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Title: Sareb Launches “Viena” Plan: Affordable Rental Housing Construction

La Sareb lanza el plan “Viena”: construcción de viviendas de alquiler asequible

The Society for the Management of Assets Arising from the Bank Restructuring (Sareb) is taking the first step to fulfill the promise of the Prime Minister, Pedro Sánchez, to mobilize up to 50,000 homes from the public entity for affordable rentals. The initiative, known as the “Viena project,” aims to offer rental options to the middle and working classes who face an inflated real estate market.

The plan involves the tender of land to build the first 3,500 apartments in an initial phase that will be approved in the coming days. These lands are part of Sareb’s assets and are distributed in different regions of Spain. The entity will lease the land for 80 years, and the builders or developers who are awarded the contracts will be able to collect rent from tenants during that period.

Sareb has identified the existence of demand for affordable rentals in the areas where the tendered lands are located. In collaboration with the consulting firm PwC, lands have been selected that will allow the construction of homes with prices below the current market rates, taking into account the population demographics and rental costs.

This project has generated significant interest and investment in the real estate sector. It is estimated that the first package of tenders could mobilize up to 420 million euros. Additionally, the financing of the construction of these affordable rental homes will involve the participation of the European Investment Bank (EIB) through the resilience fund for autonomous communities.

With the “Viena” plan, Sareb aims to address the need for affordable housing and provide rental options at a regulated price for those facing an inaccessible real estate market.

Frequently Asked Questions (FAQs) about the Viena project by Sareb:

1. What is the Viena project?
The Viena project is an initiative by the Society for the Management of Assets Arising from the Bank Restructuring (Sareb) to offer affordable rental housing to the middle and working classes.

2. How will the project be carried out?
Sareb will tender lands for the construction of the first 3,500 apartments in an initial phase. These lands are part of the entity’s assets and are distributed in different regions of Spain. The builders or developers who are awarded the contracts will be able to collect rent from tenants for 80 years.

3. In which areas will these homes be located?
Sareb has identified the existence of demand for affordable rentals in the areas where the tendered lands are located. These lands have been selected in collaboration with the consulting firm PwC, taking into account the population demographics and rental costs.

4. What is the objective of the Viena project?
The main objective of the Viena project is to meet the need for affordable housing and provide rental options at a regulated price for those who face an inflated real estate market.

5. What is the role of the European Investment Bank (EIB) in the project?
The EIB will participate in financing the construction of these affordable rental homes through the resilience fund for autonomous communities.

Related Links:
– Sareb
– PwC
– European Investment Bank (EIB)

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