Azora, a leading Spanish real estate investment firm, has expanded its presence in Madrid with a new land acquisition in Valdecarros. The company has secured an additional 475,000 square meters of residential development land, bringing its total holdings in the area to over 1.5 million square meters. This move positions Azora as a key private investor in Spain’s largest urban development project.
Valdecarros: Madrid’s Largest Urban Development Project
Valdecarros is an ambitious urban regeneration project covering more than 19 million square meters in southeastern Madrid. The initiative aims to mitigate the housing shortage by constructing over 51,000 homes, with at least 55% designated as affordable housing. Additionally, more than 7 million square meters of green spaces are planned, enhancing the area’s livability.
Azora’s Residential Development Plans
Azora’s latest land purchase will facilitate the construction of over 3,500 new homes, addressing Madrid’s growing housing demand. The first housing units are expected to be ready for occupancy by late 2028.
Investment Details: Estimated Valuation of €500 Million
Although Azora has not disclosed the financial details of this acquisition, previous transactions in Valdecarros provide insight into potential valuations. In May 2023, three residential plots totaling 17,483 square meters were sold for €18 million—an average of €1,050 per square meter.
Applying this metric, Azora’s 475,000 square meter acquisition could be valued at around €500 million. However, actual costs may vary depending on the location, development stage, and market conditions.
Long-Term Impact of Azora’s Expansion
Valdecarros is set to develop in eight phases over 18 years, eventually housing more than 150,000 residents—comparable to cities like Santander or Logroño. The project will not only boost Madrid’s housing stock but also enhance urban sustainability with extensive green spaces and modern infrastructure.
Expert Guidance in the Acquisition
Azora’s complex acquisition process involved coordinating 14 private landowners. The transaction was facilitated by Colliers, a global leader in real estate investment advisory services.
Conclusion: Azora’s Commitment to Madrid’s Housing Market
Azora’s expansion in Valdecarros underscores its commitment to developing sustainable, affordable housing solutions in Madrid. With thousands of new homes planned, this project will play a crucial role in shaping Madrid’s future urban landscape.
