Tenerife’s government is pushing for a new edition of the Canary Islands Development Fund (Fdcan), arguing that the next round of investment should focus on some of the island’s biggest long-term challenges, including housing, social care facilities and emerging technology sectors.
The proposal comes as the current funding programme approaches its conclusion in 2026, with island leaders already looking ahead to the next decade.
Housing Remains the Priority
Speaking after presenting the results of Fdcan’s impact up to 2024, Tenerife Council President Rosa Dávila identified housing as the island’s most pressing issue.
With demand continuing to outstrip supply across much of Tenerife, she believes future funding should help support the development of housing projects that address growing pressure on the market.
However, housing is not the only concern.
Preparing for an Ageing Population
Dávila highlighted the island’s ageing population as another major challenge that cannot be ignored.
According to population forecasts, the number of elderly residents will continue to grow significantly over the coming years, creating increased demand for care services and specialised facilities.
As a result, Tenerife is requesting that future Fdcan funding also support:
- New social and healthcare facilities
- Additional residential care places
- Infrastructure designed to meet the needs of older residents
The aim is to ensure the island is better prepared for demographic changes expected over the coming decades.
Looking Beyond Traditional Infrastructure
While much of the current Fdcan funding has been invested in road infrastructure and public works, Tenerife believes future investment should place greater emphasis on innovation and economic diversification.
Among the projects highlighted by Dávila were:
- Supercomputing infrastructure
- New submarine cable connections
- Expansion of the aerospace sector
- Technology and innovation hubs
- Collaboration with Canary Islands universities
The council argues that these sectors have the potential to create higher-quality jobs and reduce reliance on more traditional industries.
More Than €1 Billion Invested So Far
During the presentation, economist José Miguel González outlined the impact of Fdcan on Tenerife between 2016 and 2024.
According to the report:
- €1.139 billion has been invested across the island
- 2,734 projects have been funded
- 4,912 individual actions have been completed
Around 70% of the investment was directed towards infrastructure projects, including roads and water management systems, while funding also supported research, innovation and employment initiatives.
A Call for Long-Term Planning
The council is now advocating for a new ten-year funding framework that focuses not only on infrastructure but also on the social and economic realities Tenerife will face in the future.
Dávila described the development fund as one of the most important tools available for driving long-term growth in the Canary Islands and believes it should continue to play a central role in shaping the island’s future.
With discussions already underway following the Conference of Presidents earlier this year, attention now turns to whether the Canary Islands Government will approve a new edition of the programme once the current funding cycle comes to an end.