James D. Velkov, founder of Proyectos Insulares, fell in love with Tenerife in the 1960s for its landscapes and its people, and decided to stay and contribute to the urban development of the island. He began his urban development career on the island with Guajara, located in the municipality of San Cristóbal de La Laguna, and then built Tabaiba, his most important work, with the construction of buildings and single-family villas and the completion of the road system of the urbanisation.
In commemoration of the second anniversary of James D. Velkov’s death, a commemorative bust was unveiled in June 2010 at the entrance of Guajara. Currently, Proyectos Insulares is managed by his son Konstantin Hinner Ivantchev and offers an efficient and transparent real estate management service to its clients. The agency has one office in Santa Cruz de Tenerife, near the Cruz del Señor.