The Montoro family is building a hostel in Madrid Nuevo Norte for students, one of the richest families in Spain

by Amenabar, which is already in the final stages of works. The new student residence will be managed by UK-based Collegiate, which will be its first asset in the capital.

The building will be built on a 2,519 square meter plot, according to Cadastre. Information provided by the developer claims that the new building will have two underground parking lots for 120 cars and 13 spaces for motorcycles. Among the services that residents will enjoy include laundry facilities, a cafeteria, library and reading rooms, a movie room, gym, outdoor terrace-solariums, bike space on the porch, a swimming channel and rooftop entertainment area, and a private pool with public areas on the first floor.

For over 15 years'. 'Urban planning procedures The new student dormitory required a long process of urban planning approval because the plot on which it is being built is part of Specific Plan 05.08 "Calle José Vasconcelos". According to available information, in 2002, the Trome S.A. company, which owns 91.55% of the plot, designed and approved a detailed study for the construction of a building for commercial and hotel use. This initiative was canceled and it was only in 2015 that Monthisa acquired ownership of the land by purchasing 36 plots without taking on debt.