Aena has awarded the contract for the first logistics area at the Adolfo Suárez Madrid-Barajas Airport City to P3 Group Sarl.

Wholly owned by GIC (Government of Singapore Investment Corporation), one of the world’s largest and most active sovereign wealth funds, P3 Group Sarl is a European logistics real estate investment, development and management company. Its winning tender for the project reached around €168.7m, including an investment offer (committed capital) of €116,155,306 and an upfront investment of €52,597,235.

Aena said that the tender’s success was due 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 (JV) will be formed in which Aena will hold a 35% stake. The JV company will hold the building lease that Aena will establish on the plots in Area 1 for a period of 75 years and is expected to deliver “one of the most cutting-edge and innovative logistics parks built to date”. Aena’s contribution to this company will be in kind, namely the building lease, while the investor’s contribution will be in cash to finance all costs during the development period provided for in the tender and an upfront to balance the distribution of the company.

A cutting-edge and sustainable Airport City
The first area awarded, defined within the areas for logistics development and associated airport activities, consists of 28 hectares of land for development, with 152,914m2 of buildable area and four hectares for associated green spaces. This area 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.

P3 Group Sarl’s tender involves 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 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.

The development 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.

P3 Group Sarl's tender also aims 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.

Image: Aena