Living

The company at the heart of one of the Canary Islands’ biggest corruption scandals has revealed a negative net worth of €109.4 million. Inversiones Las Teresitas owes €64.3 million to the tax agency and €80.6 million in civil liability to Santa Cruz de Tenerife Council. The firm, which entered bankruptcy proceedings in 2019, continues to grapple with the fallout from the landmark Las Teresitas case.

The Cabildo de Tenerife has invested £3.5 million to transform the Malpaso transfer plant in Arona into a full logistics hub. The project includes a new bulky waste treatment area, a clean point, and a pioneering service area for caravans to empty tanks and access drinking water.

News anchor Vicente Vallés has revealed his secret refuge in Tenerife. In an interview, he says the coastal village of Abades is where he plans to retire when he leaves Atresmedia. He has already bought a home there.

A University of La Laguna study reveals Granadilla de Abona requires 5,500 homes to meet current and future demand, as rental prices have surged between 70% and 80% since 2020. The report, presented in a heated council meeting, highlights a 27% population increase driven largely by migration, with families spending up to 63% of their income on rent. Political tensions flared as the governing coalition rejected an opposition proposal for public housing development, leading to walkouts and accusations of authoritarianism.