Six real estate developers have submitted up to nine different bids to the Madrid City Council for the development and management of 13 municipal plots, grouped into three lots, under the Plan Suma Vivienda. This initiative aims to construct over 600 affordable rental homes in Madrid. The deadline for submitting candidacies for the second phase of the tender concluded this Tuesday, February 26, 2026.
Redes and Pecsa Among Interested Construction Companies
According to confirmations by OKDIARIO, construction companies Redes and Pecsa are two of the interested parties vying for the new contract. These companies have already been involved in the first phase of the plan.
The majority of these new apartments, approximately 400, will be built in Los Ahijones, while the remaining homes will be located in Los Berrocales. These figures were confirmed by sources from the Municipal Housing and Land Company (EMVS) of Madrid.
It is estimated that the more than 600 homes in this second phase will provide accommodation for nearly 1,600 Madrid residents and create approximately 9,500 jobs during the construction and operation phases of the rentals.
Almeida’s Plan Suma Vivienda: 2,200 Affordable Homes
Mayor Almeida’s Plan Suma Vivienda aims to construct more than 2,200 affordable rental homes through public-private collaboration. Sources from the EMVS emphasize that this formula “allows for a faster expansion of the municipal public housing supply as the main strategy to reduce rental prices in the capital.”
Under this model, the concessionaire assumes the construction and subsequent management of these affordable rental homes for a period of 70 years, in collaboration with the municipal executive. After this period, the homes become part of the municipal heritage and can continue to be used for rental purposes.
Sources familiar with the matter confirm that the Madrid City Council, under Almeida’s administration, will be able to increase the income threshold for EMVS Madrid, currently set at 3.5 times the IPREM (Public Multiple Effect Income Indicator). This means that all Madrid residents earning up to 5.5 times the IPREM will be eligible for these new homes.
This adjustment will allow public housing to be offered to Madrid residents whose incomes are often insufficient to access the free rental market. As with all EMVS Madrid homes, tenants under this plan will never pay more than 30% of their household income in rent.
First Phase Already Underway with 1,600 Homes
The first phase of the Plan Suma Vivienda is already in progress, with the awarded companies – Redes, Pecsa, and Fundación Salas – having already begun to promote the 27 municipal plots where they will build more than 1,600 affordable rental homes.
Most of these apartments, around 1,000, will be built in Los Berrocales, with the remainder in Los Ahijones. This initial phase of the plan is expected to generate over 24,000 jobs during the construction and operation of the rentals.
The Municipal Housing and Land Company of Madrid currently manages a portfolio of 9,400 public homes for Madrid residents. This figure solidifies Madrid’s position as the leader in public housing for affordable rental in Spain, according to the Observatory of Housing and Land, which is part of the Ministry of Housing and Urban Agenda.
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Source: OKDIARIO, Municipal Housing and Land Company (EMVS) of Madrid
