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In recent years, the land to the north of the city of Madrid has been developed. Sanchinarro, Las Tablas, Montecarmelo and Valdebebas are the new neighbourhoods in the north. Here, you can find a wide range of flats and lofts in new buildings. These neighbourhoods are not yet well established, but they are becoming increasingly popular. One reason is the family atmosphere that attracts new families seeking a home away from the centre to bring up their children. Another is that some important companies, such as Telefónica and the BBVA, have built their headquarters here, making it a very attractive area for people working nearby. These neighbourhoods are well communicated and provide direct access to the main ring-roads around Madrid.