September 24, 2020

The promoter DCN reinforces its management team before the beginning of Operation Chamartín | Companies

The promoter DCN reinforces its management team before the beginning of Operation Chamartín | Companies

The one known as Operation Chamartín is waiting for the final approval to start after 25 years of delays in this urban development project in Madrid. Castellana North District, the company that owns a large part of the land and will be the promoter of the new neighborhood, has just reinforced its management team a few months after the development begins.

The promoter, controlled in a 76% for BBVA and 24% for Grupo San José, has just signed two managers with extensive experience in the real estate sector, one for the financial area and another in the legal area, who have joined the company during this month.

As director of the area of ​​finance and investor relations, the company has signed Sergio Criado, who occupied until now the same position in the listed Lar España.

Raised, Executive MBA by the Institute of Stock Market Studies, he has developed a large part of his professional career linked to Grupo Lar, where he held various positions in the financial area from 2008 to 2014. From that date on, he became the financial director of the project. creation of the socimi (listed company for investment in the real estate market) Lar España.

It is one of the great socimis that emerged in Spain since that date and that, in this case, has developed shopping centers and the luxury project called Lagasca 99 in Madrid.

Madrid Nuevo Norte must receive the approval of the municipal plenary in January and then be approved by the regional government

For the area of ​​legal services, the promoter incorporates Pablo Galvache, a lawyer expert in the sector. Master in Management and Management of Real Estate Companies, began his career in Sepes, Public Land Business Entity. He later moved to Lener Asesores and in 2005 to Ramón y Cajal Abogados as a senior associate.

A DCN comes from the direction of the legal counsel of Martinsa-Fadesa, which was incorporated in 2010, two years after the real estate star in the largest bankruptcy of Spain, with a liability of 7,000 million euros. In 2015, the developer entered the liquidation phase.

DCN has Antonio Béjar as president and CEO. This manager has been linked for years to the real estate business of BBVA, among other positions as CEO of BBVA Real Estate until 2014.

Operation Chamartín, renamed as Madrid New North, is waiting to be approved definitively by the municipal plenary, foreseeably in January, with the favorable votes of Ahora Madrid (except the doubts of the councilors linked to IU and Anticapitalists), PP, PSOE and Citizens. After this process, the Community of Madrid must give the final definite approval before the end of the legislature in May.

In this new neighborhood north of the capital and next to the Chamartin station, 10,485 homes will be built, in addition to around 1.5 million square meters of offices and another 103,119 square meters of commercial use.

The promoter DCN will become the largest owner of land in the area when exercising the option to purchase the land of Adif railway administrator, which will pay more than 1,200 million euros when the project is finally approved.


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