The measures will give an important boost to its mission of staying at the forefront of the sector in Spain and consolidating itself as a reference space in leisure and entertainment, deepening its main line of diversification.
According to De los Mozos, one of the first projects to be launched once the summer is over will be the transformation of the IFEMA MADRID catering facilities, which will become a gastronomic hub. "We are investing more than 12.5 million to finance a strategic project that will start operating in September 2023 and it is expected to have a turnover of more than 121 million euros in the next ten years."
As for diversification, one of the main strategic business areas of the Institución Ferial de Madrid, is committed to offering top-level leisure and entertainment equipment that complements that of the capital with an investment project highly anticipated by the main producers of shows and concerts in the country. According to the president of IFEMA MADRID, "we are adding new infrastructure to the current venue to create the Boulevard de los Musicales, which is expected to be operational in 2027. For this, an investment of close to 40 million euros will be necessary to build the most grandes de Madrid". It will be an independent project on the IFEMA MADRID premises and will host events with a long history and success in an outdoor space that will also have an important gastronomic facet.
José Vicente de los Mozos also announced an important sustainability project. In this field, IFEMA MADRID is making a great effort that will be boosted by a photovoltaic solar plant in the Fairgrounds, with a planned investment of between 7 and 9 million euros and an installed capacity of more than 6MW, which will make it a the largest photovoltaic solar installation in the city of Madrid. . The president of IFEMA MADRID has clarified that "this project consists of a photovoltaic solar installation for internal self-consumption that is expected to come into operation at the end of 2024 and that it will reduce the electrical cost of the venue by more than 30%, according to initial estimates " .
The development of Valdebebas was another of the issues addressed by the president of IFEMA MADRID. The project was on hold during the two years of the pandemic and has been resumed, having requested land for IFEMA MADRID from the City Council, which enabled it to use a plot of more than 500,000 square meters to expand the facilities. De los Mozos says that he hopes "that this land, which is currently linked to the current site by a tunnel that passes under the M-11, will be granted soon and will allow the growth of the institution, as well as its ability to attract important international events and work on new projects and initiatives".
Regarding the current situation regarding the possible transfer of the Palacio de Congresos de la Castellana, the president of IFEMA MADRID pointed out that "we are exploring possibilities when the tender is processed, including a possible collaboration with Real Madrid, but this depends on the conditions ”. of the tender of the Ministry of Industry, Commerce and Tourism. The fact is that we are working on all the possible options that can foreseeably be requested in the specifications when the Ministry publishes it. It will depend on whether these specifications conform to the objectives and variables of IFEMA MADRID and their viability to qualify for this contract. Of course, we believe that this asset must be recovered for Madrid, and if it is feasible, we will bid for it”.
These investments and strategic and transformational projects are essential to exploit the full potential of IFEMA MADRID, considered the second economic engine of the Community of Madrid after Barajas airport, with a contribution of 5,100 million euros (3.2% of the GDP of the city and 2.8% of the region's GDP) and more than 40,000 jobs, which will affect the economic expectations of the institution for 2023, with a turnover of around 180 million euros.