Sareb agrees to transfer 300 additional homes to the Generalitat as affordable housing for rent

Sareb and the Catalan Government (Generalitat de Cataluña) have signed an agreement to temporarily transfer 300 homes to be used as affordable housing for rent. The agreement further extends the relationship between the two parties, almost one year after the first assignment of 600 homes. The assets included in this lot will be transferred over the coming three months, and will be managed by the Generalitat’s Land and Environment Department (Departament de Territori i Sostenibilitat) over a five year period.

In line with the previous agreement, the regional government will select the tenants and will sign affordable housing lease agreements with them, starting from 150 euros. In exchange for the assignment, Sareb will receive compensation in order to cover service charges, insurance, rates and taxes linked to the properties. The Generalitat will be in charge of the management and administrative costs of the apartments.

The Executive Chairman of Sareb, Jaime Echegoyen, believes that the agreement “strengthens our commitment to Society, without deviating from our divestment mandate appointed to us by Brussels”. Sareb has temporarily transferred more than 1,030 homes to Aragón, Catalonia and Galicia of the total portfolio of 2,000 properties that were put at the disposal of the Autonomous Communities in October 2013. The company is currently in advanced negotiations with another two Autonomous Communities in order to continue to promote social housing programmes.