Caleido awards the works for the start of its construction to OHL

Caleido, the capital’s new and ambitious real estate project has awarded its construction to OHL. This innovative complex is located in the Cuatro Torres Financial District and has been designed by the studio Fenwick & Iribarren, co-authored with Serrano Suñer. The project is the outcome of the partnering between private and public initiative.

The purpose of the call for tenders was the submission of bids for the performance of the structure and architecture of Caleido. With this decision, OHL, which has already commenced the construction work, undertakes to ensure the start-up of the complex as from the last quarter of 2020. The entire process has been audited by the firm, TYPSA, on the basis of the criteria established in the bidding terms & conditions. 

The start of the process took place in September 2017 and, during a period of three months, the 3 companies invited to bid that met the requirements set in terms of “good technical and economic standing” were able to submit their final offer. The bidders had to show the feasibility of their proposals for executing the structure, finishing work, engineering, electrical installations, among other aspects.

The demolition and foundation works for Caleido have been in progress since May of last year. These underground works have constituted the first major step for the reconditioning of the pre-existing framework erected on the site for the former project, on which the 33,326-square-meter facility will be built. Now, following the decision on this call for tenders, the construction work will begin to be more visible for passersby in the northern area of Madrid.

The land, owned by the Madrid City Council, has been transferred to Caleido through a surface right for the construction and operation of the project during the next 75 years, with an annual fee of 4 million euros.

The total investment involved in  Caleido is estimated at 300 million euros. During its construction, the project will generate 864 jobs in Madrid and 1,559 in the Autonomous Community. These figures will increase in the course of the project’s 75 years of operation, as it is expected to create as many as 2,092 jobs locally and 3,992 on the regional level. Its contribution to GDP is estimated at 53.8 million euros in Madrid during the construction period and 30.9 million euros in the region. Once construction is completed and with the start-up of the project, this contribution will increase in its operating stage to 274 million euros in Madrid and 71 million in its Community. 

A report prepared by PwC on the economic impact of the project on the city of Madrid will be published in the next few weeks.

About Caleido

Caleido is a 100%-sustainable project, designed for the benefit and wellbeing of people, which will meet all of the standards set in terms of sustainability and energy efficiency with the objective of obtaining the prestigious Leed Gold Certification.

Its location in the north Madrid area, at the top of Paseo de la Castellana on the odd side of the street, is one of the most strategic in the capital. The future complex will consist of a 36-storey vertical building 165 meters tall that will be home to the Instituto de Empresa (IE), with the first high-rise university campus in Spain, and a horizontal building on the basis of 4 floors and 20 meters in height, where Grupo Quirón Salud will operate a center for advanced medicine. Both institutions are the main partners of the real estate complex.

In addition, the future complex will become a business reference in the area, as Caleido will include a large shopping and services area that will house new offerings in apparel, hospitality and entertainment, spaces for sport, art and culture. Extensive green areas at the service of the city and local residents will round out this innovative space, Caleido.

OHL will build Caleido, an ambitious project in Madrid.