The State delegate, Fran González, confirmed the news at the traditional Christmas breakfast with the media and that it represents a new step in the transformation of this area of the city promoted by the Consortium.
The head of the Cádiz Consortium has also explained that the good economic figures for 2023 confirm the effective application of the measures contemplated in the Viability Plan to clean up the Consortium's accounts.
Cadiz, December 20, 2023
The outer polygon of the Cádiz Free Trade Zone will have a student residence next to the Incubazul Base Zone container building. This was confirmed today by the State delegate, Fran González, during the traditional Christmas breakfast held with the media.
The company Residencia Gades SLU, belonging to a group with extensive experience in the main university cities of the south and east, has presented in recent days a purchase reservation for a plot located in UE ZF-08 next to Zona Base, which is addition to that presented a few months ago for a 2-3 star hotel project.
The State delegate, Fran González, has been very satisfied with the news of the implementation of the student residence, which together with the construction of the hotel in the same Execution Unit, “represents an important advance in the transformation of the industrial estate that we are promoting from the Free Trade Zone and shows that collaboration and joint public-private work are essential.”
The person in charge of the Consortium has pointed out that this model “can be extrapolated and an example to follow in other execution units of the outer polygon, as is the case of Navalips. It is important to highlight that both the residence and the hotel complement the services so that the industrial area is a modern and future-oriented area, compatible with the business area that is intended to be created around the container building, the incubator and the entire startup ecosystem. what will be in the Base Zone.”
According to the report presented, the project will generate 149 jobs, 20 will remain permanent for exploitation. The residence, scheduled to open in 2026, will have 250 rooms (353 beds) and basement parking. It will be a building in line with the new model of the Free Zone within the framework of the sustainability criteria that it has imposed in the last 3 years on all its facilities and will have well-kept common areas, a swimming pool, a gym and will be given a high priority of green areas.
It must be remembered that a hotel will be located in that same Execution Unit, the construction of which was awarded by the Free Zone in February to the joint offer presented by VDR Multiva and Ispal Advisor. The new hotel, which will complement the limited supply that exists in the city of this type of establishments that cover stays for professional reasons, will generate around 30 new jobs.
Fran González has also explained the good state of the accounts at the end of 2023, which “offer a very positive balance, largely the result of commercial activity with a 70% increase in the number of lease contracts made, as well as the reduction of the Consortium's debt and the increase in the Working Capital Fund by 27% compared to 2022. All of this allows us more capacity for maneuver and to undertake future investments with greater peace of mind," he stated.
Good economic balance
In fact, the forecast for the end of 2023 presents a very healthy income statement, similar to that of 2022 and 2021, which confirms the effective application of the measures contemplated in the 2020-2025 Viability Plan to clean up the Consortium's accounts. which has already been completed by more than 90% in just two years.
Since 2020, the Cádiz Free Trade Zone has reduced debt by 30% and financial expenses by 50%. In 2023, a reduction in financial expenses (7% compared to 2022) is observed for the fourth consecutive year, despite the strong rise suffered by the Euribor in 2023, thanks to the comprehensive restructuring of the financial debt achieved in 2022 and which It has borne fruit in the current fiscal year 2023 with an accumulated financial saving of 3 million euros. The financial interest savings due to debt restructuring has been 6.4 million euros since 2020.
During fiscal year 2023, the Consortium's debt has continued to be reduced by an amount of 25.7 million euros, 16% compared to 2022, which includes the total cancellation of the REINDUS debt that was maintained with the Treasury Delegation. of 17 million euros.
On the other hand, optimal management has been developed in the collection of old debt, such as the recovery of the 3.5 million euros owed by EPSUVI (Public Land and Housing Company of Puerto Real) to the Consortium for the rights of buildability of Sancho Dávila, materialized last May with the signing of the agreement by which the Consortium has received a series of properties as settlement of said debt.
All these efforts and operations, together with the 2% increase in turnover, have made it possible for the Maneuver Fund planned for 2023 to reach 31 million (an increase of 27% compared to 2022), which means doubling the existing one. in 2020, the first positive year after 15 years with imbalance.
All these good economic figures make it possible for the Consortium to now focus on its investment program, which by 2024 will increase by 12% compared to the previous year.
Fran González has reviewed the activity and projects of the year that now ends with special emphasis on Incubazul, which with the recently held Blue Zone Forum, has proven to be a valuable tool for the promotion and consolidation of startups.
The Blue Economy incubator of the Free Trade Zone has 80 startups in its acceleration program, a third of which are already billing and 31.8% are already working in the minimum viable product (MVP) phase.
