The complex, with an investment of 130 million, has 160 properties and the first units will be delivered by the end of 2025
SANTA CRUZ DE TENERIFE, June 30 (EUROPA PRESS) –
The residential developer AEDAS Homes has begun marketing the ‘Solum’ urban project, which will begin construction at the beginning of August in the center of Playa San Juan, in the municipality of Guía de Isora (Tenerife), with the sale of more than 20 homes in the first month for an amount greater than 25 million euros.
This was announced to the media at an informative breakfast held this Friday by José Ignacio Fernández, territorial director of the firm in the Canary Islands and Andalusia, and Antonio González, delegate in the archipelago.
The ‘Solum’ development is made up of 160 homes on the seafront in Playa de San Juan with views of the island of La Gomera and has 2, 3 and 4-bedroom properties with terraces of up to 200 square meters –near 90 of the homes will even enjoy a private pool on their terrace– and common areas with a large pool of about 1,400 square meters of water surface, gym, spa, sauna and garden areas.
Prices start from a minimum of 800,000 euros and there are more than 1,000 potential customers registered to request information.
“We expected a good reception, but reality is far exceeding our best expectations. The interest that ‘Solum’ has aroused is spectacular,” says Antonio González, who details that 90% of sales respond to second homes and 10% to real estate investment.
Regarding the buyer profile, more than half of the clients correspond to middle-aged couples and, mainly, international -Belgian, Danish and French- but there are also Spanish buyers.
The company presented the project, valued at around 130 million euros, with a social meeting held on the plot this Thursday and which brought together more than 150 people from the business, institutional and real estate sectors of the island.
The forecast is to start building the first two phases and for the first homes to be delivered by the end of 2025 since they already have a building permit, and there is room to customize properties and adapt to the needs of buyers.
José Ignacio Fernández has detailed that ‘Solum’ is the company’s “most emblematic” project and a “never seen” product that is located on a large plot of 32,000 square meters attached to Playa San Juan and next to the promenade.
“It is a fully residential, non-tourist product, integrated into the environment and with the local population”, he stressed, stressing that as a result of the coronavirus pandemic many consumption habits in the real estate market have changed and European clients are moving from enjoy holidays in Spain to longer stays, from three to six months or even longer thanks to teleworking.
“TENERIFE HAS UNBEATABLE ATTRIBUTES”
“It has been a before and after and he is a client with the vocation of coming to live and in that sense, we have the long lights and Tenerife has unbeatable attributes”, he commented, while emphasizing that Playa San Juan offers “tranquility and relax” and far from the hotels.
Although the project begins to rise in a somewhat unfavorable context due to the rise in interest rates and financing costs, Fernández has indicated that it does not affect them because their client profile is “high or very high” and that they also do not need to go too much to the credit market.
However, he has predicted that interest rates, without turning negative again, will fall when inflation stabilizes at around 2%.
With ‘Solum’, AEDAS Homes continues its expansion in the Canary Islands that began in 2021 with the promotion of two complexes in Las Palmas de Gran Canaria and is already working on a fourth initiative on the island of Tenerife.
Fernández has pointed out that “the client is the jewel” and although in their line of business – they have more than 300 workers and have already invoiced more than 2,800 million – the coasts and large cities are prioritized, the market “is alive and is dynamic” and they are always willing to analyze new soil bags.
Antonio González has highlighted the advantages of the complex being built on consolidated urban land and already having a planning license after a fairly reasonable processing time thanks to the “support” of the Guía de Isora City Council, which has always opted for “renovation projects quality”.
