30 January 2019 – Eje Prime
The Administration is looking for a private property developer. The Metropolitán Area of Barcelona (AMB) has opened a process to choose a partner for the public company Habitatge Metròpolis Barcelona, which is planning to build social housing in the city and its metropolitan area.
The entry of a new shareholder will be carried out through a capital increase whereby €12 million will be contributed, according to Expansión. Cevasa, Visoren, Neinor and Sogeviso are some of the interested companies. Meanwhile, the company’s existing shareholders will subscribe another €12 million capital increase in equal parts.
The bidding process will be open for two months. The objective is to raise capital, but also to increase awareness about the development and the management capacity of the stock of rental homes.
The objective involves constructing a stock of social housing properties comprising 4,500 units over the next ten years. The AMB will contribute two estates in Sant Boi de Llobregat and Montgat, and the Town Hall of Barcelona will contribute €6 million.
Original story: Eje Prime
Translation: Carmel Drake