COFIDES has granted an €11 million loan to ALAS Vivienda Asequible en Alquiler, S.A. through the Fondo de Impacto Social (FIS) to facilitate access to affordable housing for households with lower economic capacity.
The FIS financing will be used for the acquisition and operation of around 650 homes across nine buildings in Madrid and Barcelona, intended for affordable rental under criteria regulated by the public administration.
1,600 PEOPLE WILL BE ABLE TO ACCESS AFFORDABLE HOUSING
The project is expected to benefit approximately 1,600 people, thereby improving access to decent and stable housing in a context marked by insufficient supply in the face of growing demand, particularly among young people, vulnerable families, and other groups at risk of exclusion.
The transaction also provides for at least 200 homes to be allocated to beneficiaries with incomes equal to or below three times the IPREM, directly contributing to facilitating access to housing under affordable conditions for low-income families.
The model promoted by ALAS fosters a long-term approach based on public-private collaboration, through the use of public land under a concession regime and the professional management of the housing stock, ensuring residential stability and prices below market levels.
The project falls within the Línea de Vivienda de Impacto Social del FIS, created to respond to one of Spain’s main structural challenges: access to affordable housing. With this new transaction, around €27 million from the Fondo de Impacto Social will have been allocated through five operations financing projects focused on facilitating access to decent housing in Spain.
The transaction was formalized at the Ministerio de Inclusión, Seguridad Social y Migraciones, at an event chaired by the secretaria general de Inclusión, Elena Rodríguez, who highlighted the importance of public-private collaboration in promoting social and affordable housing stock: “It is one of the priorities of the Government of Spain, and the FIS reinforces the Plan Estatal by focusing on the most vulnerable groups.”
The presidenta y consejera delegada of COFIDES, Ángela Pérez, stated that “the Fondo de Impacto Social acts as a catalyst to channel investment into social housing projects,” and emphasized that “ALAS’s innovative model makes it possible to mobilize private capital, consolidate scalable models, and strengthen, over the long term, a housing stock aimed at lower-income households, managed professionally in Spain.”
ALAS VA socia operativa Alejandra Mora said of the agreement: “The additionality of the FIS validates our long-term model for the provision, management, and preservation of affordable housing from an impact investment perspective. We apply the same discipline to financial returns as we do to social returns, supported by governance that combines strategic purpose with operational rigor. This transaction consolidates us as a scalable and distinctive platform, ready to converge with European best practices.”
ABOUT THE FONDO DE IMPACTO SOCIAL
The FIS is a fund created by the Government through the adenda del Plan de Recuperación, Transformación y Resiliencia (PRTR) and is financed with resources from the NextGenerationEU instrument. Attached to the Ministerio de Inclusión, Seguridad Social y Migraciones, it is a public financial instrument designed to strengthen Spain’s impact ecosystem by supporting investment projects carried out by companies and other entities in Spain that generate positive and measurable social and/or environmental impact.
The fund has an allocation of €400 million and provides financial support to projects that are financially sustainable and help address insufficiently served social and environmental challenges, while also promoting the mobilization of additional private resources.
ABOUT COFIDES
COFIDES is a state-owned trading company that manages State financial funds, as well as its own resources and those of third-party institutions, with various objectives: the internationalization of the Spanish economy, the attraction of foreign investment to strategic sectors in Spain, the promotion of the impact economy in Spain, and the contribution to the development of the countries in which it invests. In addition to the State, which holds a majority position, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF-Banco de Desarrollo de América Latina.
