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Sareb Closes its Largest Sale of Public Housing with Madrid City Council

The company chaired by Jaime Echegoyen has sold 108 flats to Madrid City Council in the largest operation closed to date involving the sale of social housing between the company and a public administration.

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The company also wants to work with small town halls.

Madrid City Council, through the Municipal Housing and Land Company (EMVS), has closed two important purchase operations to increase its stock of protected rental housing for the Spanish capital.

The Board of Directors of the public company, which represents all of the political groups of the City Council, has approved the purchase of 108 homes from the Company for the Management of Assets proceeding from the Bank Restructuring (Sareb), as well as another 19 properties from the Social Security. The EMVS will pay 18.2 million euros for these 127 homes.

Read the full article in Spanish.

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