First Euro-Vegas, now Euro-China for Madrid?

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This topic contains 6 replies, has 2 voices, and was last updated by Profile photo of Chopera Chopera 3 years, 9 months ago.

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  • #57297
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    Is this for real? I know the Chinese are active in Spain, and they have a reputation for enjoying gambling, but….a banking complex of 18 billion ????

    http://www.elmundo.es/elmundo/2013/02/24/madrid/1361723935.html

  • #115739
    Profile photo of Chopera
    Chopera
    Participant

    No idea whether it’s for real or not (this stuff seems to crop up every few months) but it’s interesting that Madrid seems to have this advantage over other major European capitals – it is surrounded by vast swathes of cheap land, and a council that is empowered to do what it likes with that cheap land.

    Having said that, some of the Madrid council’s plans to develop areas like Valdebebas have been hit by legality issues:

    http://www.idealista.com/news/archivo/2012/10/24/0530555-varapalo-judicial-el-supremo-declara-ilegales-22-pau-de-madrid-y-deja-en-el-aire-el-futuro-de-135

    but being Spain, I expect they will find a way around these types of obstacle. Paracuellos del Jarama and Torrejón de Ardoz are just the other side of the airport to Valdebebas and if Euro-China went ahead it would pretty much drag Alcala de Henares into the Madrid conurbation, creating a “Greater Madrid” mega city. Why not?

    On a similar theme I saw a news report about how the area near Sol along calle Alcala (around metro Sevilla) was planned to be developed into a financial centre. As you know Madrid you are probably aware that that area has some fine old buildings that used to belong to banks such as Banesto and BBVA so it would make sense to attract the banks back to that area. However as ever in Spain, don’t hold your breath!

    (By the way, thanks for posting all these links – they are very much appreciated)

  • #115741
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    Yes, all that area around metro Sevilla, banco de E, and recoletas – interesting that they’re thinking of attracting the banks back. I was told a while back by well informed sources that the Madrid council was trying to get hotels and the like to move in and convert the old buildings – the idea was to entice the financial bodies further and further north up the Castellana, which in part they did.

  • #115742
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    Yes, the availability of cheap land is a big draw. Plus communications (not just the fast rail, the cercancias, metro and road network have all had big investments over the years, and Barajas could easily cope with 10 million more passengers). No doubt this Chinese group would love to be based in London, but it’s creaking at the seams and prices for any kind of development would be prohibitive. Of course it remains to be seen whether the Madrid idea goes ahead.

  • #115749
    Profile photo of Chopera
    Chopera
    Participant

    Yes I forgot to mention that they wanted the hotels there as well. A few years back there was a Manet exhibition at the Prado and it talked about his visit to Madrid and how he was influenced by the likes of Velasquez and Goya during his stay. It also mentioned that he stayed at the Hotel Paris next to Sol, which at the time of the exhibition had deteriorated into a rather tatty hostel like any other in that area. I’m not sure if it survived the Sol remodelling (I think the building is scheduled to be a huge Apple Store now) but even so, I guess that in their day there must have been some very fine hotels around that area (including the Hotel Paris).

    Regarding the Castellana there is Operación Chamartín still going ahead as far as I know, which is due to be yet another financial centre. But it does beg the questions – how many billion euro financial centres does MAdrid need? And where does the money come from?

  • #115901
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    On a similar theme I saw a news report about how the area near Sol along calle Alcala (around metro Sevilla) was planned to be developed into a financial centre. As you know Madrid you are probably aware that that area has some fine old buildings that used to belong to banks such as Banesto and BBVA so it would make sense to attract the banks back to that area. However as ever in Spain, don’t hold your breath!

    Well seems like they’re not going for the banks after all.
    A new development in c/Alcala will involve a new 5 star hotel and a shopping complex. Due to open up in Oct 2016 and create 4,800 jobs (1800 in the construction phase) . No doubt they’ve seen how successful the likes of Westfield in London (and indeed shopping centres in Spain) have been.
    The video that ABC includes in their report is very interesting if you know that area (just down the oad from Sol so most visitors to Spain will have walked along there).
    http://www.abc.es/local-madrid/20130305/abci-sera-macrocomplejo-plaza-canalejas-201303041759.html
    English article on the new Four seasons hotel
    http://www.internationaltravelnews.com/index.php/sid/212981491/scat/26e7946dced8f2bc

  • #115903
    Profile photo of Chopera
    Chopera
    Participant

    @dbmarcos99 wrote:

    On a similar theme I saw a news report about how the area near Sol along calle Alcala (around metro Sevilla) was planned to be developed into a financial centre. As you know Madrid you are probably aware that that area has some fine old buildings that used to belong to banks such as Banesto and BBVA so it would make sense to attract the banks back to that area. However as ever in Spain, don’t hold your breath!

    Well seems like they’re not going for the banks after all.
    A new development in c/Alcala will involve a new 5 star hotel and a shopping complex. Due to open up in Oct 2016 and create 4,800 jobs (1800 in the construction phase) . No doubt they’ve seen how successful the likes of Westfield in London (and indeed shopping centres in Spain) have been.
    The video that ABC includes in their report is very interesting if you know that area (just down the oad from Sol so most visitors to Spain will have walked along there).
    http://www.abc.es/local-madrid/20130305/abci-sera-macrocomplejo-plaza-canalejas-201303041759.html
    English article on the new Four seasons hotel
    http://www.internationaltravelnews.com/index.php/sid/212981491/scat/26e7946dced8f2bc

    That makes more sense. I heard it in the background on the TV so I might have misheard what they were saying

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