Costa Medano plans released for 800 new homes and parks on the coast
Grupo Médano, a Canarian company made up of various construction professionals specialized in all types of architectural and interior design projects with more than 25 years experience in the sector, is immersed in what will be one of the most important urban projects in the Canary Islands over the next 10 years.
The project is for the construction of new residential homes called Urbanización Costa Médano in Granadilla de Abona in the south of Tenerife, just in front of the main beach and next to unbeatable natural landscapes, the sea and nature.
A huge residential complex is proposed covering 120,000 square metres with approximately 800 homes and parks, gardens, parking spaces, and shopping and sports areas, as well as one of the most prestigious supermarkets in Europe. All this just 30 metres from the main beach of El Médano with an easy connection to the TF-1 motorway and the south airport.
Fernando Vega, manager of the Médano Group, says that they are very excited about this project that, without a doubt, "will re-launch the economic activity of the area and the entire south of the Island, with an investment of around 130 million euros that will generate a lot of direct and indirect employment.”
With the construction of this residential urbanization, as Vega explained, new accesses to El Médano will be created "with wide avenues of access for flow of traffic, and parking spaces will multiply solving a major current problem. It is true that now we will have to fight with the different administrations for licenses and bureaucratic procedures, but 50% of the urbanization is already ready to start building. The project is already licensed and we expect the support and help of the public bodies including the Town Hall, the Cabildo, the highways department, etc.”
“This is not about legalizing a new urbanization”, he explained, “as part of it was already licensed and belonged to Martín Fadesa, one of the first construction companies to go bankrupt in the 2008 recession, and stopped”.
For these reasons, and with more than 25 years experience in the sector, Vega is clear about it and assures that “we do not want illegalities, what we want is common sense and that the procedures do not take forever in an office, because this can finish projects and the value of the investment”.
He also said that “such large projects have investors who need legal certainty regarding the timing of their investment, guarantees that it will come to fruition and a time frame for the return on that investment. If this guarantee does not exist, the investor leaves. In fact, the islands already have difficulties for multinationals to start any project in the Canaries, so they tend to look for other places to invest which will mean us getting left behind economically.
Vega made it very clear that what Grupo Médano are pursuing is not illegal or breaking the law, they only want common sense with procedures that can be done in six months and not 6 years. “In this type of project, we have to go through about 40 bureaucratic procedures, and many of them can sit unnecessarily on someone’s desk for too long.”