As happened in 2001, when Florentino Pérez first became president of Real Madrid, an urban reclassification that has already been approved by the City Council could give the white club a series of extraordinary income starting in 2031.
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If at that time 148,677 square meters of the sports city located where the iconic four towers that form the capital’s ‘skyline’ now rise were sold for 501 million, now it is about the part that has not been built of the Valdebebas sports city, which could give the entity an extra 360 million and the capacity for other derived income.
The new urban plan for the area reclassifies the buildability of 448,000 square meters for profitable use. Real Madrid had used 89,000 to accommodate its sports city and 360,000 remained to be assigned. In July it was approved that those 360,000 would become 532,000, so the land was expanded to build the so-called Madrid Innovation District, which was presented in May with Florentino Pérez and the president of the Community of Madrid, Isabel Díaz Ayuso, in the middle of the ACS owner’s election campaign.
The City Council has argued the change of criteria and reclassification on the grounds that only 17% of the land was being used, so there is an “underutilization of consolidated urban land.”
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The land increases its value by ceasing to be of a sports nature. In this way, 276,000 square meters will be used for private facilities and 172,550 for tertiary services. This translates into the value of the sports land being 40.7 million and the other two values being 133.9 and 185.5 respectively. In total, the 360 million that Real Madrid will be able to earn by selling them, considering that it is listed as the beneficiary.
In these new spaces the idea is to create a private university, a hospital, an office area and another for shops. The project, which still needs to be finalized, establishes that urbanization must begin in 2028, construction in 2029, and by 2031 the first income can already be obtained.
This measure has raised all kinds of criticism among the Madrid political opposition, which again considers it a “tailored reclassification” and another “windfall” in favor of Florentino Pérez after the setback of holding concerts at the Bernabéu due to noise.
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