GENIVS awarded 599 affordable homes in Málaga

GENIVS secured its first definitive public tender award in Málaga: 599 social rental homes across Universidad and Cortijo Merino, representing a total investment of €87.4 million. Developed on municipal land under 75-year concession agreements, the homes will remain within the social rental regime throughout the concession period, with rents starting at €7.95 per sqm — approximately 45% below prevailing market levels in the area.

The award represents an important validation of the GENIVS model: combining public land, institutional capital and long-term management to create affordable housing infrastructure at scale. Construction is expected to run from 2027 to 2028, with operations beginning in 2029.

“Málaga validates the GENIVS model in one of Spain’s leading international cities. Our ambition is to demonstrate that affordable housing can become a scalable institutional asset class — combining attractive, infrastructure-like returns with a clear social purpose, and helping address the growing imbalance in Spain’s rental market for younger generations.”