Culmia and Grupo Avintia will begin work in June on the first 783 homes of the total of 1,763 of the VIVE Plan of the Community of Madrid

04 of May of 2022

• They will start with the development of 5 projects that will be available for the first families to move in at the end of 2023.
• The whole project, with a total investment of 200 million euros for 1,763 homes distributed over 12 plots, will be carried out by means of industrialised construction and will be completed in the third quarter of 2024.

3 MAY 2022. Culmia and Grupo Avintia, through Ávita, its industrialised construction company, have announced the start of work on the first homes of the VIVE Plan of Madrid they were awarded last year and which envisages as a whole a package of 1,763 homes distributed over 12 plots located in the municipalities of Sebastián de los Reyes, Tres Cantos, Alcorcón, Alcalá de Henares and Getafe.

Once the Community of Madrid has confirmed that the basic plans meet all the requirements of the initial specifications, and expecting to receive the first building permits shortly, it is estimated that the construction of the first 5 developments will begin in June, adding 783 new homes of the total of 1,763 of the entire allocated package. According to these deadlines, the first families will be able to move into these homes by the end of 2023.

The VIVE Plan developed by Culmia, which involves an investment of more than 200 million euros, will be executed by Ávita, an industrialised construction company of the Avintia Group with a model that means delivery times can be cut by up to 30%, and addresses sustainability throughout the buildings’ life cycle. The intention of both companies is to complete the construction of all the homes by the third quarter of 2024.

These homes will subsequently be managed by Sogeviso, one of the leading rental managers in the real estate sector, which specialises in the socially responsible and economically sustainable management of real estate portfolios.

For Francisco Pérez, CEO of Culmia, "the excellent work of the professionals working on this affordable housing project is allowing us to meet the initially established deadlines, focusing on one of our strategic lines for which we intend to offer for some 4,000 homes of the public tenders of 2022."

According to Antonio Martín Jiménez, Chairman of Grupo Avintia, "the confidence of a large company, such as Culmia and the public authority in Ávita to execute this first major project carried out with industrialised construction in our country highlights that the solution to many of the short-term problems of the sector lies in innovation and industrialisation.

The first phase of the VIVE Plan of the Community of Madrid provides for the construction and subsequent development of more than 6,600 homes distributed throughout the region on an affordable rental basis asequible. As a whole, the project aims to create 25,000 new homes in the Community of Madrid over the next eight years. It has an investment of 700 million euros and its goal is to facilitate access to housing for specific groups, such as young people under 35, those over 65, the disabled and women victims of gender violence.