PATRIZIA and Urbania have launched a joint venture, Sustainable Communities Spain (SC Spain), focused on delivering an investment program of more than €130 million ($145 million) of sustainable and affordable housing across major metropolitan areas in Spain.
In its initial phase, SC Spain will develop approximately 320 social housing units across five sites around Alicante in the Valencia region, leveraging public-private partnerships under the European Union’s Next Generation recovery program, access to public land on a 75-year leasehold, and government-backed financing. Construction will start soon, and the homes are planned to be handed over to the first families in summer 2026. The joint venture will also develop additional affordable housing assets that focus on energy-efficient, affordable rental units in other well-connected urban areas around Spain.
The joint venture’s investment strategy targets critical challenges in the Spanish housing market, where ac
