Tenerife Council Unveils Major Investment Plan for Housing, Tourism, and Local Business
The Tenerife Island Council has unveiled a multi-million euro investment plan focused on expanding public housing, modernizing tourist information services, and providing digital transformation grants for local businesses.
The Tenerife Island Council has launched a new budget plan this week focused on three key areas: housing, digital tourism services, and support for local businesses. First Vice President Lope Afonso confirmed that these measures aim to address housing shortages while modernizing the island’s economy.
The most significant project is the construction of 21 public housing units in La Victoria de Acentejo. Awarded to the company Falisa SL, the 4.16 million euro project is scheduled for completion by 2028. This is part of a broader 59 million euro agreement with the Canary Islands Housing Institute (Icavi), which includes 25 million euros in funding from the Island Council. Currently, the council is working on similar housing projects across seven other municipalities, including Granadilla, San Miguel, and Los Realejos, totaling 285 new homes.
In the tourism sector, the Council is investing 3.6 million euros between 2027 and 2031 to upgrade the INFOTEN network of tourist information offices. The goal is to modernize these service points with better technology and a more personalized approach for visitors. The network, currently consisting of 36 offices, is expected to grow to 43 locations across the island.
Finally, the Council has set aside 370,000 euros to help local shops and restaurants become more competitive. Small businesses and self-employed individuals can apply for grants of up to 50,000 euros to cover the full cost of digital transformation projects, provided the total cost is at least 25,000 euros. This initiative is designed to help local businesses adapt to modern market demands and remain economically stable.