Crea Madrid Nuevo Norte reports 8.2 million euro loss in 2025

Crea Madrid Nuevo Norte, the developer behind the Madrid Nuevo Norte (formerly Operación Chamartín) project, reported losses of 8.2 million euros for the 2025 fiscal year. This represents a significant increase from the 4.5 million euro loss recorded in 2024.

The company's revenue rose slightly to 2.2 million euros, primarily from services provided to urban development management commissions. However, operating results were negative at 12.4 million euros, driven by higher financial expenses.

The 2025 period followed the formal acquisition of land from public railway entities in December 2024. This milestone led to the assumption of a long-term mortgage-backed payment deferral totaling 767.3 million euros by the end of the year. Additionally, the company canceled approximately 207 million euros in short-term bank credits in May 2025.

Ownership of the company is distributed among BBVA (75.5%), Merlin Properties (14.5%), and Grupo San José (10%). A capital increase of 66 million euros was approved and fully subscribed in cash by the partners in late 2025.