THE ICF FUNDS LLOGUERALIA’S €11M PROJECT FOR THE CONSTRUCTION, MANAGEMENT, AND MAINTENANCE OF 110 AFFORDABLE RENTAL HOMES IN CALAFELL

January, 2025

The Institut Català de Finances (ICF) has granted an €11 million loan to Llogueralia, a company within our group dedicated to managing affordable rental housing, to finance the construction, management, and maintenance of 110 officially protected affordable rental homes in Calafell.

Grupo Rubau was awarded the public tender from the Calafell City Council for the establishment of a surface right over 5,000 m² to develop 110 affordable rental homes at the beginning of 2023. Construction began immediately and is expected to be completed in 2026. The total project investment amounts to €14.6 million and involves obtaining a surface right over municipally owned land, assuming responsibility for investment, maintenance, and repairs for a period of 75 years. After this period, the homes will revert to the City Council.

The development consists of two buildings, each containing 55 homes with parking spaces. Of the 110 homes, 72 have two bedrooms and 56 m² of usable space, while the remaining units have three bedrooms, ranging between 73 and 80 m² of usable space. The buildings will have an A-rated energy efficiency certificate and will feature photovoltaic installations to enhance energy efficiency and reduce residents’ electricity costs. One of the advantages of the Rubau model is the speed of construction—between 17 and 18 months—achieved through the use of high-quality architectural and construction elements. The project is located between Priorat and Jaume Pallarès streets, midway between the town center and the beach.

Those interested in applying for these homes must register with the housing registry of the Generalitat de Catalunya and the City Council of Calafell or the Baix Penedès region. The City Council will review applications to determine eligibility through a public selection process, prioritizing registered residents. Rental prices for these homes are below market rates, as they are regulated under Catalonia’s officially protected housing (VPO) framework.

Calafell’s mayor, Ramón Ferrer, described the project as historic, as no public housing has been built in the municipality since 1982. According to municipal sources, “many people will finally be able to access dignified housing with affordable rent suited to their financial situation. These include families with children, single individuals, single-parent families, elderly people, young people, and couples seeking independence… this is a top-tier social policy initiative.”

Additionally, our business group is developing another similar project for the promotion, construction, and management of 132 affordable rental homes in Reus. Both projects exemplify Grupo Rubau’s strategy of diversifying its business areas in alignment with its strong commitment to the 2030 Agenda—this time, combining efforts to tackle the shortage of affordable housing in our cities.