DOUBLEDRAGON announced on Wednesday, Jan. 24, that the 6,593 square-meter property recently purchased by Hotel101 Global for the upcoming 680-room Hotel101-Madrid in Valdebebas, Madrid, Spain is strategically located right beside the Formula 1 Grand Prix Track.
Hotel101-Madrid is currently the only upcoming hotel right beside the F1 Madrid Track and is expected to be one of the Top 5 largest hotels in Madrid.
Given this new development that F1 Grand Prix will return to Madrid in 2026, DoubleDragon expects the land value of the prime and centrally-located commercial land it has purchased to have substantially appreciated and could translate to a faster sales offtake. Robust condotel sales revenue of about €143.3 million euros (₱8.8 billion) is expected to be generated from the Hotel101-Madrid project.
Following completion of the land purchase on Oct. 31, 2023, Hotel101 Global has taken full possession of the prime land in Valdebebas, located in Avenida Fuerzas Armadas, Valdebebas, Madrid which is surrounded by major landmark buildings. It is about three-minute walk to the Valdebebas Train Station, four-minute walk to IFEMA convention complex, five-minute walk to Real Madrid Sports Complex, and around seven-minute to the new Madrid Barajas International Airport.
Formula 1 has officially announced on Jan. 23 that the Spanish Grand Prix will be held in Madrid starting 2026 following an agreement with MADRID IFEMA to bring an all-new circuit to Madrid with street and non-street sections. It has been over 40 years since the last F1 in Madrid was conducted, thus making this news a great welcome development for Madrid. The upcoming Grand Prix is projected to have the capacity to host more than 100,000 per day, making Madrid one of the largest venues on the F1 calendar.
Hotel101-Madrid is scheduled and expected to begin construction in March 2024, and poised to be completed by Q4 2025, just in time for the 2026 F1 Grand Prix./PN
