The Cordish Family, to build the first European Live! District in Spain

Still pending approval by the Madrid Autonomous Government, Cordish Live! District project means €2.2Bn investment

Eva González Madrid (Spain), 2 December, 2016

The Cordish Companies confirmed to Eastwind plans to build in Madrid the largest leisure complex in Europe. The location chosen for the project is Torres de la Alameda, a town in the Henares Corridor, near Barajas -Adolfo Suarez Airport- .
The project that is still pending approval by the Autonomous Community of Madrid (ACM) provides for the construction of an integrated complex of leisure and hospitality spanning over 300 acres (more than 12 hectares -1 acre equals 4046.86 square meters-).
If approved the project will mean a € 2.2bn investment and Cordish estimates it will generate over 56,000 jobs including permanent jobsa and those to build the complex.
It is estimated that The Live! District, this is the name of the project, will generate more than €4Bn in economic activity over a five-year period (up to € 1.4Bn from operations and € 2.6Bn from construction works).

Cordish estimates that The Live! District will attract more than 1,680,000 visitors in the first year it is operative. Visitors will come, not only from the ACM itself, but from all over Spain -its domestic market-, as well as comming from other countries.

Live! District Madrid. Render of the project. © The Cordish Companies.

Live! District Madrid. Render of the project. © The Cordish Companies.

The Cordish Companies will manage and is issuing its proposal on the The Live! District through its Spanish subsidiary, which is headquartered in Pozuelo de Alarcón and operating under the name The Cordish Companies’ Global Cities Madrid Live !, SA. since its establishment in this Mediterranean country, just six months ago.

Hotels, restaurants, convention center, offices theaters, casinos and many more

Once completed the project The Live! District will offer 2,700 hotel rooms, several spas, lagoon-style pools, more than 1 million square feet (1 square foot equals .0929 square meters) of retail space, nearly 170,000 square feet devoted to restaurants, 275,000 square feet of convention and meeting space, approximately 450,000 square feet of luxury office space, about 125,000 square feet for games and nearly 2,000,000 square feet of entertainment and live entertainment.

Torres de la Alameda. Image by Jacinta Lluch Valero (España-Spain) - Torres de la Alameda * Madrid, CC BY-SA 2.0. T watch the original image, click here

Torres de la Alameda. Image by Jacinta Lluch Valero (España-Spain) – Torres de la Alameda * Madrid, CC BY-SA 2.0. T watch the original image, click here

The restaurant offer will be varied from Mediterranean cuisine outlets (Spanish – both creative and regional, French …), Asian cuisine and also those that will offer American cuisine.
Live entertainment venues include Broadway theater style, comedy club, bowling, live music and movie theaters.

The Great Central Plaza at the heart of the project will include a large market, along with specialty bars, lounges, dance clubs and cafés.

Nothing to envy to the failed Adelson’s Eurovegas

The Live! District surpasses by far the size and investment that the Eurovegas project by Las Vegas Sands, which was aborted. But with 2700 rooms The Live! District Madrid is far behind Eurovegas in number of hotel accomodations. Adelson’s project included 36,000 rooms spread over 12 hotels from two to five stars.

Live! District Madrid. © The Cordish Companies.

Live! District Madrid. © The Cordish Companies.

On the contrary, the projected 11,612.88 square meters in The Live! District Madrid for casinos make the meager 2,480 square metters at the Eurovegas project pale. The spaces for live shows and retail also far exceed those of the project proposed once to the ACM by Las Vegas Sands.

Comparing the two multinationals, we could say that Las Vegas Sands is a young and tiny girl.

Established  in 1910, the current is the fourth generation of the Cordish family at the head of the multinational. One of the most reputed real estate and urban project developers in the world, The Cordish Companies is not only engaged in the casino business, but also builds and manages commercial areas, co-working spaces, hotels, residential complexes, hotels, restaurants and sports complexes.

The group includes a private equity firm and has a strong international presence with major projects in Japan, China and Taiwan. That to be built in Madrid would be Cordish first complex of this kind in Europe.

It seems, by the name and description of the project, that the face of Cordish who has arrived in Spain is the concept Live !, the brand of leisure complexes, hotels and casinos belonging to the multinational. In fact, the speaker who has made statements on behalf of The Cordish Companies regarding the Madrid project is Joseph Weinberg (CEO of Cordish Global Gaming and CEO of Cordish Global Cities Entertainment).

Joe Weinberg, Managing Partner, The Cordish Companies, Global Cities affiliate said: “The Live!

Joseph Weinberg (CEO, Cordish Global Gaming and CEO, Cordish Global Cities Entertainment). © The Cordish Companies.

Joseph Weinberg (CEO, Cordish Global Gaming and CEO, Cordish Global Cities Entertainment). © The Cordish Companies.

Integrated Resort & Entertainment District in Madrid is one of the most exciting and unique integrated resort & entertainment developments in Europe that will not only enhance the regional resort and entertainment markets, but also serve as a major domestic and international tourism destination. We look forward to working with the Madrid Regional Autonomous Government and the entire community as we move forward on our proposal to develop the region’s first world-class integrated resort destination”.

“We are committed to supporting the Madrid community through significant monetary contributions and in-kind services,” stated Weinberg. As part of its corporate culture, all ofits employeesand customers are also encouraged to volunteer their time in support of community initiatives”.

Among the  Live! concepts developed by Cordish are some in association with brands like Budweiser or Hard Rock, also partnering with some tv brands like Fox Sports.

Image over the headline.-Members of the Cordish family at the head or the Cordish Companies. From left to right: Blake Cordish (Vice President of The Cordish Companies), Jonathan Cordish (Vice President of The Cordish Companies), David Cordish (President and CEO of The Cordish Companies) and Reed Cordish (Vice President of The Cordish Companies). © The Cordish Companies.

Related Eastwin links (Spanish edition of our old platform):

Aguirre se va, pero con Eurovegas en marcha

Eurovegas se queda en Madrid

El proyecto Eurovegas presentado a trámite para licencia

Related external links:

The Cordish Companies (historia de la compañía)

El concepto Live! de The Cordish Companies