ICF finances the construction of 35 protected rental homes in Sant Cugat with €3.8M
07 October 2025The housing development, promoted by the Sant Cugat del Vallès City Council through the municipal company Promusa, will be located on Benet de Moxó Street and is expected to be completed by June 2026. 26% of the homes will be reserved for young people to facilitate access to housing for those in the emancipation age in the municipality.
The ICF has financed the construction of 35 protected rental homes in Sant Cugat. The public promotional bank of Catalonia has granted a loan of €3.8 million under favourable conditions to the municipal company Promusa to support a new housing development on Benet de Moxó Street, 12–16.
Construction began in April 2025 with the laying of the first stone, and the project is expected to be completed by June 2026. The building will feature 25 two-bedroom homes (58 m² interior and 11 m² of exterior space), and 10 three-bedroom homes (74 m² interior and 30 m² of exterior space). In addition, there will be an underground parking facility with 35 spaces and 16 storage units.
The homes will be permanently classified as protected housing, and 26% of them will be allocated to young people, aiming to facilitate access to housing for those in the emancipation age and help retain population within the municipality.
"As a public promotional bank, our mission is to make our financing available for the country’s development. That’s why we stand alongside municipalities, offering long-term financing with favourable conditions to support the growth of the protected housing stock in Catalonia. With the new Promusa development, we will make it possible for 35 families to access affordable rental housing," said the CEO of ICF, Vanessa Servera i Planas.
"We are very pleased that ICF is supporting public housing projects like this one, which are key to ensuring that no one has to leave Sant Cugat due to current housing prices," said Francesc Duch, the Councillor for Housing and Participation of the Sant Cugat City Council.
In total, ICF has enabled the creation of 5,211 social rental homes in Catalonia since 2018, financing housing acquisition and development projects with a total of €480 million. These are the latest figures provided by the Generalitat’s financial institution, as of July 2025.
The Promusa project, awarded to Arnó Infraestructuras, has a total budget of €5.6 million and includes a €1,078,000 grant from the European Union’s Next Generation funds.