Culmia will build 757 homes as part of Madrid City Council's Suma Vivienda Plan, thanks to a total investment of 116 million euros. Work will begin in the first quarter of 2026 and the first families are expected to move in before the summer of 2028. The developments will be located in the Los Berrocales and Los Ahijones urban developments.
The developer has been awarded lots three, four and five. Lots three and four are located in Los Berrocales and consist of 223 homes each, while lot five, with 311 homes, will be developed in Los Ahijones. For their execution, 34 million euros will be allocated to each of the first two lots and 48 million to the third.
The homes will be built using Avintia's industrialised Ávita system, previously used in more than 3,200 affordable rental housing projects. In addition, all the developments will have a swimming pool, community room, bicycle parking area and commercial premises. All of them will receive BREEAM sustainability certification in building.
Francisco Pérez, CEO of Culmia, has declared that ‘these new 757 homes reaffirm us as a relevant player in the affordable housing segment at a national level, building more than 5,000 homes throughout the country, and where public-private collaboration is essential to continue advancing’.
The homes will be aimed at Madrid citizens with incomes of up to 5.5 times the IPREM, in line with Madrid City Council's objectives to expand the affordable rental housing stock.
The company has already been awarded a lot in the first phase of the Community of Madrid's VIVE Plan, with 1,763 homes in twelve plots located in San Sebastián de los Reyes, Tres Cantos, Alcorcón, Alcalá de Henares and Getafe. It also led the only lot in the second phase of the VIVE Plan, with 1,137 homes in the municipalities of Boadilla del Monte, Pinto and Colmenar Viejo.
It has also managed two lots of the Madrid City Council's Affordable Rental Plan, with 871 homes in seven developments in the districts of Hortaleza, Usera, Arganzuela, Fuencarral-El Pardo, Carabanchel, San Blas and Villaverde.
Outside the Madrid region, Culmia has also been awarded two projects of the Plan Vive of the Generalitat Valenciana, with more than 220 homes, and another 402 homes in Esplugues de Llobregat, developed on behalf of the Incasòl of the Generalitat de Catalunya.
