Government housing company acquires four buildings
The Canary Islands government’s public housing company, Viviendas Sociales e Infraestructuras de Canarias (Visocan), has completed the formal purchase of four properties in northern Tenerife for more than €22.5 million. The deal will add 170 flats to the public housing stock available for affordable rent.
Rehabita Canarias: rescuing stalled developments
The acquisition was carried out through the “turnkey” public tender process under the Rehabita Canarias programme – a strategic initiative designed to bring back into residential use buildings whose construction was halted following the 2008 property crash. Opting for unfinished developments offers several advantages over building from scratch:
Faster delivery: With much of the structure already complete and most administrative licences and permits in place, the time until handover is substantially reduced.
Territorial sustainability: The scheme meets housing demand without the need to consume new land across the archipelago.
Neighbourhood recovery: It eliminates eyesores that, after years of abandonment, had fallen victim to vandalism and were creating pockets of insecurity in local communities.
Where the new homes are located
The four developments acquired by the public body are spread across two municipalities in the northern part of the island.
La Orotava (78 homes): Visocan has taken on two buildings of 56 and 22 flats respectively, each with two storeys above ground and a basement level given over to storage rooms and allocated parking spaces.
Icod de los Vinos (92 homes): Two developments have been incorporated here. The first consists of 40 flats already occupied under tenancy agreements, with management previously transferred to the public company. The second comprises 52 housing units arranged over three storeys above ground, complete with garages, storage rooms and utility areas.
Next steps: allocation and handover
Following the signing of the purchase and the formal integration of the properties into the entity’s portfolio, Visocan’s housing management department has begun the administrative process for allocating the flats, with the aim of ensuring the beneficiary families can move into their new homes as quickly as possible.
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