Madrid Unveils Financial District Plans

The Spanish capital city of Madrid recently unveiled plans for a new financial center north of downtown. As many as 20 new skyscrapers, including 4 that will have over 60 floors, are in the works for the Chamartin project.

The new development is expected to take 12 years to complete and employ as many as 25,000 people each year of construction. The city is investing 11 billion euros in the project, which will cover over 300 hectares, or 750 acres, as it extends the Paseo de la Castellan north.

Madrid mayor Alberto Ruiz-Gallardon is very excited about the development. “It is a project on the scale of La Defense and Austerlitz in Paris, the urban transformation of Berlin, or the development of Broadgate and Canary Wharf in London,” he noted.

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