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Madrid Nuevo Norte Moves Forward: BBVA, MERLIN Properties, and Grupo SANJOSE Finalise €1,245 Million Land Acquisition from ADIF BBVA, MERLIN Properties, and Grupo SANJOSE are on the verge of completing a landmark deal to acquire ADIF and Renfe-owned land near Chamartín Station in Madrid. This transaction will officially launch Madrid Nuevo Norte (MNN), the largest urban development project in Spain and one of the most ambitious in Europe. The deal, valued at €1,245 million, is expected to be signed before November 30. The project spans a massive 3.35 million square metres, with 2.3 million allocated to railway infrastructure. ADIF, holding 49.4% of the land, remains the principal landowner involved in this transformation. Madrid Nuevo Norte aims to redefine urban planning with its scale, connectivity, and design, showcasing Spain’s commitment to sustainable and forward-thinking city projects.

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