Colonial started marketing, which is its biggest project to date. This is Madanam, a 90,000 m2 mixed-use complex that connects offices, retail, housing and green areas.
Society has allotted Total investment (land and construction) of 323 million euros For the project, located in the Méndez lvaro area, where the company is also developing a tower that will become the headquarters of the Catalana Occident.
“In 2018 we made a strong commitment to this area in which we believe very much and we have developed a project that is unique in size, the largest within the M30 and also in configuration, as it is more efficient, It is flexible and durable. Vertical towers, we like the horizontal shoebox better”, Pere Vinolas, CEO of Colonial, explained during Madnam’s presentation yesterday.
Find an ally to manage the households
A feature of this complex is that it will have 30,000 sqm for residential. Specifically, they will construct 374 houses, of which 35% will be studios, 50% one-bedroom flats and the remaining 15% two-bedroom flats. “The average rental price for these houses would be 1,200 euros” And we will give them the possibility to rent furnished. In addition, they will have a range of amenities such as swimming pools or gyms,” said Albert Alcober, Colonial’s business director.
Although the society concentrates its business on the offices Chieftain, Vinolas explained that the option they are considering right now is to keep the homes in their portfolio and have an associate manage them, “though a final decision has not been made.”
Out of 90,000 m2 that the project has56,000 m2 will be used for offices, of which some 3,000 m2 will be allocated to the firm of flexible space Utopicus and they estimate the project will generate an annual turnover of 25 million. While the residential part will be delivered in 2023, the offices are expected to be ready in the first quarter of 2024.
On how the moment of uncertainty might affect the project, Vinolas assured that neither the increase in interest rates nor the increase in the cost of works will have any impact on Madnam. “Financially, we arrived with our homework and at the same time it was almost completely tendered in 2021, before the highest inflation in building materials happened,” explained Vinolas.
Designed by Lamela Studio, The new campus puts sustainability-related aspects first, and incorporates innovations in terms of construction Which contribute to the decarbonization plan of the company. It differs with its near-zero energy consumption (NZEB) use of renewable energy and air quality measurement facilities. The project plans to implement a scheme of measures to enhance urban biodiversity, and is designed to achieve the highest level of BREEAM and LEED certification.
Madnam number 61 will be located at Mendez Alvaros, a growing area of Madrid, which is becoming the new benchmark of the market. The company explains that it is “a fully integrated environment within the M30, five minutes from Atocha and with an excellent communication network in both public and private transport.”
Vinolas explained that “with Madnam, Colonial is bringing to market a project that captures current trends and anticipates the needs of companies and employees and new ways of working and living.” ,It is the perfect example of inclusive urban planning and a campus integrated with its surroundings And with the urban fabric of the region, in a district that has great potential and will be a benchmark in the city in the years to come”, he assured.
The concept of this place is based on the human centric vision of the colonial, which designs buildings based on the needs of companies, offering spaces that promote the well-being of their employees. According to Alcober, “it is an avant-garde project with innovative and efficient buildings”.
