'Our responsibility is to bring down the building to the ground floor so that it no longer poses a risk to other infrastructure and the general public. After that it is up to the owner to decide what to do with it, ' says Madrid's department for building control head Garcia de Burgos.
So far the owner, the family run Ason Corporation, has not decided whether to rebuild on the same footprint using the existing foundations, or start again from scratch. This would be an extremely complex job with the metro tunnel and the underground car parking facility weaving below the structure.
Locals are betting that a new, similar size tower will be built on the existing foundations in order to get a building up as quickly as possible and the rental fees pouring in.