The luxury hotel sector is strengthening its position in Madrid. Following the opening of the Mandarin Oriental Ritz Madrid in 2021, the luxury hotel firm based in Hong Kong (China) has renewed its commitment to the Spanish capital and announced plans to develop Mandarin Oriental Residences.
The complex will consist of 30 luxury apartments with hotel services in a property located at the intersection of Calle Hermosilla and Calle Nuñez de Balboa, in the central Salamanca district. It is scheduled to open in January 2025.
Following the recent deal at Mandarin Oriental Punta Negra in Calviá (Mallorca), this will be the second project in partnership with real estate investment manager Blasson Property Investment and the first with Pictet Alternative Advisors (PAA), the alternative investment arm of Swiss private equity firm Banco Pictet.
Mandarin Oriental Residences Madrid will be in the heart of Madrid's Salamanca district, famous for its luxury shops, bars, restaurants and leisure facilities. The project will be developed by Bueso-Inchausti & Rein Arquitectos.
The residential properties, which will be distributed over seven floors, with up to 283 m2, will have two- and three-bedroom layouts. Each will have a private balcony, and six will boast private swimming pools.
Common areas include a lounge, a landscaped garden, a beauty salon, a fitness centre and a car park. The residences will also feature an outdoor heated swimming pool, spa treatment rooms and a training pool.
"We are delighted to announce Mandarin Oriental Residences, Madrid, which will set a new standard for high-end living in one of Europe's most exciting destinations," said Mandarin Oriental Hotel Group CEO James Riley.
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