The Zorrotzaurre redevelopment project in Bilbao, Spain, aims to manage flood risks through a Public-Private Partnership (PPP). Initiated in 2012, this PPP seeks to convert an industrial peninsula into a residential area capable of withstanding severe flood events. The financial structure of the project is a blend of public and private investments, with costs shared according to land ownership proportions, integrating 51% public and 49% private contributions. The City of Bilbao and regional government entities have contributed significantly, with initial investments focusing on infrastructure critical for flood management, such as the opening of the Deusto Canal and the construction of floodwalls and stormwater systems. Private developers have invested in raising land levels and developing green spaces that contribute to the area's sustainability and flood resilience. The project was designed by the renowned architect Zaha Hadid. The project demonstrates the effectiveness of combining public resources and private sector efficiency to address complex urban challenges like climate change and urban flooding, setting a precedent for future PPPs in urban redevelopment.