This Wednesday, the Governing Council of the Tenerife Cabildo approved a collaboration agreement with the Canary Islands Housing Institute (Icavi) amounting to 45 million euros. This arrangement allows the island institution to directly promote, tender, and construct 257 social housing units on the island.
The agreement is set to be valid from 2025 to 2028, with the objective of enhancing the public housing supply through the development of publicly sponsored protected homes in various municipalities across the island, as outlined by Vice President Lope Afonso at a press conference.
The municipalities that will benefit from this initiative include Santiago del Teide, Sauzal, Granadilla de Abona, Güímar, Los Realejos, El Rosario, and San Miguel de Abona.
The investment will be divided, with Icavi contributing 25.7 million euros and the Cabildo providing 19.3 million euros.
President Rosa Dávila and the Vice President have expressed their enthusiasm for this approval, making the Cabildo of Tenerife “the first” to take on this “active” role in light of the royal decree law concerning urgent measures in housing from the Canary Islands Government, addressing “one of the challenges” the islands face.
Starting in 2025, the Tenerife Cabildo will promote, tender, and directly construct social housing to be made available to the island’s municipalities under a social rental scheme aimed at individuals struggling to access the property market.
“This is a groundbreaking agreement, representing a shift in the approach to housing management in the Canary Islands,” remarked Lope Afonso.
The commencement of work on the initial developments, specifically those located in Santiago del Teide and El Sauzal, is scheduled for 2025. Once completed, all units will be managed by Icavi to integrate them into the public housing stock under a social rental protection scheme.
