Based on an official statement from realmadrid.com, Real Madrid have taken a key step in moving forward with their plans to remodel the Santiago Bernabéu:
The Real Madrid C. F. Board of Directors met today, 8th May 2019, and decided to award the duties of remodeling the estadio Santiago Bernabéu to FCC Construcción. The evaluation report carried out by the independent engineering company, Ayesa, contracted by the club, deemed the proposal put forward by FCC Construcción to be the most economically viable, and it was deemed to be the quickest way to carry the project out, as well as having a construction system in place that minimizes any hindrance to the operating of the stadium and its surroundings.
The timeframe needed to remodel the estadio Santiago Bernabéu is 39 months, meaning it would be finished by August 2022, plus an additional four months needed to develop the stadium’s exterior.
The open competition for constructors’ proposals started on 30th October 2018 when invitations were given out to all major Spanish construction companies, excluding Dragados, in line with the club’s code of ethics. Real Madrid would like to underline that all of the proposals presented showed great technical detail and competitive pricing.
The remodeling works will happen alongside the normal sporting calendar and the stadium’s usual activities: Tour Bernabéu, official club store, restaurants, etc…
The awarding of the estadio Santiago Bernabéu Remodeling contract, along with the finalization of the financing agreed on 12th April, means that work on the project to start immediately.