Plans submitted for $2.2bn Spanish leisure project
Dec 06, 2016 – The Cordish Companies’ Global Cities Madrid Live! affiliate has submitted plans to the Madrid Regional Autonomous Government for the development of an integrated resort and entertainment district in Madrid, Spain.
The Live! District will be located on an area of about 300+ acres in Madrid’s Torres de la Alameda sector, and is estimated to cost $2.2bn.
It will feature up to 2,700 new hotel rooms, over 92,900sq m of retail and shopping space, about 15,800sq m of dining space, about 25,550sq m of convention and meeting space, and nearly 41,800sq m of office space.
The development will also comprise about 11,600sq m of gaming entertainment, about 18,600sq m of entertainment and live performance venues, and a central plaza with a large Mercado, specialised bars, lounges, dance clubs and cafes.
The Cordish Companies’ Global Cities affiliate managing partner Joe Weinberg said: “The Live! Integrated Resort & Entertainment District in Madrid is one of the most exciting and unique integrated resort & entertainment developments in Europe that will not only enhance the regional resort and entertainment markets, but also serve as a major domestic and international tourism destination.”
The project is expected to create more than 56,000 total permanent jobs and construction related jobs.