Avalon Properties, together with its partners Sanjose Constructora and Aedas Homes, has completed the first three affordable housing developments under the Madrid Regional Government's VIVE Plan. These developments comprise more than 400 homes available for rent at regulated rents, located in Torrejón de Ardoz and Alcorcón.
Aedas Homes, acting as project manager through its Real Estate Services line, has completed the works on these developments on schedule, including two in Alcorcón with 140 homes each and one in Torrejón de Ardoz with 137 homes. The properties are BREEAM certified for sustainability and offer between one and three bedrooms, as well as a garage, storage room and communal areas including a swimming pool, gym, coworking space and children's play area.
The first tenants will move into these homes in November, with rents starting from 523 euros in Alcorcón and 546 euros in Torrejón de Ardoz, prices that represent a 30% reduction compared to the market average.
David Botín, General Manager of Real Estate Services at Aedas Homes, points out that the company has been anticipating market trends and needs since 2021, thus helping to facilitate access to housing, especially for young people and families. In addition, Aedas Homes has established itself as a key player in the development of affordable housing in Spain, with a stake in more than 4,500 units under the Plan VIVE, a public-private partnership project.
Following these first deliveries, Avalon Properties, Sanjose Constructora and Aedas Homes will continue their work on Plan VIVE I, with the delivery of a project in Valdebebas, Madrid, in December (166 homes), followed by 19 additional residential developments totalling 2,999 homes by 2025. In addition, Plan VIVE III will see the completion of a further 944 properties by June 2026.
