Impala Projects boosts home renovation in Canary Islands: “Our model is not only about business”

After several years in construction management and in response to a real need for high quality management of building renovations in the Canary Islands, Anibal PEREZ LOPEZ decided to create his own company. In 2018,  Impala Projects was born in Tenerife, named after his rock band. The company was specialised in technical and strategic planning of renovation works, including in historical buildings, and it was contracting external experts to carry out renovation works. 

‍Growing demand for full renovation services

However, the quality was not always satisfactory and the demand for full renovation services was growing. Anibal insisted on delivering high quality renovations and thus, needed full control over the process, from the beginning to the end. That’s why, four years later, he founded a second company - Ikaro Construction – specialising in general building renovation and industrialised new construction. 

Today, Impala and Ikaro, with their 18 employees, are working hand in hand, providing Integrated Home Renovation Services to homeowners:

• First contact and needs assessment (on-site visit to understand the building and client expectations).
• Energy audit and project proposal (technical evaluation, digital modelling and personalised renovation plan).
• Financing support (guidance on grants, subsidies and private financing solutions).
• Administrative and legal management (permits, licence applications and paperwork).
• Execution (optional turnkey solution via Ikaro).
• Final delivery and monitoring (commissioning, verification of energy savings, and post-renovation support, all of which will be certified through a dedicated quality label that is being developed by GBCE, part of the national AIRE project.

‍

‍

Objective: Nearly zero energy buildings

The objective is to achieve 30 to 60% energy savings and, whenever possible, to deliver nearly zero-energy buildings that are affordable, accessible and socially responsible. In Tenerife (960 000 inhabitants), unemployment rates reach 20%, 26% of population is at risk of poverty and many, often heritage buildings, are in desperate need of renovation. Impala Projects and Ikaro do not only think about the business, but they want to tackle real societal and territorial problems. They help urban families and communities, especially in historic districts and mid-sized apartment buildings, owners of tourist vacation rentals and rural accommodation seeking to stand out through sustainability and comfort, homeowners in peripheral neighbourhoods with aging buildings and low-income residents facing energy poverty.

The business model strongly embedded in the local context

As it is the case for any local One-Stop Shop, the business model of Impala and Ikaro is highly dependent on the local context and regional and national supporting frameworks. Impala was able to reinvest its profits under a tax incentive scheme, benefiting from fiscal advantages that supported the creation of the second company, Ikaro Construcción, operating in the same territory. The companies have 60 new projects in the pipeline. Submitted to the local administration within the framework of the EU Next Generation grants, final beneficiaries of the funds (the residents) are now waiting for the subsidies to be awarded. These projects represent 70% of all renovation projects submitted by private companies in the Canary Islands. The business model also includes self-developed promotions, consisting of the acquisition of abandoned or degraded properties and their renovation to a nearly-zero energy standard. Finally, Ikaro has been structured as a franchise model to serve as an execution tool for other One-Stop Shops in Spain or beyond, if they decide to adopt it. This could be a future source of revenues for the company. To be followed… 

‍

‍

Impala Projects and Ikaro Construction are active members of the EU Peers Spanish community since July 2024. 

Do you want to know more about their business model? 

• Watch this EU Peers Who is Who session here.
• Visit Impala Projects website

‍