This development, considered the largest in Europe, is set to house approximately 150,000 residents and marks a milestone in the Spanish capital's urban expansion.
Deputy Mayor and municipal spokesperson, Inma Sanz, announced the decision following the Governing Board meeting, calling it a "decisive step" to launch this project spanning 19.2 square kilometers.
The execution will be divided into eight phases, with three already underway. Municipal estimates suggest the first 13,300 homes could begin construction in early 2027.
A notable feature of the project is its commitment to affordable housing: out of the 51,656 planned units, 28,410 (55%) will have some form of official protection, making this category a cornerstone of the new neighborhood.
Valdecarros is designed to integrate green areas, public facilities, spaces for economic activity, and modern mobility infrastructure. An electric bus line with traffic signal priority and frequent stops is planned, connecting the southeastern developments.
The urban design will prioritize pedestrians and cyclists, featuring 127 kilometers of dedicated pathways and the elimination of slopes to enhance accessibility.
The project includes an ambitious green space initiative, with the planting of 110,000 trees and the creation of 700 hectares of green areas, an expanse equivalent to six times the size of Retiro Park.
Furthermore, 349 hectares will be allocated to social facilities, including a major hospital, residences for the elderly, and schools. Another 69 hectares are designated for industrial use, 20.9 for commercial space, and 12.9 for offices, with plans for three shopping centers and two office towers reaching up to 44 floors.
The total estimated investment for the complete development of Valdecarros exceeds 8 billion euros. It is projected to create up to 480,000 direct and indirect jobs during its construction and sustain over 70,000 permanent jobs once the neighborhood is finished.
