.jpg "Promoción del Plan VIVE de la Comunidad de Madrid que desarrolla AEDAS Homes como 'project manager' en Torrejón de Ardoz (1)")
AEDAS Homes, Spain’s leading listed homebuilder, further strengthened its commitment to the development of a sustainable industry that facilitates access to and the production of affordable housing in Spain over the course of its last fiscal year, which ended 31 March 2024. Currently, the developer has 4,500 affordable units underway as part of the Madrid Region’s Plan VIVE scheme, in addition to the properties with some form of protection that it develops through its core business, with co-investment parties or for third parties.
During the 2023/24 fiscal year, the developer group handed over the keys to 241 affordable housing units for ownership and rental (BTR), representing 8% of the 2,938 total units delivered. With these 241 affordable homes, AEDAS Homes has facilitated access to housing for young people and families at affordable prices and rents in Valladolid, Cornellà de Llobregat (Barcelona), Dos Hermanas (Sevilla), Granada and Madrid, in the El Cañaveral area.
All in all, the company has delivered some 650 affordable homes in the past several years: 350+ units through its core development line and around 300 units through co-investment via its Real Estate Services division.
Plan VIVE
In addition to these roughly 650 affordable housing units that have already been delivered, AEDAS Homes is providing project management services to 3,582 units under construction through the Madrid Region’s Plan VIVE I scheme. Construction on these affordable rental units is already very advanced, meaning they will soon be available to put on the rental market at regulated prices. The developer will begin delivering the first of these affordable units this coming September, with 2,400+ units slated for delivery during the current fiscal year, representing 67% of the total.
The Madrid Region also recently awarded AEDAS Homes three lots to develop an additional 900+ affordable units for rental through its Plan VIVE III scheme. Once the developer breaks ground on these projects in various municipalities in the Madrid Region in the coming months, it will have a total active portfolio of affordable housing for rent of roughly 4,500 units in the Madrid region.
“AEDAS Homes’ commitment to providing housing access is reflected, fundamentally, in our efforts to develop affordable housing,” asserted David Botín, Chief Real Estate Services Officer at AEDAS Homes, who emphasised that “the organisation is working to contribute to the development of a sustainable industry that facilitates access to housing, especially for the younger population”.
Mr. Botín highlighted the company’s concern about “the gap between market supply and demand”, warning that this imbalance “is excluding large segments of the population from accessing housing” and noting that “the public-private partnership formula allows for the rapid production of a large volume of affordable homes, whether for rent or ownership”. He continued by saying that “AEDAS Homes plans to study Plan VIVE-type schemes being developed by other autonomous communities beyond Madrid and by municipal administrations”, working with all necessary stakeholders, including government, construction companies and investors, to continue expanding the company’s presence and activity in the affordable segments as long as conditions and returns are satisfactory.
Real Estate Services division in 2022
Mr. Botín recalled how, after acquiring Áurea Homes and being awarded Plan VIVE I in 2021, AEDAS Homes took the pioneering step of creating its Real Estate Services division in 2022, through which it finds partners and opportunities for continued growth, as well as supporting the development of affordable new-build housing. “The company is promoting a model in which building affordable housing directly through our core business line, signing co-investment agreements to develop affordable housing and using Modern Methods of Construction all play a key role in increasing the stock of affordable new-build housing”, he concluded, adding that “AEDAS Homes is the benchmark industrial partner for institutional capital that is interested in developing housing in Spain”.
