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Madrid Transfers €20.8 Million to the EMVS to Buy 120 Homes from Sareb and to Acquire Land

This amount will be allocated to the purchase of two residential portfolios from Sareb and the Social Security and the acquisition of land in the district of Villa de Vallecas to build a new development.

Promocion EMVS en Vallecas 544x500 1 1
Development owned by the Municipal Housing and Land Company (EMVS) in Vallecas.

Yesterday, the Governing Board of Madrid City Council authorised the transfer of 20.8 million euros to the Municipal Housing and Land Company (EMVS) to finance its increase in the stock of social housing for rent in the capital, as reported by the municipal spokesperson, Inmaculada Sanz, at a press conference following the Governing Board’s meeting.

This amount will be used for three specific operations: two residential purchases from the Company for the Management of Assets Proceeding from the Bank Restructuring (Sareb) and the Social Security and a third acquisition of land in the district of Villa de Vallecas to build a new development.

Read the full article in Spanish.

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