The Official Credit Institute (ICO) has granted a loan of 35.1 million euros to Real Estate ADI, the company that owns two new residential projects in Asturias developed by Avintia Inmobiliaria. In total, both developments amount to 294 homes for affordable rent, located in the municipalities of Gijón and Lugones (Siero).
The operation is part of the ICO Housing Line, endowed with 4,000 million euros and financed with NextGenerationEU European funds, as part of the Spanish Government's Recovery, Transformation and Resilience Plan. This line aims to expand the stock of social housing or affordable housing through public-private partnerships, with a 50% guarantee from the Ministry of Housing and the Urban Agenda.
In Gijón, the developer will develop a set of 250 Build to Rent homes on a 12,737 sqm plot, corresponding to the site of the former Escuela de Peritos. The project, designed by TDB Arquitectos, will be executed using the avita industrialised construction system developed by the Grupo Avintia. This methodology allows, according to the company, to shorten construction times by 30% and reduce environmental impact: 75% less waste, 20% less water consumption, 50% less raw materials and concrete, 50% less noise pollution and 40% less CO₂ emissions. In addition, it is estimated that it could generate energy savings of 32% for users.
The second development, located in Lugones (Siero), includes 44 homes distributed over a surface area of 1,713.82 sqm, designed by SOA Arquitectos.
Both developments are aimed at affordable rentals and aspire to obtain BREEAM Good certification, which evaluates environmental sustainability criteria in the design and execution of buildings. This operation is part of ICO's strategy to finance residential projects linked to affordable housing and new forms of building.