ALAS Vivienda Asequible has started its activity with the acquisition of 1,442 homes for affordable rent in Madrid and Catalonia. These homes are distributed in 16 buildings, most of which are at an advanced stage of development, and will provide a housing solution for more than 3,600 people.
The company has been set up as the first Public Benefit and Common Interest Company (SBIC) in the real estate sector in Spain. This legal structure, recently introduced in the country, implies a limited profit model and the reinvestment of part of the profits in the fulfilment of social and environmental objectives, as well as being subject to specific control and transparency mechanisms.
"We want to change the way housing is understood in our country in order to promote and manage an accessible, sustainable and quality rental housing stock that is stable and sustainable over time. We are an innovative solution that aims to promote in Spain what is already being done in other European countries," said Alejandra Mora, founding partner of ALAS.
The company's approach is based on a triple return: social, economic and environmental. On the social side, it is committed to guaranteeing affordability over time as a mechanism to prevent vulnerability and residential exclusion. From an economic perspective, its investment policy seeks a moderate and recurring return, linked to a positive social impact. Environmentally, the buildings will meet high standards of sustainability and energy efficiency.
The project has been promoted by professionals in the field of investment with a social purpose and by non-profit organisations such as the Nou Lloc Foundation and the Salas Foundation. According to its promoters, ALAS aims to become a bridge between the structural needs for affordable housing and public and private capital for social impact, in collaboration with public administrations and limited-profit developers.
In addition to real estate management, the company will set up ALAS Communities, a neighbourhood support model that will offer support in procedures and foster social cohesion in residential environments.
"The acquisition of these 16 buildings is just the beginning. Our aim is to demonstrate that it is possible to invest responsibly, generate moderate returns and at the same time contribute to a fairer and more cohesive society," added Mora.
ALAS expects to have 2,500 homes in operation between 2028 and 2030, all of which will be affordable rented and managed under a collective welfare-oriented model. With this approach, the company seeks to respond to one of the main challenges of the Spanish residential market: guaranteeing access to stable, affordable and quality housing.