New and fair winds for Canalejas

Seven historic buildings are being remodeled in the very centre of Madrid. This project is known as the Canalejas Complex. It is located in Plaza de Canalejas ( formerly called Plaza de las Cuatro Calles), and it is very near the Puerta del Sol. It is estimated that this ambitious project will be finished in 3 years´ time. The aim of this effort to revitalize the area, is to attract high quality tourism with great purchasing power. In addition, the old buildings of the neighbourhood will increase their value.

PROMOTING HIGH QUALITY TOURISM

The Canalejas Complex hopes to encourage affluent tourists to visit the area. This can be achieved with the remodeling of its historic buildings. The seven large buildings of the block, which were out of use, will be restored, conserving the façade and rebuilding the interior.

The Complex will consist of a luxurious hotel with 215 rooms, a great shopping centre, 30 modern and magnificent apartments, a four-storey parking and an underground
transport interchange. This project aims to pedestrianize the area of Alcalá-Canalejas-San Jerónimo. It also wishes to attract USA tourists. We must bear in mind that this Complex is very close to the main museums in Madrid. Therefore, it is an appealing area for tourists.

A VERY VALUABLE COMPLEX

The Canalejas Complex will become very valuable as an economic and growth driver. All the façades of the historic buildings will be remodeled. We can highlight Nº 1 of Plaza de Canalejas which was declared a building of cultural interest. Furthermore, Nº 6 of Calle Alcalá is protected by the urban development planning of the area. Concerning the interior of the buildings, everything which is regarded as being of historic interest, will be protected
in order to preserve its historic heritage.

FINANCIAL DATA

Seven different banks have backed the 268 million euros needed to be able to finance this project. It is considered the most important real estate operation recently carried out in Spain. The project will, hopefully, be finished at the end of 2017.