Madrid City Council has awarded a EUR 98.4 million (US$ 102 million) project to Ferrovial, in consortium with Gyocivil and Licuas, which will lead the project to transform the northern end of Paseo de la Castellana, which includes works to depress the section between Calle Sinesio Delgado and Nudo Norte Calle 30. 

With a developable surface area of almost 70,000 m², the project will create a modern and efficient public space, including green areas and civic spaces designed to give pedestrians priority. It will also generate significant environmental improvement as it involves the planting of hundreds of new trees and thousands of shrubs.  It will also connect the Virgen de Begoña district and the future Madrid Nuevo Norte development with the city center, boosting north-south mobility along this urban axis.

The work includes depressing the road, routing surface-level lanes to the sides, and creating a two-lane cycleway to transform one of the city’s most congested areas into a more accessible, functional and sustainable space. It will be carried out by a consortium led by Ferrovial’s construction division (with a 65% stake) in collaboration with Gyocivil (17.5%) and Licuas (17.5%).