Hotel101-Madrid now even more prime with Formula 1 in 2026
DOUBLEDRAGON proudly announces that the 6,593 square-meter property recently purchased by Hotel101 Global for the upcoming 680 Rooms Hotel101-Madrid in Valdebebas, Madrid, Spain, is located right beside the F1 Grand Prix Track that was released by Formula 1.
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, Spain.
Given this new development officially announced by F1 regarding Madrid F1 Grand Prix, 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 or P8.8 billion is expected to be generated from the Hotel101-Madrid project.
Following completion of the land purchase last Oct. 31, 2023, Hotel101 Global has taken full possession of the prime land located in Avenida Fuerzas Armadas, Valdebebas, Madrid which is surrounded by major landmark buildings such as the Valdebebas Train Station, the Ifema Convention Complex, the Real Madrid Sports Complex, and the new Madrid Barajas International Airport.
Formula 1 has officially announced on Jan. 23, 2024 that the Spanish Grand Prix will be held in Madrid starting 2026 following an agreement with Madrid Ifema to bring an all-new circuit with street and non-street sections.
It has been over 40 years since the last F1 in Madrid was conducted. The upcoming Grand Prix in Madrid 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.