In a bold move aimed at addressing Spain’s pressing housing crisis, Alas is seeking investors to fuel the growth of affordable housing vehicles that promise a competitive return of 6.7%. This initiative comes on the heels of the successful launch of two socially-focused investment vehicles with a combined capital of €160 million, aimed at producing affordable rental housing.
A Third Model for Housing Production
Alas is pioneering a unique approach to housing production that seeks to bridge the gap between public initiatives focused on social welfare and private investment models that prioritize high returns. This innovative framework, known as the Sbic (Benefit or Common Interest Companies), is designed to create a sustainable solution that meets the needs of both investors and the community.
The Sbic model is already well-established in other markets but is making its debut in Spain as a potential remedy to the challenges faced by the housing sector. By fostering collaboration between public and private entities, this approach aims to create a more balanced and effective housing strategy.
A Legacy of Social Responsibility
Alas has a history of commitment to social causes, having launched non-profit foundations in 2004 and 2008 with the goal of providing housing for those in need. Through these initiatives, the company successfully generated 700 homes, with an additional 1,000 currently under construction and slated for completion next year. However, the increasing demand for affordable housing has prompted Alas to seek out new strategies to expand its impact.
Combining Business and Social Goals
The new model of housing production introduced by Alas aims to blend the best elements of both business and social initiatives. By offering attractive returns for investors while fulfilling a critical social function, the company is positioning itself as a key player in the affordable housing landscape. This dual focus not only addresses the urgent need for housing but also ensures that investors can achieve their financial goals.
As Spain grapples with a growing housing crisis, Alas is stepping up with innovative solutions that appeal to both investors and the community. With the launch of affordable housing vehicles offering a 6.7% return, the company is set to make a significant impact on the market. By embracing a model that balances profitability with social responsibility, Alas is paving the way for a more inclusive approach to housing production in Spain. Investors looking to make a difference while achieving solid returns now have an exciting opportunity to join this transformative initiative.
