The Official Credit Institute (ICO) has granted a loan of 11.5 million euros to Aurora Homes for the development of 88 protected rental homes in Santa Lucía de Tirajana (Gran Canaria), the developers report. The operation was backed by a subsidy of 2.5 million euros granted by the Canarian Housing Institute (ICAVI).
In Lanzarote, the construction of protected housing is mainly driven by the public sector (Government and City Councils). In contrast, the model of private developers with ICO financing to create affordable rentals has started strongly in the capital islands. However, the financing lines are open to any developer who wishes to replicate the model on Lanzarotean soil.
The operation is part of the ICO's strategy to boost the stock of social and affordable housing throughout the national territory, collaborating with the private sector to stimulate housing supply, according to a statement.
The Aurora Homes development, announced last November under the name Sidoria, is located between Garafía street and Camino de la Madera and will feature official protected housing with 1, 2, and 3 bedrooms, as well as parking spaces and storage rooms.
It is located next to Vecindario, with direct access to the GC-1 highway, just 12 minutes from the airport and 30 minutes from Las Palmas de Gran Canaria.
The works, carried out by Constructora SANJOSE, began in 2025 and are currently in the structural phase. The homes are expected to be available for rent from the first quarter of 2028.
The Aurora Homes project, which will involve a total investment of 16.6 million euros, also has a subsidy of 2.5 million euros granted by the Canarian Housing Institute (ICAVI), intended for the construction of privately promoted protected housing for rent.
Add La Voz de Lanzarote as a preferred Google source.
Stay informed with the latest current news.
