Madrid, May 21 – The Madrid City Council has been honored with the ASPRIMA-SIMA Award for Best Affordable Housing Initiative for its Iberia Loreto 1 development. This recognition, granted by the Association of Real Estate Developers of Madrid (ASPRIMA) and the Madrid International Real Estate Exhibition (SIMA), highlights the project’s innovative approach to public housing.
EMVS Madrid’s Commitment to Quality and Affordability
Álvaro González, Delegate for Housing Policies and President of EMVS Madrid, accepted the award, expressing his satisfaction with the municipal company’s continued recognition. “This new EMVS Madrid development demonstrates that public housing is synonymous with quality, avant-garde design, and innovation,” stated González. He emphasized the project’s role in promoting sustainable and high-quality public housing for all Madrid residents.
Iberia Loreto 1: A Landmark in Affordable Housing
The award-winning Iberia Loreto 1 development is EMVS Madrid’s first building constructed using industrialized wood systems. Completed in just 17 months, the project offers 52 homes, including four adapted for people with reduced mobility, 16 two-bedroom units, and 36 three-bedroom units. Additionally, it features 52 storage rooms, 78 parking spaces for cars, and 52 for bicycles.
Significantly, Iberia Loreto 1 is the first public housing development by the Madrid City Council specifically designed for middle-income residents. The application process, currently open via emvsmadrid.es, targets Madrid residents up to 50 years old and families with minor children, whose incomes fall between 3.5 and 5.5 times the IPREM (Public Multiple Effect Income Indicator). For example, a couple with two children could have a maximum gross annual income of approximately 68,000 euros to qualify.
Applicants must also be registered in the municipality of Madrid for a minimum of five uninterrupted years or eight years within the last ten, and not own another property in Spain.
The Prestige of the ASPRIMA-SIMA Awards
The ASPRIMA-SIMA Awards are a benchmark for recognizing excellence in the real estate sector. The 2026 edition featured 14 categories, celebrating outstanding achievements in residential and non-residential development, urban regeneration, urban planning, ESG progress, real estate startups, and flex living initiatives.
The recognition of Iberia Loreto 1 underscores Madrid City Council’s dedication to addressing housing challenges through innovative and sustainable solutions, reinforcing its commitment to providing accessible and quality homes for its citizens.
