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Metrovacesa Will Not Participate in Madrid’s Plan Vive and Aedas, Neinor and Vía Célere Have Their Doubts

The property developer controlled by Santander and BBVA explains that rental is not part of its core business; whilst the other developers have not yet decided what to do.

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Spain’s large property developers are beginning to make decisions regarding Madrid’s Plan Vive, the public-private partnership program that provides for the construction of 15,000 affordable rental homes in the Madrid region during the current legislature.

So far, the listed property developer Metrovacesa is the only one that has decided not to participate in the project. The company controlled by Santander and BBVA has pointed out that rental is not part of its core business and that it will continue to focus on the business of residential development, according to Okdiario.

Read the full article in Spanish.

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