The Valdebebas landowners are carrying out a 21st-century
city-planning project
In April 2001, the Valdebebas landowners came together with the aim of carrying
out a multi-pronged private city-planning initiative for business and residential
development. To achieve this goal, the group signed a City Planning Agreement
with the Community of Madrid and the City Council of Madrid in July 2002,
which established the planning and real estate parameters for the development.
Since the beginning, the group has envisioned executing an initiative
that reflects 21st-century urban values, where economic activity and residential
life are rationally integrated, ensuring that future inhabitants enjoy
the highest standards of modern life. Additionally, Valdebebas has strived
to serve as a model of balance, creating a self-contained space in which
economic and administrative advantages meld together in a privileged environmental
setting within the municipal limits of the city of Madrid.
After signing these agreements, the Valdebebas Owners' Management Board
(Junta de Compensation) was established in June 2005. The main purpose
of the Board is to execute the urban planning, assuming direct responsibility
for the civil works and the equal distribution of the expenses and profits
that are the result of the initiative.