ICO finances the construction of 156 affordable rental homes in Guadalajara, developed by Hercesa

10 marzo 2025

  • ICO will provide up to 17 million euros to the developer Hercesa
  • This is the first operation carried out by the ICO to finance an industrialised construction development.
  • The financed housing will be built on the basis of environmental design and energy efficiency criteria.

The ICO has granted a loan of up to 17 million euros to High Innovation Arrendamiento de Viviendas, S.L.U., belonging to the developer Hercesafor the construction of two developments of a total of 156 affordable rented subsidised housing units in Guadalajara, with their corresponding storage rooms, 168 parking spaces and 2 commercial premises.

The land on which the developments will be built was awarded by Guadalajara City Council to this developer, within the framework of the Recovery, Transformation and Resilience Plan, European funds NextGenerationEU, on the basis of the agreement signed at the time between MITMA, the Autonomous Community of Castile La Mancha and the aforementioned City Council.

 The award was made by means of a transfer of the right of surface development of the plots of land for a period of 75 years for the construction of a residential complex of social housing for rent at an affordable price.

This social project aims to respond to the shortage of affordable rental housing in Castile-La Mancha. The rental price will be significantly lower than the free market in Guadalajara. According to the developer's estimates, the cost per square metre will be 33% below the average price of similar properties. 

Furthermore, these are sustainable dwellings, which are being built according to energy efficiency, environmental design and industrialised construction criteria. This is why the financed projects will make quality housing possible for those in need of an affordable rental alternative. 
The construction will be carried out by Hercesa Obras y Proyectos S.L, part of Hercesa. The company has more than 50 years’ experience in the construction and management of housing developments, both for the free market and subsidised housing, having developed and delivered 30,000 homes in residential projects located in Spain and other countries. Based in Guadalajara, Hercesa consolidates with these two projects its commitment to the sustainable growth of the city and the quality of life of its citizens.

Affordable housing financing is a priority in ICO's strategy. The Institute has extensive experience in financing the development of public or subsidised rental housing under several different housing plans. 

This area of action has been boosted through the management of the ICO Housing Facility with the European #NextGenerationEU funds through the Government's Recovery, Transformation and Resilience Plan, endowed with 4 billion euros to increase the stock of social or affordable rental housing, as well as to improve the existing stock of social housing.