The project from P3 Group Sarl has obtained the best score among all those submitted in the technical phase, with a score of 92 out of 100. The proposal includes an investment of 116.1 million euros and an upfront of 52.5 million euros. A joint venture will be formed in which Aena will have a 35% stake. Thus, Aena is getting the large project at the Adolfo Suárez Madrid-Barajas Airport City off the ground
Aena’s Board of Directors has approved the award for the first logistics development area in Adolfo Suárez Madrid-Barajas Airport City to the company P3 Group Sarl, whose tender reaches a commitment of around 168.7 million euros. This tender includes an investment offer (committed capital) of 116,155,306 euros and an upfront of 52,597,235 euros.
The project presented by P3 Group Sarl obtained the best score among all the tenders submitted in the technical phase, with a score of 92 out of 100, considerably exceeding the thresholds required by Aena, thanks to its innovative design and its commitment to sustainability, the environment and the land.
Following this award, and in accordance with the provisions of the process, a joint venture will be formed in which Aena will hold a 35% stake. This company will hold the building lease that Aena will establish on the plots in Area 1 for a period of 75 years, and it will execute one of the most cutting-edge and innovative logistics parks built to date. Aena’s contribution to this company will be in kind, with the building lease while the investor’s contribution will be in cash to finance all the costs during the development period provided for in their tender and an upfront to balance the distribution of the company.
For this go-to-market process, Aena has had the support of Deloitte and Garrigues as main advisors.
A cutting-edge and sustainable Airport City
The first area awarded, defined within the areas for logistics development and associated airport activities, comprises 28 hectares of land for development, with 152,914 m2 of buildable area and 4 hectares for associated green spaces. The area, which was deemed the “most prime”
one in the successful bidder’s tender submission, has a privileged location next to the first line of air cargo at the Airport and in the heart of the Corredor del Henares, one of the largest logistical poles in Europe, with excellent air and ground connections.
For its construction, P3 Group Sarl’s tender defines a state-of-the-art Logistics Park made up of eight main plots, with different types of logistics aprons and buildings, which provide high flexibility and versatility to adapt to the needs of different operators, with big-box, cross-dock, multi-tenant and single-tenant warehouses. These logistics warehouses will also have support offices as well as facilities for ancillary activities such as shops, food and beverage, green and sports areas, as well as other auxiliary services, bicycle lanes and landscaped areas.
The project is unequivocally committed to innovation, sustainability, building excellence and connectivity. The proof is that its tender largely complies with the mandatory measures of the White Paper set out by Aena, placing a special focus on the careful treatment of water for its reuse and photovoltaic power on the roofs, which reduces the environmental impact and the carbon footprint of both the activity and the construction process. In this regard, the development proposed is aligned with Europe’s 2030 Climate Target Plan and the guidelines set out in Aena’s Climate Action Plan, which aims to fight climate change and outlines the commitment to achieve carbon neutrality by 2026 and the NETZero target by 2020.
In addition, in order to foster design, sustainability and innovation criteria based on excellence, the P3 tender seeks to improve the quality of urban planning and buildings by obtaining the BREEAM sustainability certification in urban planning and new construction with an excellent rating. Thus, the tender meets the needs of today’s demanding logistics sector, offering versatile buildings with a variety of sizes, proportionality in their office blocks, optimised storage capacity and a strategically chosen proportion of loading bays. In addition, there is also a commitment to increase and care for the comfort of the user and the companies that will be established in the enclave, ensuring the well-being of people without losing sight of the needs of the visitors who come to the park.
P3 Group Sarl is a leading European logistics real estate investment, development and management company wholly owned by GIC (Government of Singapore Investment Corporation), one of the world’s largest and most active sovereign wealth funds with over $100 billion in assets in its portfolio. With a presence in 12 EU countries, it has a network of logistics properties totalling 7.1 million m2 of gross leasable area and 1.6 million m2 of land for development. The investor has nearly 300 assets under its management, 470 customers across Europe and several awards, including the “European Real Estate Brand Award” and “Best Logistics Developer Southern Europe”. In Spain, the company has 18 parks spread throughout Madrid, Barcelona, Bilbao, Zaragoza and Valencia and around 200,000 m2 of land for development.
Adolfo Suárez Madrid-Barajas Airport City
The overall Airport City project, with an associated building area of 2.1 million m2, brings together different development activities:
- Logistics node: with different types of assets, such as storage and logistics warehouses, cross-docking, BPO (Business Process Outsourcing) and aviation service providers.
- Air City with offices, hotels and associated services for passengers and users.
- Aeronautical and cargo activities.
The plan is also characterised by its location and strategic connections, the synergies and appeal of different activities with the Airport as a nexus, and the opportunity to develop new products with environmental, social and economic sustainability at its core, as well as by Aena’s commitment to the land, guaranteeing the coexistence of the project with the surroundings.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
