The Official Credit Institute (ICO) has granted us a loan of up to €16.9 million to build 174 subsidised rental housing units. This development will be located in the Madrid municipality of Daganzo de Arriba, where beneficiaries of the project will have access to storage rooms and 184 parking spaces.
The initiative is part of the Community of Madrid’s VIVE Plan and is supported by funding from the European Union’s Next Generation EU programme, within the framework of the Recovery, Transformation and Resilience Plan. Its main objective is to increase the supply of affordable rental housing through a public-private partnership model.
The homes will be built using the industrialised Ávita system, developed by Grupo Avintia. This method shortens construction times by 30% and significantly reduces environmental impact: up to 75% less waste, 20% lower water consumption, a 50% reduction in the use of raw materials and concrete, and reduced noise levels and CO₂ emissions (by 40%). In addition, the system enhances energy efficiency, enabling residents to cut annual utility costs by up to 32%.%.
This socially focused project addresses the growing demand for affordable rental housing in the Community of Madrid. The price of these homes is expected to be around 33% lower than the local market average.
Financing affordable housing is one of ICO’s priorities, and the institute has a long track record of supporting public and subsidised rental housing developments. This commitment has been further strengthened through the management of the ICO Housing Line, which is backed by €4 billion from the European Union’s #NextGenerationEU funds. These resources are aimed both at increasing the supply of social and affordable housing and at improving the existing stock.
