The Residencial Ossa – Senior Living care home, promoted by MoraBanc, took a decisive step forward today with the ceremony marking the laying of its foundation stone, officially launching the construction of a facility aimed at expanding care services for older people in Andorra. The event was attended by the Head of Government, Xavier Espot; the Mayor (Cònsol Major) of Encamp, Laura Mas; and MoraBanc’s Chief Executive Officer, Lluís Alsina, among other institutional representatives. Also present were the project’s investment partners, representatives of the residence operator, the architectural team and the construction company responsible for carrying out the works.

Located in the centre of Encamp, the future residence has been conceived to address the growing need for long-term care facilities in the country. The project is being developed through a fully private investment in which MoraBanc participates as both promoter and shareholder. The residence is planned to provide an initial capacity of 120 assisted-living places, together with a day-care centre offering 30 places, and is expected to become operational during 2028. The Government has reached an agreement with the residence to reserve between 45% and 55% of its places for public management. For its part, the Encamp Comú (local authority) has approved a 90% reduction in the construction tax provided for under the Tax Ordinance, in exchange for hosting this social infrastructure within the parish and granting priority access to private places—both in the residence and in the day-care centre—to residents of Encamp, alongside other joint social initiatives.

Lluís Alsina, Chief Executive Officer of MoraBanc, the company promoting the residence, highlighted that “this is a distinctive project born from a clear commitment to social impact. Through an innovative and pioneering approach, we are demonstrating that private investments can be both financially sustainable and socially valuable, in this case for the people of Andorra. We are very proud to lead the way with an initiative that responds to a current social need and will become a valuable asset in caring for older people.”

For his part, the Head of Government, Xavier Espot, reiterated the Executive’s commitment to older people, stating that “it is in this context that the agreement signed last March between the Ministry of Social Affairs and the residential company Parc de l’Ossa Pirineus SL takes on particular significance. The agreement establishes the foundations for a public-private partnership under which the Government is expected to reserve up to 55% of the places in this facility. This project demonstrates that public-private collaboration can also play a decisive role in building a stronger, more modern and more inclusive social model.”

Laura Mas, Mayor (Cònsol Major) of Encamp, stated that “the foundation stone we are laying today brings us one step closer to making this objective a reality. Thanks to the agreement signed with MoraBanc, older residents of Encamp will have priority access to the non-subsidised places, while ensuring transparency and equal opportunities in the allocation process. This project will enable many people to remain close to their homes, families and communities, thereby strengthening social cohesion and local roots within the parish.”

Prior to the official ceremony, MoraBanc held an information session with the investors participating in the project, during which an update was provided on the progress made since the initiative was first presented, and the main milestones achieved over recent months were shared.