The talented left-back, 19, is the latest to come through at Valencia following Jordi Alba and Juan Bernat.
Los Che are determined not to lose Gaya and are preparing a new contract offer for the youngster's camp tot consider.
Real see Gaya as an immediate first team prospect, particularly with injury worries persisting for Fabio Coentrao.
However, Valencia, financially strengthened by new owner Peter Lim, will prove no soft touch.
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