Vinte Green PCG

active

Vinte Viviendas Integrales S.A.B. de C.V. (Vinte or “the company”) is a leading real estate developer in Mexico focused on urban development and home building (vinte.com.mx). IFC is considering A loan and partial credit guarantee (PCG) of up to MXN 1,150 million (~US$ 58 million) to finance the acquisition of Servicios Corporativos Javer S.A.B. de C.V. (“Javer”). Vinte is an existing IFC portfolio client and based on supervision to date its environmental and social (E&S) performance has been satisfactory.  Javer is also an urban development business that develops greenfield residential areas generally located on the outskirts of cities, in plots to be integrated into the urban areas. Javer’s development process includes selecting and buying land plots, building houses, and basic communal infrastructure (water, sewer, gas, and electric systems, transport infrastructure, sidewalks, and recreation zones.  Javer's scope of work involves developing water sources, such as wells, and water treatment and wastewater treatment plants in projects where public water and sewer services are not available. If water and wastewater treatment plants are built, their management, operation, and maintenance are transferred to the utility company. Javer has an in-house design and engineering team that develops and supervises projects, including residential buildings. The construction of urban development and housing projects is performed by construction contractors selected through a tender process.