MoraBanc is the developer of a private project that will provide Andorra with a new socio-healthcare residence. The initiative responds to a social need in the country, which requires an increase in places for older people given the growth of this group.

The residence will be built in Encamp with 100% private investment, with MoraBanc participating as both developer and shareholder. The initial planned capacity is 120 residents, and the facility is expected to open in 2028. In addition to residential care, the complex will include a day centre.

An application has been submitted to the Encamp Parish Council to activate the project, and initial contacts have already been made with the Ministry of Social Affairs of the Government of Andorra to conclude an agreement that will allow contracted (state-subsidised) places to be offered and establish a collaboration that strengthens public resources in health and well-being.

In terms of care provision, operations at the Residencial Parc de l’Ossa residence will be managed by an Andorran company led by an experienced sector operator that currently manages three care homes in Girona.

A social project born from private co-investment

The future residence will be made possible through an innovative private co-investment model.

Gerard Albà, MoraBanc’s Investment Director, highlights that the project is “very exciting because it is a financial initiative that also creates value for Andorra by addressing a clear need. This element of social responsibility has been highly appreciated by both the bank and the investors, who are backing a project of national importance.”