The Ministry of Public Works, Housing and Mobility of the Government of the Canary Islands, through the Canary Housing Institute (ICAVI), chaired by Pablo Rodríguez and directed by Antonio Ortega, has granted a direct subsidy to the Cabildo of Lanzarote for the amount of 5,537,657.94 euros for the acquisition of 76 homes in the municipality of Yaiza.
The aid is intended for the acquisition of properties with the aim of increasing the public stock of affordable rental housing on the island.In addition, **the Cabildo will provide additional funding** in an amount **equivalent to the subsidy** granted. Once acquired, these homes will be transferred and will become part of the Canary Islands Government's **public housing stock**.
This investment responds to the "priority public and social interest of ensuring that the people and families of Lanzarote can access decent housing, especially those with fewer resources or difficulties accessing the private real estate market".
The project will not only increase the supply of public housing for rent but also improve the living conditions of the most vulnerable groups. Likewise, it is part of the Canary Islands Executive's policy to promote social and territorial cohesion through the construction and acquisition of publicly owned protected properties.
Among the objectives of the grant are to facilitate access to adequate housing, encourage beneficiaries to remain in their usual environment, and ensure that the properties acquired have the necessary equipment and facilities for their use.
This initiative is part of the 360º strategy, promoted by the Canary Islands Government, which includes different regulatory measures to speed up public housing construction processes in the Canary Islands, as well as the mobilization of developments that have been stalled for a decade.
With this action, the Canary Islands Government "reinforces its commitment to the promotion of public housing in Lanzarote, contributing to meeting the growing demand and guaranteeing a stock of rental housing that fulfills an essential social function for the community".In this regard, the Ministry of Public Works, Housing and Mobility is promoting a total of **565 public housing units on the island of Lanzarote, including ongoing and planned projects**. Of these, the Canary Housing Institute currently has 201 housing units under construction in the Los Geranios development in Arrecife, and plans to build another 88 housing units, 46 in Arrecife and 42 in Yaiza, to which the 76 housing units included in this agreement signed with the Cabildo of Lanzarote are addedOn the other hand, the public company Visocan has an additional development of 200 homes, also in Los Geranios, in Arrecife, significantly reinforcing the supply of protected housing on the island and the commitment of the Government of the Canary Islands to access decent housing
