Patrizia and Urbania to deliver €130m in sustainable and affordable housing

Global investment manager Patrizia and Spanish real estate developer Urbania have formed a joint venture to develop over €130 mln worth of sustainable and affordable housing in major Spanish metropolitan areas.

Patrizia-Urbania JV

Initially, Sustainable Communities Spain (SC Spain) will build around 320 social housing units near Alicante, utilizing public-private partnerships, long-term land leases, and government-backed financing.
Construction begins soon, with occupancy expected in summer 2026.
The joint venture will also develop additional energy-efficient, affordable rental units in other well-connected Spanish urban areas, addressing the country's critical housing shortage. Public housing amounts to only 2.5% of total stock, compared with an average of 9% in the EU.
This expands Patrizia's Sustainable Communities platform, focused on tackling European real estate's social and environmental challenges.
Marleen Bekkers, fund manager of Patrizia Sustainable Communities, commented: “This joint venture with Urbania marks a strategic expansion of our impact investment strategy into Spain, which has a shortage of 500,000 homes, concentrated in metropolitan areas, according to the Bank of Spain. 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.”
Jeffrey Sújar, managing partner of Urbania Living, added: “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.”
SC Spain will prioritize building near transportation and jobs, while energy efficiency will be central to new construction, meeting modern environmental standards. The joint venture plans to hold assets long-term, eventually selling individually or as portfolios, while maintaining its social and environmental impact.