Madrid's Madring Formula 1 circuit can host the best race on the calendar when it debuts next season, according to home driver Carlos Sainz.
The Spaniard told reporters on Friday that the 5.47-kilometre layout, with 22 turns, will have its own hybrid character with tight street sections and a more open area with high-speed corners.
"I think we can be the best circuit in the world and the best event of the whole calendar," said the Madrid-born Williams driver, who took part in a news conference as an event ambassador.
"There will be 24 or 25 races, and I honestly think along with Mexico, Miami, Las Vegas that do it very well but sincerely I trust a lot in Madrid and I believe that Madrid can do better."
Local authorities said licences and paperwork were ready from Friday for building work to begin.
Spanish engineering firm Acciona and France's Eiffage have won the contract to construct the circuit in an urban area in Madrid's northeast, around the IFEMA exhibition centre.
It is expected to be completed by May 2026 and cost €83.2 million ($94.57m), Acciona said.
The Madrid circuit will eventually replace Barcelona's Circuit de Catalunya, currently host of the Spanish Grand Prix, which is located some 32km from the eastern port city with a roughly 45-minute walk from the nearest station.
Spain is set for an overlap next season with Madrid and Barcelona, which will be in the last year of its contract, both expected to feature.