Company name
Vinte Viviendas Integrales S.A.P.I. de C.V. and its subsidiaries (“VINTE”)
Project number
ME3966A-02
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Mexico
Sector
Social Infrastructure
Status
In implementation
Disclosed date
05/24/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/02/2013
Approval date
07/09/2013
Signed date
09/12/2013
Sponsoring entity
Sergio Leal Aguirre, Carlos Cadena Ortiz de Montellano, René Jaime Mungarro, Antonio Zúñiga Hernández, José Soto Montoya, and Domingo Alberto Valdés Díaz
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 4,135,350
Financing amount
USD $ 4,135,350
Currency
MXN
Project scope and objective
With this equity investment denominated in Mexican pesos, the IIC will support VINTE by shoring up its capital structure to facilitate the company’s expected growth in the coming years. It is anticipated that the proceeds of the investment will be used to purchase land for the construction of housing developments in central Mexico, including the states of México, Querétaro, and Hidalgo, as well as Quintana Roo.
VINTE develops, promotes, designs, builds, and sells social- and popular-social-interest housing to middle- and middle-upper-income families in a number of Mexican states.
VINTE’s subsidiaries are: (i) Promotora de Viviendas Integrales S.A. de C.V., which purchases and develops land for housing developments and sells housing units; (ii) Urbanizaciones Integrales Del Centro S.A. de C.V., which specializes in purchasing and developing land for housing developments, and selling housing units; (iii) Vinte Administración, Diseño y Consultoría S.A. de C.V., a housing property management and marketing company; (iv) Edificaciones e Ingeniería del Centro S.A. de C.V., which carries out the construction of VINTE housing developments and housing units; (v) Conectividad para el Hábitat S.A. de C.V., which provides all types of technology services to VINTE and its customers, and also markets technology services to the families residing in the company’s housing developments; and (vi) Comercializadora de Equipamientos y Mobiliario para la Vivienda S.A. de C.V., which sells household furnishings, major/minor household appliances, and accessories.
With support from its subsidiaries, VINTE has to date built 14,290 dwellings in its housing developments under its “G7 Hábitat” concept. The company has also won six national housing awards and signed strategic agreements with a number of leading technology companies to promote the use of technology in social-interest housing.
In October 2009, the company received Mexico’s National Housing Award (2008) for “best project implementation,” as well as a special award in the “sustainable housing development” category. In October 2010, VINTE once again received the National Housing Award (2009) in the “sustainable housing development” category. In June 2012, VINTE won the G20 Challenge on Inclusive Business Innovation and was nominated for the Financial Times/International Finance Corporation’s Sustainable Investment of the Year award.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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