Real assets manager Patrizia has partnered with real estate developer Urbania to develop over €130m worth of affordable housing projects in Spain.
The pair have launched the Sustainable Communities Spain (SC Spain) joint venture to develop assets in major Spanish metropolitan areas, starting with 320 social housing units across five sites near Alicante in the Valencia region.
Construction is expected to begin shortly, with the handover of the first homes planned in the summer of 2026.
Marleen Bekkers, fund manager of Patrizia’s sustainable communities business, said the joint venture with Urbania marks a “strategic expansion” of Patrizia’s impact investment strategy into Spain, which has a shortage of 500,000 homes, concentrated in metropolitan areas, according to the Bank of Spain.
Bekkers added: “The partnership will leverage Urbania’s expertise in sustainable development to deliver energy efficient, well-located homes, while adhering to our rigorous social and environmental impact standards.
“By capitalising on favourable public sector collaboration and EU funding, this initiative demonstrates our commitment to creating long-term value for both investors and underserved communities.”
Jeffrey Sújar, managing partner of Urbania Living, said: “Our partnership with Patrizia sustainable communities represents a critical step toward addressing Spain’s growing need for affordable and sustainable housing. By creating well-connected, energy-efficient homes for low- and middle-income households, we are directly contributing to the transformation of the housing sector, aligning with national and European initiatives to improve access and affordability.
“SC Spain’s approach integrates innovative solutions and public-private collaboration, establishing a new model for the delivery of social housing across key metropolitan areas.”
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