The GED Andalucía Urbano II Fund, managed by GED Infrastructure SGEIC, S.A. with the support of the Andalusian Government and in coordination with the European Investment Bank (EIB), aims to finance sustainable urban development projects in the Andalusian region. With a focus on promoting economic growth, job creation, and improving the quality of life in Andalusian urban areas, the management team of GED Andalucía Urbano II has demonstrated extraordinary commitment and extensive experience in managing this type of investment vehicle.
Over a period of four and a half years, the team has analyzed over 34 projects and has invested in 10 of them through 22 equity, mezzanine loan, and long-term debt operations. The team’s previous 13-year experience in managing such vehicles, accumulated through the predecessor funds GED JESSICA Andalucía and GED JESSICA FIDAE, has been crucial to the success of the GED Andalucía Urbano II Fund.
The projects that make up its investment portfolio include Enjoy Wellness Jerez, Puerto Seco de Antequera, Hotel Convento de San Agustín, Residencia Universitaria Status El Carmen, Lamiya Wellness, Enjoy San Fernando, Hotel B&B Bormujos, Enjoy Wellness Málaga, Fundación Hipania Música, and Hospital Jaén Salud. Three of these projects are already operational, with Puerto Seco de Antequera being one of the most notable completed projects due to its strategic importance as a logistics and business hub in Andalusia and its significant contribution in terms of job creation.
Although all the projects financed by the Fund are carried out by private end beneficiaries, 78% of them come from public initiatives promoted by municipalities or the Andalusian Government itself.
The investment made by the Fund has mobilized funds from private operators totaling €158.6 million, equivalent to an investment multiplier of 2 times the money received from the Andalusian Government.
The Fund will contribute to the regeneration of over 58,267 m2 of degraded urban spaces and the development of almost 450,000 m2 of new urban land, with a focus on diversification both in sectors – sports centers, tourism, historical and cultural heritage, education, logistics, business, and hospitals – and in demographic terms – 50% of its investment has been made in towns with fewer than 100,000 inhabitants, favoring greater equity in the distribution of the positive impact generated by the projects.
In terms of employment, it is expected that the projects as a whole will generate 1,800 jobs during the construction phase and an additional 400 jobs during the operation phase. Two recent transactions closed at the end of 2023 are particularly noteworthy: the €9.5 million investment in Gestión Hospitalaria Jaén, S.L. for the construction of a new private hospital center in Jaén (50 rooms, 28 consultation rooms, surgical area, ICUs, and delivery rooms, creating 100 direct jobs and 300 indirect ones) and, secondly, the credit operation alongside Fiare Banca Ética to Fundación Hispania Música for a joint value of €1.5 million for the construction and operation of its headquarters in Málaga, which will also serve as a music school.
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