Espadas signs loans for 89 million with the EIB and the ICO for 552 new VPOs, remodel 10 and buy 150 floors

Espadas signs loans for 89 million with the EIB and the ICO for 552 new VPOs, remodel 10 and buy 150 floors

Group inn after the signing of the loans

Espadas has signed these loans with the EIB Vice President, Emma Navarro, and ICO President Jose Carlos Garcia de Quevedo, explaining that thanks to these loans, financing is guaranteed for virtually “one third” of the municipal housing plan approved by the full of the City of Seville in January 2019, to incorporate about 3,000 public homes within five years.

Given that the municipal registry of housing claimants is close to 12,000 people, the mayor has admitted that the aforementioned plan “does not solve” as such the housing problem of the Hispanic society, although it does “attend” a good part of the registered persons in that record.

In that sense, 40 million euros financed by the EIB and another 40 million contributed by the ICO will be used to pay for eight new housing developments in Sol, San Juan de la Salle, Vereda del Poco Aceite, Kansas City, Tejares and Leon XIII, as well as the Hacienda El Rosario and Torreblanca, and cover the rehabilitation of ten municipal homes located on Garcia Ramos and Juan de Onate streets.

All of these homes will be destined for social rent, for groups with low incomes and especially vulnerable groups, such as single-parent households and victims of gender-based violence, among others, since the 552 VPO of new plant will have an average of about 70 square meters useful and can be rented for an average price of 290 euros, according to initial calculations of Emvisesa, whose technicians are already working on the drafting of the corresponding projects.

The idea, as Emvisesa manager Felipe Castro has added, is to tender the works of each of the promotions before the end of this year.


It also mediates another additional loan of the ICO for an amount of 9.2 million euros, for the acquisition of 150 homes within the Emvisesa private and empty real estate collection program, with the aim of incorporating them into the public park of apartments for rent and favoring the access to housing for the most disadvantaged groups, with which the whole of the operation involves 712 homes, ten of which already exist and will be restored for social rent.

The vice president of the EIB, Emma Navarro, responsible for the activity of the bank in Spain, said in this regard that social cohesion is one of the main objectives of the EU bank. “” For more than 60 years, the EIB has been working for promote inclusive growth and improve the quality of life of citizens. That is why we are very pleased to sign this agreement, which will facilitate that Andalusian families with lower incomes can access social housing and will allow the integral reconstruction of some neighborhoods of the city, while contributing to the creation of employment in the region, ” has indicated.


For his part, the president of the ICO, Jose Carlos Garcia de Quevedo, has stated that his entity has incorporated “sustainability as a transversal axis of action in its various aspects: environmental, social and governance to promote sustainable economic growth.” “Without a doubt, the participation in the financing of projects such as the one we signed today, which will allow offering the most vulnerable social groups better options for access to housing, constitutes an important step in this line of action,” he said.

Juan Espadas, on his side, said that the signing of these loans has been preceded by “countless technical meetings” in which it has “enormously” weighed that the protected homes to be financed with this financing be “turned over” in social rent and for those of new construction, energy and climate “sustainability” designs have been guaranteed, which has led him to invoke the “new European green pact” and its “inspiring principles”, because these projects “fit” into them.


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