Crea Madrid Nuevo Norte is the private company leading the urban transformation of Madrid Nuevo Norte, a large-scale regeneration project in northern Madrid, Spain. Formed as a public-private partnership involving BBVA, Merlin Properties, and Grupo San José, it manages the redevelopment of over 2.3 million square meters of disused rail land around Chamartín station, originally conceived in 1993 as Operación Chamartín.
After decades of legal and administrative delays, the project gained final approvals in 2019 and 2020. Preliminary works began recently, with urbanization advancing in areas like Malmea-San Roque-Tres Olivos. The scope covers 2.65 million square meters of buildable space, including 10,500 homes—38% under public management for affordability—office districts, 400,000 square meters of green spaces with a 13-hectare central park, and new skyscrapers up to 330 meters, potentially Europe's tallest.
Sustainability features include LEED and BREEAM certifications, reduced water use, and enhanced public transport. The initiative is projected to generate 350,000 jobs over 25 years, contribute 15.2 billion euros to GDP, and yield over 4 billion euros in public revenue, with completion eyed by 2045.