Islote del Francés appeal rejected

One of the most potentially valuable pieces of real estate on the island could be freed for development by a court judgement yesterday.

The Islote del Francés lies between the Arrecife Marina and the capital’s seafront, and although it enjoys a prime location with stunning sea views, it has been the site of abandoned warehouses and a car parking area for several years.  

However, on Thursday the Canarian Supreme Court has rejected an appeal from the owners of the Islote, who were claiming a sum of 200 million Euros for appropriation of the land.

The ruling frees public authorities to develop the area after decades of neglect and disuse.