the final approval to this great urban regeneration project in the capital. Madrid Town Planning Committee has taken the last step to give the green light to this vital project, and has done so unanimously, as it is regarded as a strategic objective for the future economic recovery of the region and the country as a whole.

At the Town Planning Committee meeting –via remote conferencing due to current pandemic–, the Regional Minister for Environment and Chairperson of the Committee, Ms. Paloma Martín, highlighted that, thanks to Madrid Nuevo Norte, the Community of Madrid will again be the economic driver of all of Spain. This is a project “where domestic and foreign entrepreneurs and investors will be able to develop their future plans”.

Furthermore, the Regional Minister mentioned that Madrid Nuevo Norte will rekindle hope in Madrid “after the health situation that we are going through due to COVID-19″. According to the regional representative: before this crisis, this project “was already a source of hope and excitement to bring new opportunities to Madrid. Now, in this challenging situation, it is also paramount to the economic recovery and job creation in Madrid and Spain”.

Meanwhile, the Councillor for Town Planning in Madrid, Mr. Mariano Fuentes, has showcased how significant this last step is, after a long waiting time, as well as the collaboration between institutions that made it come to fruition: “In 26 years, no one had ever come this far. Only a new way of understanding politics and the close cooperation between the City Council and the Community made this possible”, he emphasised on his Twitter account.

The urban plan will generate 250,000 jobs, 10,500 homes, a powerful business district, iconic green areas and 250,000 square meters of public facilities. It will also be a major boost to the regional transport network.