SANTA CRUZ DE TENERIFE, May 17. (EUROPE PRESS) –
The promoter Aedas Homes will invest 130 million euros in its first real estate development on the island of Tenerife, which will mean the creation of a total of 160 homes in Playa San Juan, in the southern part of the island.
The amount includes both the purchase of land, recently acquired from a local company, and the development of the properties, the construction of which will mean the creation of around 400 indirect jobs, as reported by Aedas Homes to Europa Press.
The promoter plans to start work on the project -called Solum- this summer and deliver the homes by the end of 2025. With the expansion to Tenerife, Aedas Homes, directed by David Martínez, will already be present in 20 Spanish provinces and a dozen of autonomous communities. Solum is the third incursion of Aedas Homes in the Canary Islands after Gazmira and Singulare, both in Las Palmas de Gran Canaria.
The 160 homes will have a pool of almost 1,400 square meters of water and will be located in the municipality of Guía de Isora, on the seafront. “With this development, Aedas Homes reaches a residential market with booming demand and where there is a shortage of new construction. In addition, where the price of new construction homes has experienced sustained growth in recent years, according to the latest data from the Ministry of Transport, Mobility and Urban Agenda”, they have remarked.
“The solid demand for new-build housing in Tenerife is motivated by the increase in the island’s population in the last two decades, which has practically doubled the number of inhabitants in the last 20 years; but, above all, by the great number of tourists who visit Tenerife -the island receives some six million tourists a year- In view of this reality, the first Aedas Homes project in Tenerife is aimed mainly at international clients and investors,” they explained.
