Culmia will build 2000 plus affordable homes for the Madrid City Council and the Community of Madrid

22 of March of 2023

• Culmia was the successful bidder for the only plot of the Community of Madrid’s Plan VIVE II, which considers 1137 homes divided into five smaller batches located in the municipalities of Boadilla del Monte, Pinto and Colmenar Viejo. And for plots 1 and 5 of the Madrid City Council’s affordable housing plan, consisting of 867 flats in the districts of Hortaleza, Usera, Arganzuela, Fuencarral – El Pardo, Carabanchel, San Blas and Villaverde.
• The company plans a total investment of 515 million for all the projects it was awarded for affordable housing.
• Work on the first homes is expected to start in the first quarter of 2024, for the handover of the first homes to families starting in quarter two of 2025.
• Culmia was already the successful bidder for phase one of the Plan VIVE for a plot of 1763 housing units under construction now.

Culmia, the leading residential property management project platform in Spain, was awarded two plots in the affordable housing plan of the Madrid City Council and the only plot for the Community of Madrid’s Plan VIVE II.

Regarding the City Council’s affordable housing plan project, Culmia won plots 1 and 5 and will thus develop 867 homes located in the Madrid neighbourhoods of Valdebebas (Hortaleza), San Fermín (Usera), Atocha (Arganzuela), Peñagrande (Fuencarral – El Pardo), San Isidro (Carabanchel), Rejas (San Blas) and Los Ángeles (Villaverde). All of them located in strategic points of these neighbourhoods on plots ready for building.

On its part, the single plot of the Community of Madrid’s Plan VIVE II envisages the construction of 1137 homes in the municipalities of Boadilla del Monte (524 homes), Pinto (422 homes) and Colmenar Viejo (191 homes).

All of the homes stand out for their high construction quality and energy efficiency, as well as having a programme for community shared areas that will include spaces suitable for recreation and exercising, and other activities such as teleworking.

It merits mention that the flats in the Plan VIVE II shall especially stand out for their high levels of efficiency and sustainability, holding the highest energy efficiency rating and with BREEAM sustainability certification Very Good or Excellent.

The construction of this project is characterised by being industrialised, a model already used in housing being built for phase one of the Plan VIVE by Culmia, which offers multiple advantages in the process: handover periods can be reduced by up to 30% and the waste generated during works can be reduced by some 60%, decreasing CO₂ emissions with more energy efficient homes and centred on fighting occupational accident rates during the works.

The project for this second phase of the Community’s Plan VIVE will once again count on Ávita, the comprehensive industrialised construction system of Avintia, as the building company, and on Sogeviso, one of the primary servicers specialising in socially responsible and economically sustainable management of property portfolios, as the property management company.

Regarding the Madrid City Council’s affordable housing plan, Culmia will employ the most advanced means in their production, turning to BIM design processes in a collaborative environment and the industrialisation of building in those plots whose characteristics allow for it. The development company will work with Cevasa on this project, a company founded in 1968 and a pioneer in officially protected housing development and management for rentals.

Work on the first flats is expected to start in the first quarter of 2024, for the handover of the first flats to families starting in quarter two of 2025.

For all the affordable housing projects awarded, the company plans for a total investment of 515 million euros.

For Francisco Pérez, CEO of Culmia, ‘the awarding of phase two of the Community of Madrid’s Plan VIVE and the two plots in the Madrid City Council’s affordable housing plan entails for Culmia the consolidation of our line of business for affordable rental housing. We are very proud to continue contributing, from our position, part of the solution to the challenge of access to housing and, now, also in one of the Spanish cities in which it is most difficult to find rentals.’

Background in affordable housing

Culmia was already awarded one plot in phase one of the Plan VIVE of the Community of Madrid, which plans for the construction and later development of over 6600 flats distributed throughout the region under an affordable housing system. Concretely, for 1763 housing units distributed over 12 plots located in the municipalities of Sebastián de los Reyes, Tres Cantos, Alcorcón, Alcalá de Henares and Getafe were awarded to Culmia and are currently under construction.