Airport World - Joe Bates

Aena’s Board of Directors has approved the award for the first logistics development area at Madrid-Barajas’ airport city to the P3 Group Sarl, which has pledged to invest nearly €170 million on the project.

The tender winning bid involves an initial upfront investment of €52.5 million, rising to €116 million and eventually €170 million over time in a development that will form a key cornerstone of the officially named Adolfo Suárez Madrid-Barajas Airport City.

Following this award, and in accordance with the provisions of the process, a joint venture will be formed in which Aena will hold a 35% stake.

Aena says that the first area awarded, defined within the areas for logistics development and associated airport activities, comprises 28 hectares of land for development, with 152,914sqm of buildable area and 4 hectares for associated green spaces.

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