This transformation is being managed by the Alting Developments department with prestigious architecture studio Rafael de la Hoz.
Madrid, 6 March 2025 – Alting Group, a benchmark in the real estate sector, announced it has purchased the building at Gran Vía 3 in Madrid. The total floor space of the property is 3,100 m², which will all be turned into a 4* Superior hotel.
The operation is part of Alting’s expansion and portfolio diversification plan focusing on prime locations. With this purchase, the company is consolidating its place in the Madrid real estate sector and reaffirming its commitment to renovating emblematic buildings and turning them into innovative projects that add value to the city’s economic and cultural landscape.
A new future for Gran Vía 3
The building, which was home to Community of Madrid government offices until 30 June 2024, will become a luxury hotel.
The Alting Developments department has handled the meticulous urban planning process to transform the building for use as a hotel, which includes changing its façades.
The architectural project is being led by Rafael de la Hoz and his architecture studio, one of the most prestigious in Spain and internationally. Their extensive experience with projects that stand out for their innovative design and sustainability will ensure the future hotel meets the very highest standards of design, sustainability and functionality.
The work is expected to finish in the first quarter of 2026. The total investment for this project is estimated at €35 million.
An investment in the future
This ambitious project is one more example of the Alting Group’s experience with comprehensive project management, encompassing everything from acquiring the asset to urban planning, commercialization, contracting builders and trades, overseeing work and launching the new hotel space.
Alting Deputy Director General Javier Marcos noted: “Acquiring Gran Vía 3 is a huge step towards achieving the company’s strategic growth goals, which include growing our portfolio in Madrid by acquiring properties in exceptional, highly sought after locations like Gran Vía, with great potential for future appreciation in value.”
About Alting Real Estate Group
Alting Real Estate Group is focused on investment, generating value and managing buildings in prime and CBD locations in Barcelona and Madrid for its portfolio of properties for lease or to eventually sell.
With 48 years of experience, the Alting business model is based on excellence and creating top quality prime products, treating each project as a one-of-a-kind piece to maximize its value in every aspect through asset repositioning, transformation and management actions.
Diversification of the Group’s porfolio of assets (offices, hotels and residential classes), geographic scope (Barcelona and Madrid) and business units (Investments, Developments and Real Estate Consulting) give the company long term stability, security and solvency.
For more information:
Communication Department
comunicacion@alting.com
+34 93 505 40 40
