LAS CORONAS
APARTMENTS
Introduction to Las Coronas
Built on a large parcel of land by the entrepreneur Hicham Al Bochi, our complex was completed in 1989.
Originally, Las Coronas was made up of 119 apartments, 20 villas and some business premises (locales). At that time Costa Teguise was under development and none of the nearby shops existed. For this reason, the complex included a shop, piano bar and restaurant. Soon after starting to sell the apartments, the owners decided to turn Las Coronas into an aparthotel with tourist licences for many of the apartments. The further sale of individual apartments was stopped for a few years. Those apartments that had been sold remained privately owned.
When completed, our complex only utilised approximately half of the original purchased land and on the remaining land the development company, established by Hiram Al Bochi, ‘Palmar de Costa Teguise’ decided to build a hotel – Coronas Playa Hotel; now renamed Radisson Blu. When the Coronas Playa Hotel was completed the aparthotel was closed and the sale of the individual apartments recommenced. The piano bar eventually became the gym, (now vacant) which is now one of several locals making up our community. At that point the community became a residential complex.
In 2005 the villa owners decided that they would form their own community. This resulted in a financial loss to the running of Las Coronas. However, our community continues to provide some services to the villas because it is difficult to separate the two communities completely. Examples of this are the shared electricity system and distribution of the post. Currently, the villas pay for the use of the office for post, a check on the lighting and the weekly cleaning of the villa road. However, the villa owners do not have the automatic right to use the pool and tennis court – they pay an annual fee for this privilege.
Adapting to these developments, the role of President and the necessary legal procedures around the AGM also developed more formally. Over the years, the position of the community has been stabilised and has gone from strength to strength. We currently have 132 apartments and a small number of locales; Restaurant La Gaviota, Crown Bar, Lord at the Drinks bistro, Hair and Beauty Centre and Acura (used currently as a storage facility) insurance.