Madrid, February 24 – The House of Alba, one of Spain’s most prominent noble families, is reportedly restructuring its extensive real estate holdings in Madrid, shifting its focus towards tourism. This strategic move has led to the eviction of long-term tenants and businesses, sparking controversy and raising questions about urban development in the capital.
New Generation, New Strategy
Janick Benoit, an octogenarian facing eviction from her home near the Liria Palace, attributes this change to Fernando Fitz-James Stuart y Solís, the eldest son of the current Duke of Alba. “Fernando has modern ideas that everything can be turned into gold,” Benoit stated, contrasting his approach with that of the late Duchess of Alba and even his father. At 35, Fernando, currently the Duke of Huéscar, is believed to be orchestrating the shift in the family’s substantial Madrid property management.
The Alba Estate in Madrid
The House of Alba’s Madrid real estate is concentrated around the 18th-century Liria Palace, located near the Conde Duque barracks, specifically at 20 Princesa Street, close to Plaza de España. The family owns ten other buildings in this vicinity. Janick Benoit resides in one of six blocks of houses that form a corner between Duque de Liria and Manuel streets. These properties collectively span 13,067 square meters, with 10,913 square meters historically dedicated to residential rentals for “trusted” individuals since the time of Cayetana Fitz-James Stuart, the previous Duchess of Alba.
Evictions and Rehabilitation Plans
These blocks are currently being emptied by the House of Alba, ostensibly for “updating and preserving these historic buildings” due to their “current state,” according to a communications representative for the property. The representative added that “the rehabilitation process is being carried out with the utmost sensitivity and respect towards those who have resided in the properties.”
Bala Investment, a company specializing in maximizing real estate asset performance, is handling the evictions. Bala’s president, Enrique Dancausa, is the brother of Concepción Dancausa, a former Madrid City Council member and former advisor to the Community of Madrid under Ayuso. The property’s representatives assert that “dialogue with tenants is developing individually, transparently, and with full willingness to adapt solutions to each specific situation. As it should be, all contracts are being scrupulously respected.”
Uncertain Future: Tourist Apartments?
The future use of the buildings on Manuel and Duque de Liria streets remains unclear, but residents fear they will be converted into tourist accommodations, following a pattern observed in two other nearby Alba properties. The House of Alba maintains that “no decision has been made on the future use or final destination of the properties once the modernization work is completed.” However, urban planning regulations approved by the Almeida government last September allow for a portion of these homes to be permanently designated as tourist apartments, and another portion for the same purpose for a maximum of 15 years.
Tenants’ concerns are fueled by the transformation of two other family properties west of Liria Palace. Buildings at 22 and 24 Princesa Street, previously rented as offices, were emptied by another intermediary company, Copla City Rentals (linked to the son of former President José María Aznar). These are now undergoing renovation to reopen as tourist accommodations, a project approved by the City Council almost two years ago. While no opening date has been set, an economic study for this project projected an annual turnover of 2,064,616 euros from 66 tourist apartments (46 two-bedroom and 20 three-bedroom), with a planned construction budget of 5.6 million euros.
Liria Palace and Family Disagreement
The family’s tourism venture extends to the Liria Palace itself, which opened to the public in 2019. Entrance fees have risen from 14 to 20 euros, and the palace is now a recommended attraction for high-spending foreign tourists visiting Madrid. This move, however, has drawn criticism from Cayetano Martínez de Irujo, the current Duke of Alba’s brother, who lived in the residence until their mother’s death. “The House of Alba has turned 180 degrees with respect to the work my mother did and the projection she had given it for the future. She would never have done this,” Martínez de Irujo commented on the TV program ‘Todo es Mentira’.
Regarding the eviction of tenants from rental buildings, he also expressed reservations about who ultimately issued the order, without explicitly naming his nephew Fernando: “I doubt my brother Carlos did it; I lack information. It’s hard for me to think they would want to evict tenants with an issue like this.”
Other Alba Properties
The fate of two other Alba properties, partly dedicated to tertiary services, is yet to be determined. The smaller one, at 18 Princesa Street within the Liria Gardens, currently houses a high-end restaurant. The larger property, with five floors and 3,381 square meters, was separated from the palace gardens and is located at 4 Mártires de Alcalá Street. It currently hosts a children’s party entertainment center, which contrasts with the family’s growing focus on tourism in Madrid.
