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Project

Social and economic impact

As the starting point for the renovation of the northern section of the capital, Madrid Nuevo Norte is a strategically important project around which vital regional infrastructure revolves, such as the reorganisation of several of Madrid's busiest traffic junctions or the covering of 20 hectares of railway tracks; and other significant, nationwide infrastructures, such as the construction of the new Chamartín station.

The L.R. Klein University Institute for Economic Forecasting, attached to the Universidad Autónoma de Madrid analysed the repercussions that Madrid Nuevo Norte and the project’s urban development actions will have on the national economy.

Much more than an urban development project

Madrid Nuevo Norte is going to create a new city model focused on the well-being of Madrid’s citizens. The project will also have a significant impact on the regional and national economy, which in turn translates into more opportunities and a better quality of life for all citizens. This sustained impact over time will not be limited to the city of Madrid; the project will have an impact on the region and the country as a whole, promoting economic recovery.

01.

Sustained employment over time and throughout Spain

350,000

Jobs connected to the project

In total, it has been calculated that the project will create 348,064 jobs between the construction phase and the future activity that it will generate in the offices and businesses in the new neighbourhoods.

*The figure for the activity phase was calculated based on a theoretical hypothesis of 100% occupancy of the project’s commercial properties.

During the construction phase

The 149,622 jobs that will be created in Madrid represent 4.8% of the population currently employed in the region.

Empleos que se generarán en Madrid

149,622

Geographical distribution of jobs

One fourth of the jobs created will be in other regions

Each direct job created by Madrid Nuevo Norte will create 0.95 more jobs in the national economy.

Jobs created as a result of private investment

Employment for all professional profiles and educational levels.

Impact on employment by professional category

Impact on jobs by educational level

Evolution of jobs by year
Job creation from the start of the project and continuing over several decades.

During the activity phase

  • Business activity that drives the knowledge economy.
  • Southern Europe’s most innovative business district.
  • Qualified jobs looking towards the future.

Change in model: quality jobs looking towards the future. The jobs in the operating phase were calculated considering 100% occupation of the offices that will be built in Madrid Nuevo Norte.

Additional jobs

146,488
When Madrid Nuevo Norte is finished, it will have the capacity for up to 146,488 more jobs.
01.

Sustained employment over time and throughout Spain

In total, it has been calculated that the project will create 348,064 jobs between the construction phase and the future activity that it will generate in the offices and businesses in the new neighbourhoods.

350,000

Jobs connected to the project

*The figure for the activity phase was calculated based on a theoretical hypothesis of 100% occupancy of the project’s commercial properties.

During the construction phase

The 149,622 jobs that will be created in Madrid represent 4.8% of the population currently employed in the region.

Empleos que se generarán en Madrid

149,622

Geographical distribution of jobs

One fourth of the jobs created will be in other regions

Each direct job created by Madrid Nuevo Norte will create 0.95 more jobs in the national economy.

Jobs created as a result of private investment

Employment for all professional profiles and educational levels.

Impact on employment by professional category

Impact on jobs by educational level

Evolution of jobs by year
Job creation from the start of the project and continuing over several decades.

During the activity phase

Change in model: quality jobs looking towards the future. The jobs in the operating phase were calculated considering 100% occupation of the offices that will be built in Madrid Nuevo Norte.

When Madrid Nuevo Norte is finished, it will have the capacity for up to 146,488 more jobs.

Additional jobs

146,488
  • Business activity that drives the knowledge economy.
  • Southern Europe’s most innovative business district.
  • Qualified jobs looking towards the future.
02.

Strategic investment for a key project

The total investment for the development of Madrid Nuevo Norte is 11.1 B€. The purchase of properties will add private investment to that figure, for a total cost associated with the Madrid Nuevo Norte project of 25.2 B€

25.2

Capital flows in B€

Investment source in B€

Total investment

02.

Strategic investment for a key project

The total investment for the development of Madrid Nuevo Norte is 11.1 B€. The purchase of properties will add private investment to that figure, for a total cost associated with the Madrid Nuevo Norte project of 25.2 B€

Capital flows in B€

25.2

Investment source in B€

03.

An economic impact on the country that will promote recovery.

The economic impact of Madrid Nuevo Norte will extend beyond the Region of Madrid and will add to the national GDP.

15.2

Impact on GDP in B€

Part of the wealth generated by Madrid Nuevo Norte will be distributed among other Regions.

  • The total contribution to national GDP will be 15.2 B€, which is equal to 1.3% of the current GDP.
  • In the Region of Madrid, the project will add roughly 12 B€ to the Region’s GDP. Close to 4.8% of the Region’s current GDP.
Contribution to GDP per year.
A positive impact on the economy in the short, medium, and long term.
03.

An economic impact on the country that will promote recovery.

The economic impact of Madrid Nuevo Norte will extend beyond the Region of Madrid and will add to the national GDP.

Impact on GDP in B€

15.2

Part of the wealth generated by Madrid Nuevo Norte will be distributed among other Regions.

  • The total contribution to national GDP will be 15.2 B€, which is equal to 1.3% of the current GDP.
  • In the Region of Madrid, the project will add roughly 12 B€ to the Region’s GDP. Close to 4.8% of the Region’s current GDP.
Contribution to GDP per year.
A positive impact on the economy in the short, medium, and long term.
04.

Positive balance for the Public Administrations.

5.9 B€

Income for Public Administrations

A total of 5.9 B€ in taxes will be collected by all of the Public Administrations.

90% of this income will come from the private investment.

A positive balance of 4 billion euros for the public treasury.

Taxes collected by year
A positive impact on the economy in the short, medium, and long term.
04.

Positive balance for the Public Administrations.

A total of 5.9 B€ in taxes will be collected by all of the Public Administrations.

Income for Public Administrations

5.9 B€

90% of this income will come from the private investment.

A positive balance of 4 billion euros for the public treasury.

Taxes collected by year
A positive impact on the economy in the short, medium, and long term.

News

29 March 2023

Madrid Nuevo Norte will reuse 800,000 tonnes of materials within the project itself thanks to its circular strategy

  • City Model
  • Project
  • Sustainability
24 March 2023

This is what Madrid Nuevo Norte CBD will be like

  • City Model
  • Project
14 February 2023

The court guarantees Madrid Nuevo Norte planning approval

  • Corporate
  • Project
27 September 2022

Madrid Nuevo Norte will help reduce the city’s heat island effect

  • Corporate
  • Sustainability
Go to News

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