Thyssen-Bornemisza Museum to expand in Madrid with new building

The Museo Nacional Thyssen-Bornemisza will expand its operations by occupying the former Palacio de Hielo y del Automóvil in Madrid. The Ministry of Finance will cede the 15,000-square-meter building, located on Calle Duque de Medinaceli, to the museum. The Spanish government has allocated a budget of approximately 70 to 90 million euros for the rehabilitation of the historic site.

As part of this expansion, the museum will receive a significant influx of contemporary art. Francesca Thyssen-Bornemisza, founder of the TBA21 Foundation, is donating 186 works and providing a long-term loan of 179 pieces. This collection, valued at a combined 25 million euros, includes works by artists such as Ai Weiwei, Marina Abramovic, and Maurizio Cattelan. The new space will be primarily dedicated to 21st-century art.

In addition to the museum's expansion, the building will host a 1,500-square-meter space for the Madrid headquarters of the Centro Memorial de las Víctimas del Terrorismo.