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Aedas and Culmia Awarded First Plots of Land Under Plan Vive

Of the four auctioned by the Díaz-Ayuso government, Aedas Homes, with Ares Asset Management, received Lot 1 and Lot 2, while Culmia and its partner, the Oaktree fund, received Lot 3.

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The developers Aedas Homes and Culmia have been provisionally awarded the land for the first phase of the Vive Plan by the Community of Madrid.

This is land owned by the regional government, which, through 50-year administrative concessions, is ceded to these developers to develop rental housing and thus improve access to rental housing in Madrid.

In the first phase of the project, the Community presided over by Isabel Díaz-Ayuso has put four lots up for auction, though the last one was abandoned due to a lack of bids. According to the local government, the fourth lot will be upgraded to make it more attractive to developers, given that the abundance of land in Navalcarnero has eliminated interest.

Of the remaining three, two were to go to one company and the other to another. The same developer couldn’t be awarded all three lots. Ares Asset Management and Aedas Homes have been awarded the first and second lots, and Culmia, together with Oaktree, the third.

Read the full article in Spanish

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