ICO finances the construction of 174 affordable rental homes in Daganzo

01 April 2025

  • The homes will be built using the industrialised construction system, which shortens construction times by around 30%, reduces costs and has a lower environmental impact.

ICO has granted a loan of up to 16.9 million euros to the company AVG CAPITAL MANAGEMENT 10, S.L, which is part of the Avintia Group 16.9 million, for the construction of 174subsidised housing units for rent, with their corresponding storage rooms and 184 parking spaces in Daganzo de Arriba (Madrid).

This new project is part of the VIVE Plan of the Community of Madrid and is subsidised by the European Next Generation EU funds of the Recovery, Transformation and Resilience Plan. The aim is to build affordable rental housing to expand the housing market in the region, using public-private partnership mechanisms.


 

These are homes built using the industrialised avita construction system developed by the Grupo Avintia. This system makes it possible to shorten construction times by 30%, reduce costs and generate a lower environmental impact, as it reduces on-site waste by up to 75%, water consumption by 20%, raw materials and concrete consumption by up to 50%, noise pollution by 50% and CO2 emissions by 40%. 

The advantages in terms of energy efficiency also benefit the residents of these buildings, as this system minimises the annual cost of energy consumption by up to 32%.

This social project financed by ICO aims to respond to the shortage of affordable rental housing in the Community of Madrid. The rental price of new homes will be around 33% lower than the free market in the area. 

Affordable housing financing is a priority in ICO's strategy. The Institute has extensive experience in financing the development of public or subsidised rental housing under several different housing plans.
 
This area of action has been boosted through the management of the ICO Housing Facility with the European #NextGenerationEU funds through the Government's Recovery, Transformation and Resilience Plan, endowed with 4 billion euros to increase the stock of social or affordable rental housing, as well as to improve the existing stock of social housing.