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    Reference: 20220108
    Release date: 21 June 2022

    Promoter – Financial Intermediary




    Financing of the construction and operation of approximately 14 000 affordable housing units in the Madrid Autonomous Community under several 50 year concessions granted by the regional government.


    The project will increase the offer of affordable housing units in the Madrid region and will contribute to reducing the gap between existing demand and supply, notably in the rental segment. It will, additionally, increase social inclusion and improve the sustainability of the urban environment by providing these new developments closer to the new tenants' workplace and, therefore, reducing commuting times.


    Proposed EIB finance (Approximate amount)

    EUR 400 million

    Total cost (Approximate amount)

    EUR 700 million

    Environmental aspects

    Compliance with the relevant EU Directives will be verified during appraisal: EU EIA Directive 2011/92/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project appraisal. The proposed investments should lead to the physical rejuvenation of their locations and therefore result in a better living environment.


    Each lot will be subject to a separate procurement process for the design, building, maintenance and operation of the concessions to be provided to different specific purposes vehicles (SPVs) incorporated solely for the purposes of exploiting the concession. The Bank will require the Promoter (Comunidad de Madrid) to ensure that contracts for the implementation of the project have been and will be tendered in accordance with Directives 2014/23/EU, as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.


    Under appraisal - 7/06/2022


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Urban development