The director of the Canary Islands Housing Institute, Antonio Ortega, has learned about the proposal of Orion Rental Socimi S.A., the first listed public limited company for Canary Island investment, which represents a further step in the materialization of
RIC funds in the promotion of protected housing for affordable rent.
Its objective is to give a new life to unfinished and ruined constructions in the Canary Islands, and to turn the archipelago into the region of Spain that builds the most affordable housing.
At the meeting held with Antonio Ortega, who was accompanied by part of his management team, were present Ángel Medina, president of RIC Private Equity; José Acosta, director of said entity; as well as Enrique Guerra, general director of this Canary Island venture capital company, and Francisco Mario Matos, advisor on protected housing matters.
During the meeting, Antonio Ortega assured that his area maintains the commitment to continue promoting and encouraging the construction of housing subject to public protection, provisionally and definitively classifying protected housing for private promotion and convening and resolving the corresponding public aid to its promoters. All of this within the framework of the Canary Islands Housing Plan.
About 800 homes in stressed municipalities
For their part, the representatives of RIC Private Equity were able to present to the Canary Islands Housing Institute the first listed public limited company for real estate investment (SOCIMI) that has been established in the Canary Islands for the promotion of protected affordable rental housing with RIC resources, as well as its business plan for the next two years consisting of the acquisition of about 800 unfinished homes located in different parts of the islands in stressed municipalities.
Also, their interest in articulating a public-private collaboration system that allows mobilizing public land to start the construction of new homes with public protection as well.
In this way, the investments will materialize in residential assets under an investment modality that does not involve facing a real estate development from scratch, allowing Canary Island companies and self-employed workers to allocate the tax savings obtained in a social impact investment that means access to housing for an affordable rent.
The visit to the director of the Canary Islands Housing Institute is part of a calendar of meetings that have already been held throughout this summer, such as those held with the town councils of Ingenio, Granadilla de Abona, Santa Lucía de Tirajana and Pájara and with the Cabildo of Fuerteventura.
This calendar will continue its round of presentations to present Orion Rental Socimi to other Canary Island public administrations over the next few months.
