Origin and philosophy
Origin
In Spain, the development of long-term affordable and social rental housing by non-profit or limited-profit organisations, in other words, with profit reinvestment strategies and an intentional social purpose, is severely lacking.
These organisations have seen their capacity to continue building and generating housing diminished. Subsidies and philanthropic capital are no longer enough, and bank debt is expensive, making their projects unfeasible. There is a need to address new structures closer to impact capital investment and capital markets, with a view to implementing long term social action policies and profit reinvestment such as those of these organisations.
At the same time, we have seen that there is a wide range of social impact capital investors with no volume investment options in housing and other small volume developers calling for new financing mechanisms and structures to do what they do, so they can scale their activity to sufficient volumes and, in turn, respond to the structural problem of accessing housing that our country so badly needs.
So, “ALAS” was founded, an innovative solution to finance affordable and social housing, connecting investors-capital with social impact and limited-profit or non-profit organisations, as primary housing suppliers-developers.
Wings between a structural social need and the necessary and appropriate capital to satisfy it.
Philosophy
Three-fold impact
We create long-term value, obtaining a combined financial and social return on investment for the community and our investors alike.
Social Purpose
We work reflexively and strategically to maximise the value of all stakeholders, residents and neighbours, partner suppliers, public administrations and investors. Creating impact for generations to come.
Innovation in financing
We strive to be an innovative tool for financing and long-term preservation of affordable and social rental housing in Spain.
