The Official Credit Institute (ICO) has granted a loan of €11.5 million to the property developer Aurora Homes to finance the construction of a development comprising 88 social housing units for rent in the municipality of Santa Lucía de Tirajana, on the island of Gran Canaria.
This residential project, known as Sidoria, is located 12 minutes from the island’s airport and 30 minutes from the city of Las Palmas de Gran Canaria. The complex will consist of social housing units with one, two and three bedrooms, and will also include parking spaces and storage rooms for residents.
The project requires a total investment of €16.6 million. To cover this budget, in addition to the credit line provided by the ICO, the development has received a public grant of €2.5 million from the Canary Islands Housing Institute, which is linked to the construction of privately-owned social housing for subsequent rental.
The construction work is being carried out by Constructora Sanjose. Building work formally began in 2025 and the structural phase is currently being completed. According to the project’s official forecasts, the 88 homes are expected to be completed and available on the rental market from the first quarter of 2028.
