Spain

Metrovacesa to invest €55M in a new residential development in Tenerife

Metrovacesa to invest €55M in a new residential development in Tenerife
ÁBORA, Metrovacesa development in Tenerife.

Metrovacesa has announced the launch of its new residential development, Abora, located in Playa Paraiso, Costa Adeje, Tenerife. The project involves the construction of 138 multi-family homes in a five-storey building, with options from one to three bedrooms, all of them with terrace, garage and storage room.

The company will allocate 55.5 million euros to the development of this residential complex, which will also have communal areas such as a gymnasium, swimming pool, community room and a terrace on the top floor. These facilities are designed to promote active living and community life.

The project was presented at an event held at the H10 Atlantic Sunset Hotel, where Luis Miguel Pascual, Metrovacesa's regional delegate, gave details of the development to the attendees.

In line with Metrovacesa's environmental standards, Abora will integrate sustainable solutions such as green roofs with native flora, advanced thermal and acoustic insulation systems, double glazing and aerothermal systems for hot water. The communal areas will be equipped with energy-saving LED lighting and efficient sanitary devices. These measures will enable the homes to have an A energy rating, ensuring low energy consumption and reduced CO₂ emissions, as well as generating economic savings for future residents.

The development is located 200 metres from the sea, with close access to services such as shops, health centres and leisure options. The location is also close to protected natural areas, offering a balanced environment for its residents.

Abora joins other recent Metrovacesa developments in the Canary Islands, including Ancor in Tenerife and Betancuria and Tamadaba I in Gran Canaria. The company is currently developing projects such as Ancor II and Agama in Tenerife, as well as Tamadaba II and Sansofí in Gran Canaria.

In total, Metrovacesa has 650 homes in different stages of development in the archipelago. It also has a portfolio of 126,000 sqm of buildable land in the Canary Islands, equivalent to approximately 1,100 homes, reflecting the company's growth potential in the region.

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