Madrid's Formula 1 Track: A New Urban Racing Frontier

Spanish firm Acciona and French company Eiffage have secured the contract to construct a new Formula 1 circuit in Madrid, which will be completed by May 2026. The 5.47 km track, located near the IFEMA exhibition center, is part of a trend of urban race locations.

Spanish engineering leader Acciona, alongside French contender Eiffage, has clinched the contract to build Madrid's anticipated new Formula 1 circuit. Official word from Acciona claims that construction on the 5.47-kilometer raceway, stationed in an urban area near Madrid's IFEMA exhibition center, kicks off this month and is slated for completion by May 2026, ringing in at about 83.2 million euros ($94.57 million).

The project sees Acciona in control of 60% of the joint venture while Eiffage holds a 40% stake. This move aligns with Formula 1's ongoing strategy to engineer high-octane events within bustling city hubs. Such venues, while not always promoting top-tier racing, offer a blend of speed, music, and entertainment.

More and more urban tracks are joining Formula 1's circuit roster, with recent additions including Las Vegas Strip, Miami's Hard Rock Stadium, and Singapore's Marina Bay. The impending Madrid circuit aims to supplant Barcelona's Circuit de Catalunya, currently the spotlight for the Spanish Grand Prix, heightening competition between these Spanish locales.

(With inputs from agencies.)